
15 Essential Terms to Know When Choosing the Best Pet Insurance Plan
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15 Essential Terms to Know When Choosing the Best Pet Insurance Plan
Feeling a bit lost in the world of pet insurance jargon? Don't worry, we've got your back.
Choosing the perfect pet insurance is one of the best ways to ensure your furry companion is protected, but navigating the sea of terms and policies can be overwhelming. If you've ever found yourself scratching your head over terms like "deductible" or "pre-existing condition," you're not alone.
At Kanguro, we believe in making pet insurance easy and understandable. To help you choose the right plan, we’ve broken down the 15 most important terms you should know. Understanding these terms can make the difference between a plan that fits your pet's needs and one that falls short.
1. Accident and Illness Coverage
This type of coverage provides financial protection against unexpected vet expenses due to accidents or illnesses. It's the core of most pet insurance plans.
Accident coverage: Covers costs related to injuries, such as broken bones, foreign object ingestion, or trauma.
Illness coverage: Covers the diagnosis and treatment of ailments, from mild infections to serious conditions.
2. Deductible
A deductible is the amount you pay out of pocket before your insurance kicks in. Opting for a higher deductible usually lowers your premium, but be sure to choose a level that works for your budget.
3. Pet Insurance Claim
When your pet receives covered treatment, you’ll submit a pet insurance claim to your provider for reimbursement. Understanding the claims process is key to ensuring you get the coverage you're paying for.
4. Hereditary and Congenital Conditions
Some pets are born with or develop genetic conditions. Pet insurance can cover hereditary issues as long as they aren't pre-existing. Be sure to choose a plan that includes this coverage.
5. Pre-existing Conditions
These are illnesses or injuries your pet had before your policy started. Most plans won’t cover them, so getting pet insurance while your furry friend is healthy is crucial.
6. Exclusions
Exclusions are situations or conditions your insurance won’t cover. These often include pre-existing conditions or routine care unless you have a wellness plan. Make sure to read your policy’s exclusions carefully.
7. Wellness Plan
This optional add-on helps cover routine care like check-ups, vaccines, and dental cleanings. It ensures your pet stays healthy and prevents larger medical issues down the road.
8. Waiting Period
There’s usually a waiting period between when you purchase a policy and when coverage begins. This ensures that existing conditions aren't suddenly claimed after purchasing insurance.
9. Premium
The premium is the monthly cost of your pet insurance policy. It’s influenced by your pet’s age, breed, location, and the type of coverage you choose.
10. Reimbursement Level
The reimbursement level is the percentage of vet expenses your insurance will cover after meeting the deductible. A higher percentage means you'll pay less out of pocket but might have a higher premium.
11. Annual Coverage Limit
This is the maximum amount your pet insurance will pay out in a year. Some plans have no annual limits, which can be a lifesaver if your pet needs extensive care.
12. Diagnostics
Tests like X-rays and blood work are covered under most plans with accident or illness coverage. Diagnosing a problem early can save both you and your pet a lot of pain (and money).
13. Alternative Therapy Coverage
This includes treatments like acupuncture, hydrotherapy, and chiropractic care. Some plans cover these therapies when recommended by a licensed vet for a covered illness or injury.
14. Bilateral Condition
A bilateral condition affects both sides of your pet’s body, such as hip dysplasia. Many plans exclude bilateral conditions that were pre-existing before your policy, so be sure to ask about this coverage.
15. Chronic Conditions
Pets with long-term health issues like arthritis or diabetes require ongoing care. Many pet insurance plans cover chronic conditions, but it's important to maintain continuous coverage to ensure your pet's care isn’t interrupted.Navigating Pet Insurance Terms Doesn't Have to Be Hard
Navigating Pet Insurance Terms Doesn't Have to Be Hard
With these 15 terms under your belt, you’re well on your way to finding the perfect pet insurance plan. At Kanguro, we’re here to help make the process simple and ensure your beloved pet gets the protection they deserve.