Pet parents today absolutely feel like their pet is their child, best friend or some form of family member. Naturally, with that feeling comes the desire to protect them and help your pet live as long and happily as possible.
To be straightforward, that costs money. There’s regular visits for exams and vaccines, which can be reasonably priced and may not cause you a problem financially. However, there are also emergencies such as accidents and illnesses which can add up to thousands of dollars.
No one wants money to be the reason you lose your pet when he could be saved with proper medical care. However, it happens every day. Many people just don’t have the financial security to cover those thousands of dollars emergencies. Unfortunately, many of them also don’t have pet insurance.
Maybe you have just never thought about it. Your happy, bouncing little puppy appears so healthy and is so well cared for, you have never imagined anything serious could ever happen to her. On the other hand, maybe you have thought about it, but the thought of selecting a pet insurance plan seems so intimidating or you think it is probably too expensive.
The decision to get pet insurance or not is, of course, up to you, the pet parent. But before you make up your mind, get all the facts. This guide aims to provide pet caretakers with a comprehensive understanding of pet insurance while highlighting the added value of Fido Folder in managing their pet’s health records
What is Pet Insurance?
Pet insurance is very similar to human health insurance. It is a plan offered by a variety of companies that will help you pay for veterinary care for your pet. There are difference plans that offer different types of coverage. There is a monthly premium, usually a very reasonable fee much lower than what you pay for yourself. There are deductibles, the amount you pay before insurance kicks in, and there is co-insurance. That is the percentage of the bill that insurance doesn’t pay. Depending on the plan you select, pet insurance can pay up to 90% of your final bill. Again, this can save your pet’s life if your finances are tight.
What Does Pet Insurance Cover?
That depends on what type of plan you choose, but basically there are three main categories of pet insurance:
Accident-only: Just as it sounds, this type of policy covers accidents, like broken bones or swallowed foreign objects. It does not cover wellness care or illnesses.
Accident and Illness: This is a more comprehensive plan that covers illnesses such as allergies, cancer, GI problems and diabetes, but also covers accidents.
Wellness Plans: These are plans that cover your basic routine visits and preventative care such as vaccines. A question you may want to ask when you are researching plans is “Does pet insurance cover routine dental care?” Dental disease is a very common problem with pets and can be very costly.
Debunking Myths About Pet Insurance
Before we get into more details about pet insurance, let’s examine some myths about the subject.
Myth :” Pets don’t need insurance – what a crazy idea!”
Fact:Pets are no different than humans in the sense that they have all the same body parts we do and, at any time, something can go wrong. They also are prone to accidents just like people. You have insurance for yourself. Most of us couldn’t begin to cover our own medical bills without insurance. Likewise, veterinary costs have risen – a vet bill can be thousands of dollars. Insurance can keep your mind at peace and your wallet full.
Myth: “Pet insurance is expensive.”
Fact: The cost of pet insurance varies greatly depending on age, breed and the company and plan you go with.More about various plans and costs later, but monthly premiums can be quite affordable. Much more affordable than a high vet bill.
Myth: “Healthy pets don’t need insurance.”
Fact: As mentioned before, and as you know from your own human experience, accidents and illnesses can strike at any time, even to the healthiest of us. The same is true for pets.
Myth: “Only purebred pets need insurance”.
Fact: Both purebred and mixed breed pets have accidents and suffer from illnesses.
Myth: “My pet is too young/old for insurance:”
Fact: Younger pets have lower premiums, but they still can get sick or have an accident. Older pets are more likely to develop an illness so having insurance for them is especially critical even though premiums are slightly higher.
Myth: “Allpet insurance providers offer similar coverage”.
Fact: In a way, that would be great if they did. It wouldn’t make it so hard to make a decision about which company to go with. Coverage actually varies drastically between companies. You have to compare policies to decide what is best for you and your pet.
More on Weighing the Benefits Financially
As with all things, pet insurance isn’t right for everybody. You have to do a cost analysis, looking at your pet’s breed and age, your financial situation, your risk tolerance and the cost of veterinary services in your area. Here are some other questions you will want to consider:
- Do you have a need for pet insurance for senior dogs or pet insurance for older cats?
