When it comes to pet insurance, there are a lot of things to consider. Not only what they will cover, but also how much it will actually cost to cover our pets.
And while we have been focusing on the different companies out there and even what they are not covering, it is just as important to understand how much it costs and what impacts those prices. So while every company may be slightly different, these are some of the more common factors involved in determining how much your pet’s insurance will cost.
So what are the factors we need to be mindful of according to Forbes Advisor?
What are some of the factors that will impact the cost of pet insurance for your dog?
- How old is your pet? (This was a bit of a shock to us for some reason.)
- The breed of your dog (This can actually raise our cost without any other factors being considered, with some breeds being very expensive to insure.)
- The deductible you choose (Much like our own health insurance, deductibles make a difference.)
- The actual level of coverage you choose for your pet
- “Your reimbursement level”
- Where you live (This seems a lot like the way car insurance prices can fluctuate based on your neighborhood or city.)
- How much veterinarian care in your area costs
There are a number of factors that can make our pet insurance more expensive. And that is definitely something we take into account when researching different companies, especially when the average cost of a plan that covers $5,000 every year is around $35 per month for an adult dog (although a puppy is around the same price). And with some plans as low as $20 per month or as high as $47 per month, this is important.
Do you have insurance for your pet? What factors impacted the cost of your pet’s insurance? Are you shopping for pet insurance? What is important for you from a company covering your dog?