In many cases, pre-existing conditions or illnesses resulting from those conditions won’t be covered. “In my experience, most claims get approved,” says Dr. Scott Bainbridge, a veterinarian at Queen West Animal Hospital in Toronto. “If in doubt, I will often tell my client to contact the company and get pre-approved for procedures so there are no surprises in the end.”
If you do have a problem with a legitimate claim, Bainbridge says your vet may be able to write to the company to clarify any discrepancies.
Also ask whether you will be penalized for making claims – like car insurance, some companies will increase your deductible.
4. Pet insurance is only for emergency situations
"The base level we feel should be afforded to all pets is emergency and accident care," says Loran Hickton, executive director of the North American Pet Health Insurance Association. "It is inexpensive, and generally most cats and dogs are insurable in this category." In an emergency, de Moissac says, it's a relief for clients who have insurance to not have to make decisions based solely on finances.
However, plans may also cover general illnesses (gastro-intestinal upsets, cancer, bone fractures, diabetes, kidney and heart failure), and many offer dental, wellness and preventative care coverage, including checkups and shots.
Depending on how much you're willing to pay, coverage can also include:
• kennel fees
• euthanasia, cremation and burial
• posters and reward money for lost pets
• even holiday cancellation costs due to pet illness
5. Pet insurance is for everyone.
Pet insurance policies are a lot like human health insurance policies, offering coverage plans based on age, pre-existing and hereditary conditions, and lifestyle (indoor or outdoor, active or not).
Talk to your veterinarian about the type of policy that might best suit your needs (vets are not allowed to recommend particular companies). Shop around for the best price; many companies offer free quotes online.
While pet insurance may not work for you, do have a plan in place in case of an emergency. "Nobody can predict when your pet will get sick," says Bainbridge. "If you are not financially prepared at the time, it may lead to delaying the diagnosis or treatment, and make things worse."
And if you're looking to insure your pet snake or tarantula, you're out of luck – there are currently no companies in Canada that cover exotic pets, says Hickton.
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