Unexpected vet visits can put a serious strain on your budget, but dog insurance can provide the financial protection you need. However, with an average price of $49.51 per month, the cost of pet insurance might seem like an additional burden. The good news is, there are several strategies you can use to find affordable dog insurance without compromising on coverage. In this guide, we’ll outline seven effective ways to find the best insurance plan for your dog at a lower cost.
1. Adjust the Plan to Fit Your Budget
When choosing dog insurance, you typically have two main types of coverage to choose from: Accident & Illness (AI) plans and Accident-Only (AO) plans.
- Accident-Only Plans: These are significantly cheaper than comprehensive plans and can start as low as $9 per month. AO plans cover vet costs related to accidents such as sprains, fractures, poisonings, and animal attacks. If you’re looking for basic protection without breaking the bank, AO coverage might be the right option for you.
- Accident & Illness Plans: While more expensive, these plans offer much broader coverage, including treatment for diseases, chronic conditions, hereditary disorders, and diagnostic tests. AI plans are ideal if you want to cover a wide range of health issues, but they will cost more than AO plans.
You can also adjust your plan by customizing the deductible amount, annual limits, and reimbursement rate. Plans with lower reimbursement rates and higher deductibles will come with lower monthly premiums.
2. Shop Around for Pet Insurance Discounts
Many pet insurance companies offer discounts that can help reduce the cost of your policy. Some common discounts include:
- Multi-pet Discounts: Insurers like ASPCA and Hartville offer discounts of 5-10% for insuring more than one pet.
- Bundling Discounts: Companies like Lemonade provide discounts for bundling pet insurance with other types of coverage like renters or home insurance.
- Military Discounts: If you’re a current or former member of the military, companies such as USAA and Armed Forces offer discounts of up to 15%.
Additionally, if you are a member of a discount club like Costco, you may also be eligible for discounted pet insurance rates. For example, Costco members can save 15% on pet insurance premiums.
3. Enroll Your Dog at a Young Age
The younger and healthier your dog is when you enroll them in insurance, the cheaper the premium rates will be. Insurance companies charge lower rates for puppies because they generally present fewer health risks compared to older dogs. As your dog ages, the cost of insurance typically increases, so enrolling early can save you money in the long run.
It may feel unnecessary to pay premiums while your dog is still healthy, but doing so can help avoid higher costs later on. Pre-existing conditions that develop as your dog ages may not be covered if you wait too long to enroll. However, if you adopt an older dog, there are still affordable options, and many companies will offer coverage for new health conditions even if the dog has a pre-existing one.
4. Compare Projected Policy Costs Over Time
When searching for affordable pet insurance, it’s important not to focus solely on the initial premium rate. Premiums can rise over time, especially as your dog gets older or after you file a claim.
Instead, consider the long-term costs of a policy. Some companies allow you to estimate how much your policy could cost over your dog’s lifetime. Tools like Pawlicy Advisor’s Lifetime Pricing Score can help you find plans that offer stable rates, potentially saving you a significant amount of money over the course of your dog’s life.
5. Keep Your Dog Healthy to Avoid Price Increases
Keeping your dog in good health is not only good for your pet, but it can also help you avoid filing claims, which can prevent premium increases. Simple preventive measures like regular vet checkups, proper dental care, flea protection, and a healthy diet can go a long way in avoiding costly medical issues.
Some pet insurance providers even reward healthy dogs. For example, Embrace offers a Healthy Pet Deductible that reduces your annual deductible by $50 each year that you don’t make a claim.
6. Consider Diminishing Deductibles
Some insurance providers offer diminishing deductible programs, which lower your deductible each year you don’t file a claim. This can help reduce the overall cost of your pet insurance in the long run. For example, Embrace’s Healthy Pet Deductible program lowers your deductible by $50 for each claim-free year, meaning that the cost of care becomes more affordable the longer your pet stays healthy.
7. Take Advantage of Wellness Plans
While many dog insurance policies focus on covering accidents and illnesses, some providers offer additional wellness plans. These plans help cover the cost of routine care, such as vaccinations, flea treatments, and annual check-ups.
By taking care of your dog’s routine health needs through a wellness plan, you can prevent more serious health problems and avoid larger medical bills down the road. Wellness plans are a great option for dog owners who want to ensure their pets receive preventive care without worrying about out-of-pocket costs.
Conclusion
Finding affordable dog insurance is possible if you know where to look and how to adjust your coverage. By choosing the right type of plan, taking advantage of discounts, enrolling your dog at a young age, and keeping your dog healthy, you can secure comprehensive protection for your pet at a price that fits your budget. Take time to shop around and compare plans to find the best deal, and always consider long-term costs when evaluating policies. With these seven tips, you can protect your dog’s health without breaking the bank.
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