- How much is pet insurance? Prices vary, but premiums for pet insurance cost per month can be approximately anywhere from $20/month to $50/month depending on your needs.
- Do you want pet insurance that covers vaccines or does your budget easily allow for routine care?
- Does pet insurance cover neutering and does pet insurance cover spaying? These can be expensive procedures and you want to find out costs of these surgeries included in your plan vs. cost of paying out of pocket.
- Do you need pet insurance with wellness included (that is pet insurance for preventative care)? Maybe you feel comfortable covering that yourself out of pocket and you only want accident only pet insurance.
- Definitely consider your pet’s breed and health history and find out from different companies what their breed exclusions are, if any. Also, consider whether anything in your pet’s health history will qualify as a pre-existing condition and won’t be covered by your plan.
- Do you have multiple pets? See how that adds up. Remember, many companies give discounts for pet insurance for multiple pets.
You need to be able to answer these questions before you even turn on your computer or pick up the phone. You have to know these answers so you can ask the right questions about cost.
You also want to ask about such factors as premium costs, deductibles, co-payments, policy limits, and any discounts a company may have.
Should I Get Pet Insurance – Is It Worth It?
So…you’re still stuck with the question of “is pet insurance worth it?” Read the following real life scenarios to see examples of pet insurance in action.
Taylor’s Story
“I had thought about getting health insurance for my pup, Bagel, time and again over the last several months, but I wasn’t sure it was worth the money. Crunching the numbers initially led me to think I might end up paying more in premiums than I would ever incur in vet bills. Besides, Bagel was full of energy, always running around, never wanting to stop – almost making it seem like he was immune to injury or illness! Unfortunately, that wasn’t the case, and we had to learn that the hard way.
One Sunday, things took an unexpected turn. Bagel’s usual energetic nature disappeared, his appetite was nowhere to be found, and he was uncharacteristically lethargic. Most concerning of all was that he had significant blood in his bowel movements. Since it was late on a Sunday evening, my normal vet office wasn’t open. I figured my only option was to take him to the nearest emergency room.
When we got there, the first thing they did was examine him and do blood work. After that, they administered fluids, gave him an appetite stimulant, and performed an ultrasound and x-rays. Unfortunately, he still wasn’t getting any better. The vet decided it would be best if Bagel stayed overnight for ongoing medical observation. I was happy and relieved that he would be there overnight so they could keep an eye on him, but it was difficult not to think of the cost I was going to get hit with.
The veterinary team was unable to figure out exactly what had caused his illness, but after two or three days of treating his symptoms, Bagel had improved and was finally able to come home. However, his return came with a significant bill – amounting to many thousands of dollars in emergency and continuing care, which were all out-of-pocket costs because I didn’t have pet health insurance.
Looking back, I wish I had decided to purchase health insurance one of the many times that I considered it in the months before this event occurred. The help I would have received from the policy would have far exceeded any monthly premiums I would have paid. I’m fortunate that I was able to handle this expense, but not everyone has this privilege. Without health insurance for your pet, you could find yourself facing impossible decisions due to financial constraints.”
Rachael’s story
“When I rescued my puppy, Darwin, from the shelter and brought him home, it was one of the most exciting days of my life! While rescuing a puppy is one of the best feelings ever, it’s also a bit scary because you may not have the full history of the dog and could end up being hit with unexpected vet bills. One of the best ways to combat this concern seemed to me to be by purchasing health insurance for him. Fortunately, I did this as soon as I brought Darwin home. Let me share with you why I’m so grateful for this decision.
Shortly after we brought him home, we realized that my buddy had a condition called Luxating Patella, unfortunately common in smaller breeds. It’s when the kneecaps slip out of their natural position. Sometimes this condition can be managed without resorting to surgery. Unfortunately, this wasn’t the case for Darwin. His discomfort gradually escalated from limping to wincing with pain during his everyday activities. It was heartbreaking watching him hurting like that. Our vet was clear: Darwin really needed surgery to correct this condition.
