NEW YORK (MarketWatch) -- If you've decided you may need pet insurance for your pet, you'll want to know what to look for when buying a policy. Just like any form of insurance, there are pitfalls of which you should be aware.
From PetsBest.com, a pet insurance company, here are four tips to consider when buying insurance for your pet:
Ask your veterinarian. Chances are the vet has heard all the news, whether it be good or bad, about insurance plans from other policy holders. See which one gets the best reviews.
Choose the insurance company carefully. Be sure the firm is licensed in your state. That gives you some confidence the company has met some minimum standards, and it often means the plan will have the coverage you need.
Cover all your bases. Make sure your pet is covered for illnesses, accidents, and other routine forms of care. Also, ensure that the costliest forms of treatment and preventive screens are included. Choose a plan that covers serious illnesses such as cancer, and offers surgical coverage, such as removal of swallowed objects and treatment of hernias.
Consider the plan's restrictions carefully. For instance, you may not want the plan to restrict your choice of caregiver, if you hope to visit a vet you know or have heard about through reference. So, avoid plans that make you choose from a set network of veterinarians. Also, opt for insurance that covers after-hours care in case an emergency occurs in the middle of the night.
Before You Start
- Think about how you would pay for routine expenses if you or another income-earning adult in your home were to suffer a disability and stop working?
- Ask your employer whether disability income insurance is offered as an optional workplace benefit.
- If you're an employer, consider offering it as a benefit to attract and retain desired workers.
- If you already own disability income insurance, take a fresh look at the policy to learn about the level of coverage it provides, eligibility requirements, etc.
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