An unexpected vet bill is estimated to cost between $800 and $1,500 for cats and dogs, respectively (1.). However, only 39% of Americans have enough money in savings to cover a $1,000 emergency (2.).
This means that if our pet requires emergency treatment, few people will have the financial means to cover it. It’s for this reason that pet insurance is so crucial for pet owners, but many still don’t have it.
It’s possible that the numerous options and plans make it tough for pet owners to decide which pet insurance is best for them (and their pets).
This guide will help you understand the many types of pet insurance and what to look for in each policy.
The enrollment rules
Varying pet insurance plans have different enrollment restrictions, which are usually based on your pet’s age and/or medical history. Younger, healthier animals are frequently accepted without reservation for a variety of plans. Senior pets, on the other hand, may require higher premiums or special coverage.
Some insurers will stop first-time enrollment between the ages of 10 and 14 (3.) et al. may require that your pet has been seen by a veterinarian within the last year to determine if there are any underlying health issues.
The sooner you enroll your pet in an insurance plan, the cheaper it will be for everyone. Many insurers will continue to ensure your pet as they get older as long as you continue to pay the premiums.
