‘What to ask a pet insurance provider’ Series…#6
And here is the last series of questions…
16. Can I afford the monthly premium, deductible, and required co-pay?
Don’t think this question needs much explaining..but, just make sure you think about the different costs and what the co-pay would mean to you.
17. Is there any penalty if I cancel my policy?
It’s my understanding that with insurance, you’re always owed back any premium that you’ve paid ahead of time. However, make sure to check with each company just in case you decide you don’t like the coverage. And, as in most pet insurance companies, if you decide to switch, any conditions that began with one company will likely not be covered by another.
I hope you have found these questions helpful. I’d love to take credit for them, but they did come from The American Animal Hospital Association, so you can thank them;)
Try a financial assistance organization for pets in need of medical care: http://www.rosesfund.org
concerning Question 16. I usually suggest to really consider the features associated with the plan and if they are applicable to the lifestyle of the pet, if they are, budget adjustments can be made for that premium. If the premium isn’t manageable, then choose a plan with the most important features for your pet. Realistically, there are some options we don’t need with some insurance plans.