As the name suggests, pet insurance is health insurance, but for your pet. Plans help cover the cost of veterinary care in case of sickness or injury. Some pet insurance plans also provide reimbursement for wellness procedures. These would include vaccinations, heartworm testing, and spaying/neutering. However, there are some differences in how pet insurance works.
Pet insurance is more of a reimbursement program than human insurance. With pet insurance, you still pay us for treatment. It’s after you pay that you submit a claim to the insurance company to see what they will reimburse you for. If they decide you are covered for full or partial reimbursement, they will send you the money. Depending on how your account is set up, this can be done through direct deposit, or they will send you a check in the mail.
Pet insurance has premiums, deductibles, co-pays, and payout limits depending on the company and the plan just like human insurance. Pet insurance will not cover existing conditions that were diagnosed before the insurance was purchased. Pet insurance plans also often come with waiting periods before coverage begins.