The decision to move forward was a no-brainer when it came down to ensuring Darwin’s quality of life. However, we got quite the reality check when we were told the cost of his procedure– between $4,000 and $5,000!
This is where our foresight paid off: we had signed Darwin up for a pet health insurance policy as soon as he became part of our family. The policy came to the rescue, covering more than 80% of the cost associated with his surgery. This financial relief allowed us to focus solely on ensuring Darwin’s fast and smooth recovery, rather than stressing over how we were going to cover his medical bills. In the end, Darwin’s surgery was a success – thanks in large part to the pet health insurance we had for him.”
How to Get Pet Insurance
It’s easy to obtain pet insurance once you have an idea of what options you want. You can usually sign up online or, if you have questions, call the company’s customer service. This has the added benefit of seeing how well their customer service works.
Some companies actually have same day pet insurance – pet insurance with no waiting period. Most however have pet insurance waiting periods. Understanding waiting periods is important.
Waiting Periods and Preexisting Conditions
Most pet insurance policies have waiting periods. This is the number of days or weeks before coverage begins. This often is anywhere from 2 to 14 days for accidents and 14 to 30 days for illnesses. However, it can range from 24 hours to 6 months, depending on the company and the particular condition.
Inclusions and Exclusions
To reiterate, it’s essential to carefully review your potential policy’s inclusions and exclusions to ensure proper coverage. Typical exclusions include pre-existing conditions, cosmetic procedures, and breeding-related expenses. Be cautious and always read the fine print.
Enter Fido Folder: The Ultimate Peace of Mind
This guide has, hopefully, shown you how important pet insurance can be for your pet’s health. However, to provide the ultimate in pet care, you now can have both pet insurance and Fido Folder for your pet. Fido Folder, with its advanced technology stores and will soon learn from your pet’s information to hopefully prevent problems before they happen.
How Fido Folder Works
Fido Folder is a state-of-the-art digital health record management system that utilizes QR codes to access your pet’s health information. When you register your pet with Fido Folder, they will receive a digital folder to hold all their medical records. With an option physical tag, if someone ever finds your pet and they are in need of medical care, they can have a vet scan the QR code with their to access their full medical history.
By combining the coverage offered by pet insurance with the unmatched protection and convenience of Fido Folder, you can offer your pets a complete safety net, thereby enhancing their overall pet care experience.
Here are three ways that these services work in tandem:
- Both services prioritize your pet’s well-being: While pet insurance is focused on financially protecting your pet’s health, Fido Folder helps ensure your pet can be safely treated with the most appropriate care in an emergency. Together, these services create a comprehensive safety net for your pets.
- Ease of access to vital information: Fido Folder holds important medical information about your pet that can be incredibly helpful for veterinarians, especially in an emergency situation. This includes details about current medications, past health issues and allergies, ensuring your pet receives the appropriate care.
- Proactive pet care: By investing in both pet insurance and Fido Folder, you demonstrate a commitment to your pet’s overall safety and health. This proactive approach can help detect and prevent health issues earlier, giving your pet the best possible chance of living a long and happy life.
Tips for Maximizing Pet Insurance
- Having pet insurance will give you both peace of mind and the ability to help your pet’s health in times of need. While you want to have it there in place at all times, it’s obviously great if you don’t have to use it, particularly the illness and accident parts. One way to do that is to maintain regular veterinary check-ups. Prevention is often everything. Catching conditions early is also another benefit of regular vet exams. Whether you decided you will cover routine care out of pocket or have a wellness plan as part of your pet insurance, your pet will greatly benefit from regular vet care.
- Another tip for best utilizing your pet insurance is by making sure you are on top of policy renewals and updates. It would be quite disappointing to say the least to need your pet insurance only to find out it has expired. So stay up on those renewals and always read updates.
Leveraging Additional Benefits and Services
- Pet Insurance today has added many additional services over insurance in the past. One significant trend in pet insurance this year is the integration of holistic, behavioral training, grooming and wellness plans. This means insurance providers are not only covering traditional veterinary treatments, but also alternative therapies and wellness-related services like acupuncture, physical therapy, or prescription diets. This broadened coverage can lead to more comprehensive care for your pets and help you manage the overall costs of pet ownership.
