There’s not much pet owners wouldn’t do for their beloved dogs and cats. Whether it’s buying their favorite food or toy or taking them out to the park or for their routine grooming appointment, most options for enhancing and improving your pet’s life are on the table. Increasingly, more owners are now also adding pet insurance to that list. By signing up for pet insurance today, owners can secure coverage for a wide array of ailments, medications and veterinarian visits. This unique insurance type will protect both your pet and your bank account.
That said, not all pets are the same — and not all pet insurance types are similar. Dog owners, in particular, should familiarize themselves with the ins and outs of this type of insurance (and the dos and don’ts) in order to maximize the return on investment.
Pet insurance tips dog owners should know
Here are three pet insurance items dog owners should know about.
The more you shop around the better deals you’ll likely find
While pet insurance may have a reputation as new and unique, the way of securing the best type for your dog is the conventional route you would with any other financial product: by shopping around for the best rates and terms. Because dogs are generally more expensive to insure than cats, this is a critical step in the pet insurance process. Try to get quotes from at least three different providers in order to establish a baseline to compare against.
When doing so, however, be sure to provide the same details for each. For example, the dog breed, age, weight and medical history should be the same when researching each provider. This will help you more accurately determine which provider is offering the most comprehensive and cost-effective policy — and which provider just seems like they are.
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Different breeds come with different costs
As most dog owners already know, different breeds have different health issues and varying lifespans. As such, the cost to insure breeds varies significantly. In short: Those known for having extensive and prolonged health issues will cost more than those that don’t. So, if you have a Goldendoodle, a Miniature Yorkshire Terrier or English Springer Spaniel, you’ll likely pay significantly less than owners of Newfoundlands, Dogue De Bordeaux or Jack Russell Terriers.
This is a general guideline, however, so, again, shop around to see what you can find. Just don’t be surprised when the monthly price to insure a certain breed is higher than what it would have been if you had a different breed of dog.
It’s not worth waiting until your dog gets sick
While it may seem counterintuitive, one of the best times to insure your dog is when they’re still young and healthy. This is when owners can secure the most comprehensive coverage for the best price. If they wait and their pet gets sick, they’ll have to pay more for a policy. And they could risk getting rejected altogether for protection against pre-existing medical conditions. But if owners apply before those conditions surface, they’ll be better positioned to secure more comprehensive care.
And if that wasn’t compelling enough, owners should also account for waiting periods. This is the time between an application being approved and the policy going live (around a week or more, depending on the provider). So if you wait until your dog gets sick, chances are you won’t even have a policy readily accessible to use when needed. This is why you should start your research today.
The bottom line
Pet insurance is one of the most valuable protections owners can secure, both for themselves and for their furry friends. For dog owners to maximize their protections (and minimize their costs), they should shop around to compare lenders and policies. But they should also understand the differences between cost and coverage as it pertains to different dog breeds. Finally, they should avoid waiting to apply until the time their dog is sick, as that could result in absence of coverage when needed most — or a total rejection of their application.