YOU ASK:

What are the things I should look into when I make a pet insurance plan comparison?

WE ANSWER:

Of course, you want to get the best deal for a pet insurance plan! You can do this by making a comparison of pet insurance plans available in the market and choosing what, to you, is the "best" one.

Here are the things you can look into so that you get a plan that fits your budget as well as your pet's needs.

  • Read pet insurance reviews. There are websites that provide reviews for the various pet insurance companies and their products. This provides valuable customer experience and insights as to the products, the way the insurance company processes their claim, as well as how well the company provides value-added services.
  • Coverage for breed-specific, congenital and chronic conditions. If your pet is especially vulnerable to a specific disease, you should check if this disease is covered. Most plans treat these as exclusions or pre-existing conditions. The same goes for conditions that are chronic - illnesses that last over a number of years.
  • Coverage for routine care and wellness treatments. Do the insurance plans provide basic benefits only, or do they also cover for wellness and routine care?
  • Flexibility. Can they provide choices as to the co-payments and deductibles? Do they also provide you with the freedom to choose the veterinarian you want by having a wide range of accredited medical service providers?
  • Limits. What are the limits per illness? Per incident, per year? Is there an annual maximum limit?
  • Discounts. Do they provide discounts for related services? These include vaccinations, routine diagnostics and check-ups, microchipping and multiple pets?
  • Treatment of claims and pre-existing conditions. Does the insurance company increase the premiums if you make a claim against the policy, especially if you have a lot of claims? Do they have the tendency to deny claims? Do they reimburse based on the veterinarian's bill, or do they have their own benefit schedule they follow?
  • Get to know the insurance company. Try to have an idea of the company's service level standard. How fast are inquiries attended to? How quickly are claims processed and paid? Does it have a reputation of refusing claims?

When you make a pet insurance plan comparison, you should also look into the price, vis-a-vis the benefits. That way, you can make a more informed decision so that you get the best insurance policy for your pet.

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