- Many insurance providers now offer mobile apps that enable you to manage your policy, submit claims, or even schedule appointments with your veterinarian, all from your smart phone
- Providers are beginning to offer more diversified and customizable coverage options. For instance, some insurers now have pre-existing condition coverage or even breed-specific policies that cater to the unique health needs of different pets.
- 24/7 help lines are quickly becoming almost routine. They can be a big help in times of need. If your pet is acting differently and you’re not sure whether to go to the emergency room or wait it out, veterinarians or at least certified veterinary technicians will help you decide what the best action is.
- Along those same lines, telemedicine may be an option. This gives you access to a veterinarian, often even with video chats, who may even be able to diagnose and treat your pet.
- Some insurers include additional coverage for boarding fees, pet travel accidents, and lost pet retrieval services.
What’s the Best Pet Insurance?
There is no way this guide or anyone can answer that question for you. There is no BEST. There’s just what’s best for YOU. What we can give you is the information that you have already read as well as a summary/recap of what you want to consider when choosing. You’ll also be shown a comparison of a few of the most popular pet insurance companies. Just remember, these are only examples. There are dozens more and you have to do some research to find the right one for you and your precious pet.
- Coverage options – Not all plans are created equal. Get the plan that covers the items that you care most about. Is it illness, accidents, wellness … or the whole ball of wax?
- Customer service – Some companies are well known for their excellent customer service. You can usually find out the most about this topic through reviews.
- Pricing & Deductibles – Don’t just consider the monthly premium. Company A may have the lowest premium, but what’s the deductible, annual limit and percentage of your bill that will be paid? These things can vary widely.
- Ask for discounts: Many companies provide multi-pet, military, or annual pay discounts, which could save you money.
- Understand exclusions: Read the policy’s fine print to understand what is not covered and avoid surprises during claims.
- Enroll early: Enrolling your pet at a young age can lock in lower premiums and ensure coverage before any pre-existing conditions appear.
- Ask about waiting periods
| Nationwide | Largest and oldest, covers exotic pets, plans starting at $16/month, offers all types of coverage |
| ASPCA | Options for both accidents and illnesses, no upper age or breed limits, great coverage at a competitive price |
| Embrace | Flexible policy options, customizable coverage levels, wide range of plans including dental, unlimited reimbursement, wellness plans, multi-pet discounts, 24/7 helpline, offers alternative and behavioral therapies |
| Healthy Paws | Comprehensive coverage; unlimited annual benefits, Speedy claims process, covers pets as young as 8 weeks old, no maximum or lifetime payouts, alternative care, |
| Pets Best | Customized Plans, fast claim processing, 24/7 pet helpline, accident only & wellness plans, no upper age limits, vet direct pay, unlimited annual or lifetime benefits |
| Fetch Pet Plan | Formerly PetPlan, hereditary and chronic illnesses, most comprehensive of dental plans, alternative therapies, multi-pet discounts, wide range of plans and coverage, easy filing of claims, direct payment to you |
| Lemonade | Fast coverage, fast claim approval, dental plans, medical chat, among the most affordable, great user experience |
In summary, pet care today has come a long way. Pets are your family members and you want to provide the same level of care you would for your human child or yourself. This guide has hopefully convinced you that the ultimate route in responsible pet parenting is to have pet insurance and a Fido Folder. Pet Insurance will help you keep your pet healthy and be financially able to care for them in times of sickness. Fido Folder will help you keep their medical records immediately available for emergencies. This comprehensive care for you furry family member is the most you can do and that’s what you want.
So, review this guide and get your list together of questions you want to ask insurance providers and facts about your pet(s) you will have to give them. Shop around and do your research. Find the insurance plan that’s right for you. Sign up for Fido Folder today and choose the option to “Fetch Records” and Fido Folder will contact your vet on your behalf to collect their records and add them to your pet’s Fido Folder automatically. Then sit back and breathe a sigh of relief that you’re loving your pet in the best way possible and preparing them for a long and healthy life!
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