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Pet insurance can be a valuable and cost-effective way to protect your dog or cat in the event of an emergency, illness or routine medical care. Owners can choose to pay a moderate premium to a provider each month or they can choose discount rate if they pay annually. Either way, owners can rest easy knowing that their pet – and their bank account – will be protected.
Like most financial products, however, the timing of the purchase is key. Pet insurance is no different. To make the most of this unique financial protection, prospective policyholders will want to make sure they purchase their policy at the right time. For most pet parents, that means acting sooner rather than later. The reasons behind this time offer are related to both cost and care.
If you’re looking for pet insurance, start by getting a free quote so you know exactly what to expect.
2 main reasons to buy pet insurance fast
Here are two main benefits of securing a pet insurance policy now.
Lower price
The sooner you apply for pet insurance, the better. That is, of course, if you want to pay lower premiums. Pet insurance works like most traditional types of insurance in that it charges less for younger, healthier applicants. The older your pet is, the riskier it is to insure it and the more likely it is to need constant medical care. Because of this risk and the extra care, there will be more bills to pay the insurer. This will translate into higher premiums for the owner.
“As pet owners age, they need more health care…and so do their pets,” notes pet insurer Lemonade. “When purchasing pet insurance, the age of your pet will affect your monthly premium.”
“While the cost of food, toys and treats remains relatively constant throughout a pet’s life, the cost of unexpected medical care can skyrocket as your pet ages,” explains insurer Pets Best.
The lower cost may be the best reason to get pet insurance fast. Every year you wait, you risk having to pay more for potentially less coverage. So start checking prices now to see what your pet is right for.
More coverage
Pet insurance doesn’t always work like health insurance for people. Case in point: pet insurance providers can and will deny your pet coverage for any pre-existing medical conditions. So you need to act fast before pesky medical issues arise that hinder your coverage options.
“Pre-existing condition is anything that happens before you enroll or during the waiting period,” explains Fetch by The Dodo. “Like other providers, we do not cover pre-existing conditions.”
Pet insurance in place will also not protect against these types of medical issues.
“A pre-existing condition is any injury or illness that occurs or shows symptoms before coverage begins or during a waiting period,” they explain on their website. “The condition is considered pre-existing, regardless of whether it has been formally diagnosed or treated; all that matters is when it occurred or the symptoms first appeared.”
Fortunately, if you act now, when your pet is young and healthy (and before new health problems arise), you can put your pet in the running for more stable coverage. If you wait, however, you increase the likelihood that any insurance you get approved for will only be for select items.
So start shopping now to see what kind of protection your pet is right for. Use the table below to compare some of the best providers on the market.
The bottom row
Pet insurance can be a valuable and cost-effective alternative to expensive veterinary bills and treatments. To get the most out of a potential plan, however, you’d better act fast. By applying for a pet insurance policy now, you’ll better position yourself for both lower costs and more comprehensive care.
You can get a personalized pet insurance quote now.