If you have a furry-footed family member, chances are you’ve heard the term “pet insurance.” What exactly is it and how does it work?

This kind of insurance is designed to pay veterinary bills if your pet becomes sick or injured (usually paying up to a certain percentage and only after a predetermined deductible has been reached). And while this type of insurance might seem as alluring as a whiff of catnip, it’s important to protect yourself by fully understanding what you’re in for before signing on the dotted line.

Tips when it comes to purchasing pet insurance:

  • Research, research and then research some more! There are a number of pet insurance options out there and it’s important to find the one that works for you and your pet.
  • Know what’s included – and not included – in your plan. Your pet insurance policy might not cover all ailments or even all animal species – read the Terms and Conditions carefully and find out what sicknesses and injuries aren’t covered. It is also important to see if the plan covers preexisting conditions.
  • Fully understand the costs. Before you sign up, know how much you’re paying for the pet insurance plan, including monthly costs, deductibles, annual fees and whether your rate will go up as your pet gets older. Like health plans, pet insurance policies often have maximum payable limits, so weigh the cost of pet insurance against the cost of regular and emergency veterinary visits.
  • Identify your responsibilities. Do you know how many days you have to submit a claim after the vet visit or how to cancel your contract? Read the Terms and Conditions carefully and find out what you’re on the hook for when it comes to purchasing a pet insurance policy.


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Travelling with your furry friend
How much is that doggie in the window? Scam warning