How to get pet insurance from your veterinarian • Benzinga

Did you know that many of our readers end up choosing Lemonade pet insurance? for their pet insurance coverage?

If you have a family, chances are you have health insurance. But what about your pet? They are also family. Surgery for your pet can run into thousands of dollars. Pet insurance is excellent protection against the worst. For example, hip dysplasia, a common occurrence in some older dog breeds, can cost up to $4,000 to $7,000 for large dogs. Not having pet insurance can sometimes be the difference between saving your pet or having to let it go.

How to buy pet insurance from your veterinarian

Should you buy pet insurance from your veterinarian? No one knows better than your pet’s veterinarian what kind of coverage they need. Experts agree that full coverage is the best solution. Accident policies are limited at best, but most pets, especially older ones, go to the vet not because of accidents, but because of illnesses.

Most veterinarians do not recommend wellness coverage at all. Wellness coverage (usually an add-on rider) covers routine costs that can be anticipated and budgeted for anyway. The truth is, paying an extra monthly premium for items that aren’t a surprise can sometimes be more expensive.

Compare pet insurance

If you’ve now decided that pet insurance is the way to go, the next step is to find the coverage that’s right for you. Let Benzinga show you not only where to get the best price, but also which coverage is best for you and your pet.

What is pet insurance

You can get insurance for just about anything, so it’s no surprise that you can get health insurance for your pet. Most policies also cover non-catastrophic items like prescription drugs and birth defects. Veterinary costs, like human medical costs, can often be prohibitive. It’s estimated that one in three pets will go to the ER, and the treatment can easily run into the thousands of dollars. Because pre-existing conditions are rarely covered, it’s important to insure your pet early on.

How Pet Insurance Works

Pet insurance works like any other type of insurance. You pay monthly premiums in exchange for medical services for your pet. As with human health insurance, the policy has deductibles, coinsurance and copayments. Maximum annual payments apply.

Unlike many human health insurance plans where the insurance company pays the medical provider directly, most pet insurance policies require you to pay your veterinarian first and then be reimbursed. . Although this may be a burden for the insured at the time of treatment, it allows him to choose the veterinarian of his choice. Since pet insurance operates on a pay-first, pay-later system, there are no limitations in the network. Refund rates vary from 70% to 100% and usually occur between 5 and 9 days.

Types of pet insurance

Insurers offer three main types of pet insurance:

  1. Accident and illness: Accident and sickness, or comprehensive coverage, is the most popular. Although more expensive, it covers most accidents or ailments your pet may suffer. Pet accident and illness insurance ensures that your beloved dog or cat receives the treatment they need, whether it’s surgery after an accident or cancer treatments.
  2. Only in the event of an accident: If your pet is young and healthy, you may not see the need for full coverage. However, accidents can happen. Accident-only coverage ensures your pet gets the treatment it needs should the unexpected happen. Coverage includes treatment for:
  • broken bones
  • Sprains
  • Poisonings
  • Objects swallowed
  • car accidents
  1. The well-being: If you like everything covered, a wellness plan is for you. Wellness plans cover preventative care, routine items such as vaccinations, blood tests, fecal tests, and deworming.

What Pet Insurance Covers

Pet insurance is great protection against the worst that can happen to your beloved pets. Typical pet insurance policies cover:

  • Emergency care
  • Hospitalization
  • Transaction
  • Accidents
  • Cancer treatments
  • Prescription drugs
  • Acupuncture and chiropractic services
  • Congenital conditions
  • Chronic diseases
  • Diagnostics including x-rays and tests

While coverage may be comprehensive, it need not be immediate. In fact, most plans provide a waiting period of 48 hours in the event of an accident and four days in the event of illness. More serious conditions, such as hip dysplasia, require up to six months to wait before being covered. Most prescription pet medications are covered.

What is not covered

As with all insurance, some items are not covered. Services and procedures generally not covered include:

  • Pre-existing conditions
  • Parasites
  • Experimental drugs and procedures
  • Sterilization and sterilization
  • Elective procedures like teeth cleaning

Unless you have a wellness plan, routine items like annual exams and vaccinations aren’t covered. Neither are flea and tick control, heartworm medication, and dental services.

The cost of pet insurance

Pet insurance costs can range from $10 to $100 per month. The costs depend on the type of animal, its age, breed and current state of health. As with any insurance plan, the cost depends on the details of the policy itself.

Full coverage for your pet (accident and illness) averages between $30 per month for cats and $50 per month for dogs. Accident-only coverage is less expensive, averaging $10 and $16 respectively.

It’s important to note that it’s not just the cost of pet insurance that matters; it’s the cost of not having it that can leave you making difficult decisions about your pet’s medical care.

Advantages and disadvantages of buying pet insurance

Do You Really Need Pet Insurance?

Benefits:

  • Eliminate costly surprises
  • Covers everything from chronic illnesses to accidents (full coverage)
  • May include a wellness runner
  • Allows choice of veterinarian
  • Wide range of expenses covered

The inconvenients:

  • Certain health conditions not covered
  • Restrictions on certain types of pets
  • Pre-existing conditions not covered

As with everything, you have to balance the good with the bad. The good news is that pet insurance is affordable. According to the North American Pet Health Insurance Association, average rates for dogs start at just $50 per month — and just $30 for cats. If you choose an accident-only policy, the rates drop to just $16 per month for dogs and $10 per month for cats.

Benefits of Purchasing Pet Insurance From a Veterinarian – Banfield Pet Hospital

Buying pet insurance from a veterinarian like Banfield Pet Hospital is more like buying pet health coverage than buying health insurance. Unlike standard pet insurance, pet coverage only applies to the single provider you purchased it from.

However, veterinary service centers like Banfield do not offer all types of coverage. Banfield specializes in wellness coverage. The company offers:

  • Behavioral assessment
  • Coat and skin care
  • Complete exams
  • Nutrition advice
  • Orthopedic assessment and treatment
  • Parasite control
  • Vaccination
  • Gastrointestinal disease, diagnosis and treatment

Although Banfield’s specialty is wellness care, it offers other services such as x-rays, radiology, and laboratory diagnosis. Some surgeries are available as well as general dentistry such as dental cleanings, extractions and gum flap surgeries.

Banfield offers packages for:

  • big dogs
  • small dogs
  • Cats
  • puppies
  • Kittens

Banfield is not pet insurance but is classified as a wellness plan. Banfield believes that with proper preventative care, some illnesses can be completely avoided.

Buying Pet Insurance – Knowledge is Key

When it comes to getting the right pet insurance for you, knowledge is everything. This is where Benzinga comes in. Benzinga has put together a long list of articles and educational tools designed specifically to help you choose the right pet insurance policy for you.

Frequently Asked Questions

What does Banfield cover?

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What does Banfield cover?

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Philip Loyd, Licensed Insurance Agent

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Banfield Pet Hospital’s Optimal Wellness Plan means keeping your pet healthy from the start. When you sign up for Banfield’s Optimal Wellness Plan, you get 2 virtual office visits, 24/7 advice via Vet Chat and a coaching session on your pet’s nutrition. These services are good at over 1,000 Banfield locations nationwide. The company also offers online access to all your medical records and appointments, through its website or the Banfield app.

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What is an optimal wellness plan?

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What is an optimal wellness plan?

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Philip Loyd, Licensed Insurance Agent

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Banfield Pet Hospital’s Optimal Wellness Plan offers smart and affordable annual packages focused on preventative care for your pet. Banfield believes the best way to keep your pet healthy is to not let them get sick in the first place.

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