Pet Insurance

Are you prepared to pay for emergency care for your pet? Many times, pet parents underestimate the costs of such care, which can often run into the thousands. Pet insurance offers a convenient safeguard to not only your budget but your pet’s health. No one wants to deny care for their pet, but in urgent situations, it happens! At Companion Animal Hospital of Oak Park, we accept most insurance plans, which allows you to choose the best plan that suits you and your budget. So, what are you waiting for?

MY PET IS HEALTHY, WHY DO I NEED PET INSURANCE?

Even the healthiest pets can have accidents. They can eat something toxic, escape from your backyard and get hit by a car, or develop a chronic condition later in life. Pet insurance can help cover these unexpected costs so you’re not left making a hard decision between your pet and your budget.

HOW IT WORKS

Pet insurance is similar to human insurance in a lot of ways—and different in others. Similarly, you’ll pay a monthly premium, have a deductible, and will be covered for certain situations and conditions, based on your plan’s policy. Many plans offer coverage for unexpected illnesses and injuries, while others offer coverage for wellness and preventive care. When you enroll your pet, you’ll likely have a grace period of about 14 days before the coverage kicks in. Once you’re fully covered, you’ll start paying your monthly premium and will need to reach your deductible before your insurance company will reimburse you for care your pet receives.

Keep in mind that one of the biggest differences in pet vs. human insurance is that the insurance company will not pay your vet directly. It’ll be up to you to cover the initial bill and then file a claim with your insurance company so you can get the appropriate reimbursement.

WHAT KIND OF PLANS ARE OUT THERE?

There is a wide range of pet insurance companies and plans out there, so choosing the right one starts with good research.

Things to consider include:

• The type of policy (emergency and unexpected illnesses only, wellness care, etc.)
• How you’re reimbursed (is it a percentage of the invoice, or an annual benefit of allowances)
• What’s covered and what isn’t (many plans exclude pre-existing, hereditary, and congenital conditions)

To give you an idea of what kind of plans are out there, here are two popular companies compared:

Trupanion:

• Offers one plan that covers all unexpected illnesses and injuries
• Plans feature a sliding payment scale so you can choose a monthly payment based on the deductible, coverage, etc.
• Reimbursements at 90% (after the deductible is reached)

Nationwide:

• Offers multiple plans covering unexpected conditions as well as wellness and preventive care
• If you also have car and/or home insurance with Nationwide, you may be eligible for a multiline discount.
• Different plans reimburse you at different rates

Have any questions or concerns? Contact us at (708) 248-8888 and we’ll be happy to help!