Friday, 13 Jan, 2017
Should You Purchase Pet Insurance?

We often get asked by clients if purchasing pet insurance is a good idea. The answer? It depends. There are many different factors to take in to consideration, including:

- your personal financial position and ability to cover unexpected medical procedures;

- your desire to provide your pet with the best possible care, including paying for specialists and advanced procedures;

- peace of mind. If you avoid check-ups for your pet or feel anxious each time you visit the Vet because of cost, insurance can help you sleep at night; and,

- the age, health and breed of your pet(s). Older pets, those with pre-existing conditions, and certain breeds have fewer insurance options.

Just as with insurance for people, there are many different coverages available for pets.  There are plans to cover basic wellness issues such as vaccines and check-ups, other plans are much more comprehensive and include accidents or illnesses.

Finding out how much coverage will cost is straight-forward, most pet insurance companies have online and toll-free options to request a quote. Make sure you have your pets basic information handy to make the process easier.

So what are the key things to look for when getting coverage?   

1. The insurance company should clearly lay out the details, including any limitations / exclusions, coverage for routine wellness care, as well as emergency treatments and conditions that require extensive care.

2. Find out how your premiums will increase as your pet ages, or if you make any claims.

3. Ask if there are add-on options such as dental care, travel insurance, etc.. In addition, some companies offer special ‘Member Benefits’ on other products.

4. Find out how they define pre-existing conditions and how that affects your coverage options available.

5. If you have more thank one pet, ask if they offer 'multiple pet' discounts.

6. Find out if there are coverage exclusions for some breeds. In some cases, insurance providers will not insure a specific pet or breed of pet, if they consider them "high risk" for medical conditions.

7. The company should clearly explain to you all of the charges, including co-pays, deductibles, add-on charges and any other fees, so that you fully understand the policy and its limitations.

8. You should be allowed to choose the veterinarian who will care for your pet.

A quick internet search for 'Pet Insurance Canada' will show you that there are plenty of options available to you. Four companies that we most commonly deal with and our clients have had good experiences with, include:

Pets Plus Us: https://www.petsplusus.com/

Trupanion: http://trupanion.com/canada

Pet Secure: http://www.petsecure.com/

Pet Plan: http://www.gopetplan.ca/

If you are still wondering if insurance coverage is right for your pet, talk to your veterinarian. We don’t sell insurance nor are we compensated in any way by insurance companies, however we do have experience dealing with them on our clients behalf.

~ The Mountain View Team

 

Sources: https://www.avma.org/public/PetCare/Pages/pet-insurance.aspx

http://www.nbcnews.com/id/43916934/ns/business-consumer_news/t/pet-insurance-good-deal-or-rip/#.WHbSILYrLLF

https://www.petsplusus.com/coverage-plans/how-pet-insurance-works/what-is-pet-insurance