Can I buy pet insurance that has no excess levels?


Yes, pet insurance companies do their best to be able to tailor their products to your needs and wants. Thus, if you want an insurance coverage with no excess levels, most insurance companies will willingly sell this to you. Of course, you must also be willing to pay the additional premiums required.

Excess levels are what you have to pay (aside from the deductible) whenever you make a claim. That means you first have to pay the deductible and the co-payment percentage. What's left of the claim (the excess) is what the insurance company will pay, subject to the maximum limit, of course.

For example, if your medical treatments benefit is pegged at the following:

Maximum benefit limit per treatment $2,000
Deductible $30
Excess level $20%

And you have a $1,800 claim on a covered medical treatment, the computations will be as follows:

Amount you have to pay:

Deductible $30
First 20% of the claim $360
Total amount you have to pay $390

Amount to be paid by the insurance company: $1,410

If you're not willing to shell out extra money for excess levels, then you should be willing to pay higher premiums. The advantage is that you only have to pay a minimal deductible out of pocket when the time comes that you have to make a claim.

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