What questions should I ask an insurance professional about pet insurance?

When speaking with an insurance professional about pet insurance, it's important to ask relevant questions to ensure you have a clear understanding of the policy and its terms. Here are some key questions to consider asking: 

  1. What is covered under the policy? Ask for specific details about what types of treatments, procedures, and conditions are covered. Inquire about coverage for accidents, illnesses, hereditary conditions, chronic conditions, and preventive care.
  2. What is not covered under the policy? Understand the exclusions and limitations of the policy. Ask about specific conditions, treatments, or services that may be excluded from coverage.
  3. Are there waiting periods for coverage to begin? Inquire about any waiting periods before coverage for certain conditions or services becomes effective. Waiting periods typically start from the policy's effective date.
  4. How are claims processed? Understand the claims submission process and how long it typically takes to receive reimbursement. Ask about the required documentation and whether there are any specific forms or procedures to follow.
  5. What is the reimbursement percentage? Inquire about the percentage of eligible expenses that the insurance company will reimburse. Ask if the reimbursement is based on the actual veterinary bill or a predetermined benefit schedule.
  6. Is there a deductible? Understand the deductible amount and how it affects your out-of-pocket expenses. Ask if the deductible is per incident, per year, or per condition.
  7. Are there any annual or lifetime coverage limits? Inquire about any maximum limits on coverage, either per year or over the lifetime of your pet. Understand how these limits may impact your ability to claim for certain conditions or treatments.
  8. Can I choose my own veterinarian? Ask if you have the freedom to visit any licensed veterinarian or if there is a network of preferred providers.
  9. Are there discounts available? Inquire about any available discounts, such as multi-pet discounts, military discounts, or discounts for certain professional affiliations.
  10. Can the policy be customized? Ask if there are options to add or remove coverage for specific conditions or treatments through optional riders or add-ons.
  11. How are premium rates determined? Understand the factors that influence the premium rates, such as the pet's age, breed, location, and coverage options chosen. Inquire if premiums will increase over time and if so, how.
  12. What is the policy cancellation process? Understand the process for canceling the policy if needed, including any applicable fees or requirements.

 Remember to ask for clarification if any terms or details are unclear to ensure you have a comprehensive understanding of the policy before making a decision.

Disclaimer: The questions and answers above are for educational purposes only. They are meant to provide the public with a general conceptual understanding of insurance and do not constitute advice or analysis. Some answers might be incomplete, outdated, and even not always accurate depending on the particular rules applicable to your state. Importantly, these questions and answers are generic and do not relate to any particular insurance product, including products available on the Waffle platform. If you have any questions about any of your own insurance products, always check the policy first and direct your questions to your insurance agent or the insurance company underwriting your policy.