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Saving on Pet Insurance

Although pet insurance is one of the least expensive types of insurance to get doesn't mean that it doesn't have a cost at all. There are a number of ways that you can reduce the price though so use these tips if you want to get lower monthly costs.


Choose a High Deductible 

The higher the deductible, the cheaper your monthly cost for insurance. The downside to this option would be that you are responsible for more money when you need to make a claim. This isn't a bad thing, especially if your pet is young and in good health. If you don't anticipate making any claims except in the case of an emergency, you probably can choose a higher deductible. This probably isn't a good idea if your pet has chronic health conditions with high costs though.

Choose a Lower Reimbursement Plan 

Most pet insurance plans have a few different options available. Because your pet insurance company is going to reimburse you rather than paying the vet directly, you can choose which percentage of the bill your insurer will pay you after the deductible. You can typically choose between 70-90%. This means that if you choose a lower reimbursement rate, you can expect to pay more out of pocket but you'll also save money on your premiums. This may mean that you should budget more for vet bills but this can be a way to save money for an overall healthy pet.

Shop Around 

Not all types of pet insurance are created equal. Today, there are more plans than ever to choose from. Depending on their structures, each pet insurance company is going to weigh those factors differently. This simply means that you can and should shop around a little before you end up on a policy. Most pet owners find that just comparing two or three companies is a great way for them to save money and also end up with a plan that meets their needs best.

Buy Young 

When you purchase pet insurance for a younger pet, you can expect to save money. You'll also lock that rate in for life so as long as you keep the same policy, you can expect to pay the same low rates forever. This won't be an option if you adopt or get insurance for an older pet. However, while it may seem counterintuitive to purchase insurance for a younger pet, you'll probably end up saving money in the long run. You can also save money by insurance multiple pets on the same plan as most insurers offer discounts for several pets. Keep this in mind when setting up a plan.

Pet insurance isn't usually very expensive but it may be possible to save even more money by following a few simple recommendations. These are a few options that you can use to get low cost pet insurance. The health of your pet is a key priority for most people and having pet insurance helps you safeguard their health.