Is Pet Insurance a Fringe Benefit?

Fringe benefits are add-on perks employers can offer in addition to standard required benefits to more holistically support their team. Having pet insurance allows you to choose treatments for your ailing or injured pet based on the best medical option available and not restricted based on family finances. Most pet insurance policies reimburse up to 80% of costs after deductibles. Provides an easy way to budget pet care costs.

Monthly premiums can range from as low as $10 to higher than $100, though most pet owners can expect to pay between $30 and $50 per month for a plan with decent coverage.

What is covered by pet insurance? Most pet insurance plans generally cover unexpected injuries/accidents, illnesses, surgery, medication, tests/diagnostics, and emergency care and exam fees. But not every expense in those categories is customarily eligible for reimbursement.

• Waiting Period.
• Preexisting Medical Conditions.
• Pregnancy and Birth.
• Death or Theft of a Pet.
• Bilateral Condition.
• Preventable Diseases.
• Breed Exclusion.
• Age Exclusion.

Pet insurance companies typically divide their products into 3 main categories: accident-only, accident and illness, and wellness coverages. Each level offers specific services that are covered and excluded and will vary by price.

We highly recommend getting insurance for all pets to help manage sudden costs should your pet get sick, ensuring they get the best care they can. We also recommend health plans for most pets for several reasons.

The best pet insurance covers vet bills for accidents, illnesses, and more. Some policies also cover routine visits, such as vaccinations, exam fees, check-ups, and preventive care, including spaying, neutering, and dental cleaning.

The team will be able to help you complete any open claims or submit claims for any treatment your pet was undergoing. You may also be eligible to receive a death benefit within your policy. If this is the case, the benefit will automatically be transferred to you upon notification of your pet’s passing.

Every pet owner should consider pet insurance. Even if you believe you have enough money to cover veterinary costs, pet insurance could still save you thousands of dollars if your pet gets sick or injured. Especially if you have multiple pets, your out-of-pocket costs could add up considerably without insurance.

Lifetime. This is the most comprehensive type of cover you can get. You pay premiums every year during your pet’s life, and the insurer will have to keep covering you – regardless of age or any existing conditions (subject to conditions). As your pet gets older, your premiums are likely to increase.

More than likely, yes. Your insurance provider may take the view that if you’ve made one claim, you’re more likely to make another – bumping up your premiums as a result. The same is true if you’ve had to claim for accidents or for losing your pet.

Does pet insurance cover vaccinations? Vaccinations are not covered by pet insurance. Neither is spaying or neutering. But, having all your animal vaccinations up to date could mean lower insurance premiums.

Featured Photo by Daria Nepriakhina 🇺🇦 on Unsplash