What is Pet Insurance?
Similar to health insurance for humans, pet insurance helps alleviate the financial burden of unexpected medical expenses for your furry companions.
Here's how pet insurance typically works:
Policy Coverage: When you purchase a pet insurance policy, you'll choose from different coverage options and levels. Common coverage includes accidents, illnesses, and sometimes preventive care like vaccinations or dental cleanings.
Premiums: You'll pay a monthly or annual premium to maintain the policy.
Reimbursement: When your pet requires medical treatment, you'll first pay the veterinary bill out of pocket. Afterward, you'll submit a claim to the pet insurance company with relevant documentation (such as invoices and medical records). The insurance company will then review the claim and reimburse you for eligible expenses according to the policy terms.
Deductibles and Copayments: Pet insurance policies often have deductibles and copayments. The deductible is the amount you must pay before the insurance coverage starts. The copayment is the portion of the veterinary bill you're responsible for after the deductible is met.
