Pet Insurance Do's & Don'ts

Even though you all want to save as much money as you can, buying based on price point alone will cost you cash in the long run.

As with all things in life, you get what you pay for. If the pet insurance policy you buy costs you only $5 a month you can bet it won't reimburse you for much of anything at all. Even if it sounds good in the sales literature, dig deep and look at the exclusions and restrictions in the fine print to see if exactly what is and is not covered.

You may find that a policy that costs a little more each month or has a slightly higher deductible will actually save you much more money in the long run because you it covers so many more conditions.

Be sure you get quotes from at least three pet insurance companies. Getting 5 would be much better because knowledge is power. This is never more true than when shopping for insurance.

By comparing quotes you'll know which company is offering what kind of policy at what price point. Knowing what is and isn't available and how much it costs will empower you to drive a hard bargain. Taking the time to do this will also reassure you, when you do make a purchase, that you are getting the best deal possible for both your pocket book and your pet's continued good health.

Unless there are extenuating circumstances I don't see why you'd buy accident only pet insurance. As the name states it will only reimburse you for veterinarian expenses arising from accidental injury to your pet. Something like being hit by a car or bitten by another animal.

This type of pet insurance won't help you defray the vet costs if your pet becomes ill or needs medical care for ANY other reason. If, for example, your dog develops diabetes, gets an ear infection, worms or other illness, accident only insurance will not help you cover the costs. You'd have to pay for all your pets medications, procedures and vet visits totally on your own.

Shopping around for pet insurance online is an incredibly smart move. The internet makes what was once a tedious chore a breeze. Almost all, pet insurance companies have an online presence these days. You can research their company, see example policies, find out what's covered and what's not, learn how they calculate reimbursements and even get a quote, all online.

As with any type of insurance, pet insurance will not cover any pre-existing conditions. Not ever! The time to get pet health insurance is BEFORE you need it.

Seriously, if you got in a fender bender with your car on Monday. Then on Tuesday bought auto insurance. You wouldn't expect the new insurance company to pay for the damages that happened to your vehicle before the policy was in effect. It's the same with pet insurance. If your cat already has cancer the pet insurance company will not pay for treatment.