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Pet Insurance Coverage: How PetPlan Works to Protect Your Pets

on 31 May, 2019

$2,600.

That’s the average cost of healthcare you’ll pay for your dog in the first year of his or her life.

If you’ve purchased or adopted a cat, the price will be slightly less, but still around $1,900. This price doesn’t include what you may have paid in adoption fees to bring your new best friend home with you.

While the price of owning a pet may ebb and flow through the years of his or her life, pet insurance coverage can help you through the tough times.

Read on for more information on how PetPlan can keep your dog or cat (or other types of domestic animals) protected.

Canada and Pets

35% of Canadian households have a dog, while another 38% own a cat. That means that pets mean a lot to Canadians, many of whom treat their pet like a member of their family.

In Canada, you get public healthcare for many of (but not all of) your needs. In order to supplement, many people opt for private insurance.

Pets, of course, do not have their needs taken care of by a public agency. This means that if you don’t want to pay exorbitant fees for your pet’s well being, you’ll need to get pet insurance.

Avoiding going to the vet because you don’t have the money to pay for it is not a responsible way to go about things. You wouldn’t want your best friend to suffer because you don’t have the money to pay his or her bill. Instead, PetPlan can help you out of a rough spot by coming up with the money you need.

Why You Need Pet Insurance Coverage

Your pet may be young and healthy, but you never know when something could happen to change that. Unfortunately for pet owners, pets don’t live forever, and health can change in an instant.

That lump that’s been growing on his or her back may actually be cancer. Or, your dog may break his or her leg while out on a walk or exploring in your own backyard.

No one expects these things to happen, but they can and do. PetPlan points out that as veterinary science gets more advanced, pets are living longer, but the treatment can be astronomically expensive.

They state that every six seconds, a pet owner gets a bill for $1,000 or more for their animal.

While you may think these extraordinary bills are only in extraordinary circumstances, you may found out the hard way you’re not correct.

If your vet notices something suspicious, it may mean you’ll need to shell out hundreds of dollars for a biopsy or an MRI to rule out cancer or other diseases. This doesn’t even include the treatment price once a diagnosis is made.

If your dog breaks his or her leg on a regular walk outside, you could easily face a bill of up to $500 or more.

Not all pet owners have that kind of cash lying around, and it means you could get into debt rather quickly. As such, pet insurance will keep you covered.

How Does Pet Insurance Work?

Typically, pet insurance works rather similarly to private health insurance for people. Except, pet insurance can be for all areas of the pet’s health.

Once you decide you’re going to get pet insurance, you’ll liaise with us to discuss your best option and quotes. The company will first give you a quote based on the deductible you’re interested in.

Pet plans will vary depending on how much per month you wish to spend, the breed of your dog and if he or she has any previous conditions.

When you’ve decided to get pet insurance, you’ll go over the policy. The policy will stipulate how much of each type of treatment they’ll pay (for example, some may pay $5,000 per year for regular vet visits and $500 a year for complementary treatments). You may have to pay an excess for each new injury or illness your pet suffers, and this is agreed upon once you take out your policy.

You’ll know how much you’ll be expected to pay out of pocket once you’ve decided on your pet plan.

How Does PetPlan Decide My Rate?

Each pet owner will have a different rate they pay per month to keep their pet covered. This depends on a variety of factors that may include the pet’s breed, age and other health concerns and issues. 

Some pet insurance companies may pay a certain amount for settlements and claims if your dog destroys someone else’s property or causes someone else to seek medical expenses. But, like pre-existing conditions, most insurance companies will not do so for pre-existing behavioral issues.

Rates are generally decided by how likely you are to need to cash out the insurance. The older the pet, the more likely he or she will have problems, so the more your rate will be.

Likewise, certain breeds are prone to developing certain issues and may carry a higher price tag because PetPlan knows their owners claim for conditions much more often.

Can You Be Turned Down for Pet Insurance?

You can be turned down for health insurance for people, so can this also be the case for pet insurance?

The answer, unfortunately, is yes. This will depend on a variety of factors, and will typically only affect a small subset of pet owners.

Many pet insurance companies will only insure pets with a new policy up to a certain age. For dogs, for example, this is often age 8. While they will continue to insure the dog after he or she is 8-years-old, the policy must have been taken out before then. In many cases, the policy also cannot be changed, partially because the older the animal, the more likely you will need to use your insurance.

Animals with too many pre-existing conditions may find themselves not eligible for cover.

Finally, animals with too many behavioral issues, or certain breeds, may not be covered at all. This is because the risk to someone else or the owner may be so great that the pet insurance company does not wish to take the risk.

What About Pre-Existing Conditions?

In most cases, if your pet has had a previous health issue, the policy will exclude it. That means that your policy will cover a visit to the vet at any time, except when the animal goes to the vet for this issue.

Just like with insurance for people, if your animal hasn’t visited the vet for a certain amount of time with the issue, it can be struck off and no longer considered pre-existing.

Because of pre-existing exclusions, it is important to get coverage for your animal as soon in its life as possible. This way, you can get your animal covered before he or she starts to display any type of symptoms that could later be interpreted as a symptom of a pre-existing condition.

If you get your healthcare plan sooner than later, PetPlan will still have to cover a chronic condition, which can save you a very pretty penny.

PetPlan Offers Coverage All Over Canada and in the USA

One great thing about PetPlan is that the coverage isn’t location-specific unless you move to another continent. Instead, you’ll get coverage no matter where in Canada you take your pet to receive care.

Additionally, you can even get coverage if you take your pet to America, either temporarily or if you move there for good. This gives you great flexibility to take your best friend with you if you decide to go on a road trip, either overnight or day, and he or she is still covered under their policy.

Knowing your best friend is covered gives you one less thing to worry about on your holiday (or on a big move!).

Thinking of Taking Out a Plan with PetPlan?

If you’re thinking of taking out pet insurance coverage with PetPlan, contact us today to help you get the best quote possible.

PetPlan is not only flexible when it comes to location, but they cover a wide variety of treatments and ailments. Depending on your plan, you can rest easy knowing your best friend’s medical expenses, from dental to diagnostics, are covered.

Don’t find yourself reaching for your credit card or worrying about how you’re going to pay your best friend’s vet bill. Instead, have the peace of mind to know that this very important member of your family is well taken care of.

Check out the rest of our site for more insurance information, ranging from healthcare for people, dental and home insurance. We’re here to keep you protected and ready for the unpredictable.

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