There are 3 things that you could consider, if you are currently looking for a suitable pet insurance policy to suit your budget and your pet.
- Terms – it usually provides coverage for a specified number of years, known as the policy term. In case of an unfortunate event during this period, the sum assured will be settled on your policy.
Waiting Period: Pet insurance policies typically have a 12-month policy period beginning on an effective date. Do note importantly that with a new pet insurance, your coverage will not start until after the waiting period. However, if you renew your policy in subsequent years, the waiting period need not apply.
Co-payments: A co-payment, also known as cost-sharing, is an additional payment you make towards the cost of any vet’s fees. It is usually your claim amount, minus the excess.
Deductibles: Usually, deductibles are a fixed amount that must be paid out of pocket before submitting claims on a pet insurance policy.
- Pet Insurance Coverage – Pet insurance coverage is usually designed to cover unexpected accidents and illnesses which we can never plan for, such as when the dog swallows something he should not do so, or the cat gets a urinary tract infection.
- Waiting Periods: Waiting periods usually start after you purchase a new pet insurance policy. Insurers use these waiting periods as an extra layer of protection to prevent fraud.
When you have determined the features or benefits that you should look for when purchasing a pet insurance policy, do you know that your pet usually needs a medical or a physical examination to be deemed healthy?
A physical or medical examination involves observing the general appearance of your dog, listening to their chest with a stethoscope (auscultation), and feeling specific areas of the body (palpation). Your veterinarian will observe or inspect: How your dog walks and stands. Whether your dog is bright and alert.
Why are such examinations essential? Since your pets cannot tell you how they are feeling, a disease may be present before you are aware of it. To further complicate matters, as part of their survival instincts, most dogs will hide signs of disease in the early stages. This is the reason why medical and physical examinations are recommended for pets or for your dogs.
With a pet insurance policy obtained via Insurance Market, you can have peace of mind especially when it comes to veterinary expenses, theft of pets, surgical and non-surgical procedures for your pets, and many more!
Insurance Market offers a wide range of general insurance products Online and through personal advice from our qualified brokers. Please contact us at [email protected] or +65 8883 9901 if you have any further queries.
