subject: Calculating The Costs Of Veterinary Pet Insurance [print this page] Before making any type of purchase, such as veterinary pet insurance, an important question to ask is: How much will this cost me? While our pets are invaluable to us, unfortunately their care isn't. So when considering various pet insurance policies, you should consider roughly how much it will cost you. Here are some facts to help you sort through the different factors:
1. Monthly premiums tend to cost from $15 to $20.
Keep in mind that this figure is an average. There are several factors that determine your premiums. What type of pet do you have? What is the pet's breed? What is its age? The answers to such questions will determine how much your premiums will cost.
2. Companies have deductibles and/or co-pays.
Typically the deductibles range from $50-$100. Meanwhile, the co-pays can range from 10% to 50%. Sometimes a company only has deductibles, other times it only has co-pays, and still other times it has both. You should consider this issue when choosing a particular pet insurance company.
3. Your pet might qualify for discounts.
Some of today's companies actually offer policies for pet insurance, as an optional benefit. Typically the companies don't help with the costs. However, employees of a company can typically enjoy a discount group rate. Another type of discount is for pet owners who insure multiple pets.
4. Basic and Premium are typically the two types of plans.
As you can probably guess, the Basic veterinary pet insurance plans are significantly more inexpensive than the Premium plans. However, remember the old adage that "You get what you pay for." While a basic plan will only cover expenses such as drugs and emergency visits, premium plans will cover vaccinations, having your pet fixed, and so on.
5. Most insurers don't cover pre-existing conditions.
In these cases, you must pay 100% of your pet's healthcare expenses. As with most human healthcare companies, pre-existing conditions can create several liabilities for a pet insurance provider.
Owning a pet is an investment, and that includes purchasing a pet insurance policy. The aforementioned facts will help you to make the most of your purchase.
by: John Kirzno
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