How to Choose a Pet Insurance Plan
Pet insurance may be a valuable tool to help safeguard your furry companion’s health and well-being, while helping you avoid unexpected veterinary expenses. However, selecting the ideal plan can be difficult, which is why we try to simplify the process and help you make an informed decision.
Understanding Pet Insurance Basics
It’s essential to understand the fundamentals of pet insurance, including coverage types like accident-only, accident and illness, and wellness plans.
Learn the key terms that play a role in determining the right insurance plan for your pet.
| Term | Definition |
|---|---|
| Premium | Fees paid periodically (monthly/annually) for insurance coverage |
| Deductible | Amount paid out of pocket by the policyholder before insurance coverage kicks in |
| Copay | Fixed amount paid by the policyholder for covered services |
| Coverage | Scope of protection provided by the insurance policy |
| Pre-existing condition | Medical issue already present before getting insurance coverage |
Assessing Your Pet’s Needs and Lifestyle
Evaluating Coverage Options
From routine care to genetic conditions, dental care, and more, your coverage options determine the level of care and services eligible for reimbursement. It’s important to understand the differences between lifetime and annual coverage limits and be aware of exclusions and waiting periods that may affect your pet’s coverage.
We know not all pet insurance is the same. Some plans pay a lower annual deductible, have flexibility to visit your preferred veterinarian, and offer 24/7 access to expert guidance.
Explore pet insurance plans and get nose-to-tail coverage for your furry friend.
Comparing Insurance Providers
When comparing plans from different providers, pay special attention to customer reviews, the network of veterinarians, and overall reputation.
| Plan and pricing options | Plan A | Plan B |
|---|---|---|
| Flexible medical coverage | ✓ | X |
| Multiple wellness coverage options available | ✓ | X |
| Monthly premium | $73.06 | $183.14 |
| Example reimbursement | Vet bill: $3,214.00 Reimbursement: $2,371.20 Percentage of reimbursement: 74% | Vet bill: $3,214.00 Reimbursement: $2,582.30 Percentage of reimbursement: 80% |
| Telehealth - 24/7 access to veterinary experts | ✓ | X |
Budget Considerations
Balancing monthly premiums with potential out-of-pocket costs is key. Look for affordable plans with the coverage you need, exploring discounts for multi-pet households or bundled insurance options.
Get instant coverage with more affordable monthly premiums when you sign up for pet insurance through American Fidelity Retirement Services.
What to Know Before Choosing a Plan
- Coverage limits
- Exclusions
- Age restrictions
- Breed-specific considerations.
- Claims process and reimbursement timelines
Choosing a pet insurance plan requires careful research and consideration, but it doesn’t have to be difficult. We’re here to help you explore available options to find the best fit for your furry friend.
Remember to speak with a veterinarian to ensure your insurance plan fits your pet’s specific needs.
American Fidelity does not underwrite this insurance product. All pet insurance products are underwritten by Nationwide. American Fidelity is not a provider of the product described, and the provider of the product is solely responsible for the quality and delivery of that product. Final cost, underwriting criteria, and terms of service are determined solely by the provider of each product. American Fidelity receives compensation from the provider of the product.
This blog is up to date as of February 2025 and has not been updated for changes in the law, administration or current events.
This information is general in nature and should not be considered financial, legal or tax advice. Consult an attorney or a tax professional regarding your specific situation.
