How to lower your pet insurance costs
Taking care of your pets is integral to pet ownership. You want to make sure they’re healthy and cared for. Since medical expenses can be expensive, finding an affordable pet insurance plan can be a smart way to save. However, you’ll want to pay attention to a few things to ensure you get the best coverage without paying too much.
Consider which breed to choose
Some dog breeds are known to have unique healthcare needs or are prone to certain types of injuries and illnesses.
For example, French bulldogs may be more inclined to allergies, cataracts, and breathing problems, while dalmatians are more prone to hearing loss.[2] Some companies may refuse to insure certain breeds or charge you a higher rate to do so. You should also know that home insurance companies may charge a higher premium if you own certain breeds, like pit bulls and rottweilers.
Cats vs. dogs
When considering a new furry family member, cats are often cheaper to insure than dogs. Cats typically visit the vet less frequently and are less likely to suffer from injuries (especially if kept indoors).
Compare companies and policies
When shopping for insurance policies, one of the most critical steps is comparing rates and policies from multiple providers. Choosing the cheapest policy may not provide the coverage you need, and the most expensive policy may not be the best fit for your needs or your budget.
Pet coverage will vary between the insurer and policy type. Some things you can look at when choosing a company include:
Deductible: A higher deductible means you pay more out of pocket, but you’ll also usually pay a lower premium.
Reimbursement rate: This is the percentage of the total cost you’ll be reimbursed by your insurance company.
Payout limit: This is the maximum amount the insurer will pay out. This limit could be set annually or over the life of your pet.
Age of pet: If you enroll when your pet is younger, you can typically secure a less expensive policy.
Company reviews: Don’t forget to check reviews by previous customers. Remember that individual experiences may vary, but you may want to reconsider your choice if you see multiple complaints about reimbursement times, denied claims, or coverages.
Speak to your vet
Your veterinarian may be your best resource for information about pet insurance. Since veterinarians are likely to interact with various insurance companies, they may be able to offer insight into which providers they work well with.
Consider a multi-pet discount
You may be able to save on your pet insurance costs if you cover multiple pets under the same policy. Some companies allow customers to bundle policies for a lower rate than paying separate coverages for each animal.
See More: Puppy Insurance
Save money with preventive care
The easiest way to save money on pet health is through preventive care. Annual visits to the vet for updated vaccines and a physical can help you stay on top of potential health issues.
In addition to regular vet visits, you can ensure your pet stays as healthy as possible with at-home care, such as:
Give them flea, tick, and heartworm preventive medication
Brush your pet’s teeth
Feed your pet a healthy diet
Provide a safe environment free of potential toxins (certain plants, chocolate, etc.)
Keep cats indoors
Ensure your dogs can’t escape your yard
Give your pets regular exercise
Keep your dog on a leash in public
Use pet-safe pesticides and yard treatments
Play with your pets every day
Train and socialize your pet
Focus on finances
Once you find a company and a policy that meets your needs, you can save a little more on your policy by following these strategies:
Choose a higher deductible. You’ll need to pay more out of pocket, but your policy will be cheaper. A higher deductible can be particularly helpful if you have a younger, healthy pet.
Pay for your policy annually. Ask the insurer if it provides a discount for paying for the annual cost of your pet insurance up front versus paying monthly.
Opt for a lower reimbursement. The reimbursement percentage is the amount the insurance company will pay you back for covered treatments. You can save money on your policy by opting for a lower reimbursement rate.
