When you’re shopping for pet insurance plans, you’ll notice that there are two types of coverage for you to consider: standard plans and wellness plans. Standard plans are the most popular, but many companies also offer wellness coverage that you can bundle on top of your basic plan.
Understanding the difference between these two kinds of pet insurance plans can be confusing. To help you through the process of selecting a policy, we’ve put together this quick post that outlines the differences between these two plan types. Keep reading to learn about each one and determine the best one for you and your furry friend.
What is standard pet insurance?
In the pet insurance industry, most providers offer a basic type of plan with inclusions that are quite similar across the board. Under this type of coverage, you’ll be able to reimburse certain medical costs for your pet (usually just dogs and cats).
Specifics vary by provider, but your plan will generally include an annual deductible, a yearly dollar limit on how much you can claim back, and a certain percentage that your insurer will reimburse you for bills. Some providers allow you to choose these things, while others decide them for you. You’ll need to pay a monthly premium to maintain active coverage.
In order to get reimbursed for vet bills and procedures, your insurer will typically require you to pay the costs upfront and submit a claim for a refund. Other providers use a benefits schedule to break down how much they’ll cover for any given treatment.
So what comes with these standard pet insurance plans? It’s a pretty straightforward list that doesn’t change much from provider to provider. With this kind of pet insurance, you’ll be covered for things such as:
- Illnesses
- Accidents
- Injuries
- Hereditary conditions
- Surgeries
However, it’s equally important to recognize what’s not covered under standard pet insurance plans. With most insurers, you won’t be eligible for reimbursements in the case of:
- Routine care
- Pre-existing conditions
- Cosmetic procedures
- Breeding
- Grooming
As you might’ve noticed, the most significant gap regarding standard pet insurance is routine veterinary care — but that’s where wellness coverage comes in.
What is wellness coverage?
Many (but not all) pet insurance providers sell wellness coverage. It can be packaged on top of your standard pet insurance cover. This kind of insurance reimburses you for preventative care for your pet, along with the other inclusions you receive under your standard plan.
When you bring your pup to the vet for a wellness check, you can potentially cut down the fees with a wellness plan. It includes many items, including vaccinations, exams, microchipping, and more. Here’s an example of what you’ll get with wellness coverage from Nationwide, a popular pet insurance provider.
With those differences in mind, you can make an informed decision about which of these pet insurance plans is best for you. As you shop for plans, consider the premiums, deductibles, health and age of your pet, and your location. Each of these factors will impact how much you might benefit from pet insurance.
For more pet ownership tips and ideas, check out the PetPonder blog.
