We love our pets like family, and we want them to be happy and healthy. But the cost of caring for our fur babies can add up quickly. That’s why affordable pet insurance is important. But how do you find it? We’ve rounded up the best options for your beloved dog or cat.
Many factors influence the cost of pet insurance. Your pet’s age and breed play a role, as do any pre-existing conditions they may have. Additionally, the average cost of vet visits in your area can impact pricing. And, of course, the amount of coverage you choose matters, too. Having a comprehensive policy will likely increase your premium, while choosing a plan with a lower annual limit or a higher deductible could significantly decrease the costs.
Some providers have no waiting periods at all, allowing you to start your pet’s coverage right away. Others have short waiting periods for accidents and longer ones for illnesses, such as cruciate ligament injuries in dogs (an orthopedic condition that can make it difficult for them to walk).
A variety of maximum annual limits, reimbursement choices and deductibles also allow you to customize your plan. For example, Embrace offers unlimited annual limits for both cats and dogs with a $500 deductible and an 80% reimbursement level. And it offers a variety of add-on policies, such as boarding fees and reward money for lost pets, to help you with a wider range of expenses.
Lemonade uses artificial intelligence to streamline its claims process, and it says most claims are processed within two days and often in just minutes. Plus, you can bundle Lemonade pet insurance with its homeowners or renters insurance to save 10%.
While its premiums aren’t as low as some other companies, it does offer an innovative approach to pet insurance. Instead of a deductible, Lemonade has a copay percentage for each visit. You can also opt to pay a flat rate for the first three years of your pet’s life.
While this approach is new to the industry, it’s been proven effective in other markets. And it’s a great option for those who can’t afford to pay the higher rates of some traditional insurers. affordable pet insurance