When insuring your pets, the last thing you want to find out is that your insurance company does not cover the expenses when they get sick or an accident happens. It is, therefore, very important that you do your research thoroughly before signing a contract for such a policy, which implies you’ll deal with a lot of specific terms, including deductibles. A deductible in pet insurance is the amount you have to pay for the insured services before the insurance company covers its part of the health care bills.
Trupanion’s Lifetime Per-Condition Deductible
Trupanion, unlike most pet insurance companies, offers a lifetime per-condition deductible, meaning that you pay the deductible only when your four-legged family member gets a new condition. And by condition, Trupanion means any injury resulting from an accident or an illness, as well as all the medical problems that might come along with it.
For example, for every illness your furry friend develops, the deductible is paid only one time, and not yearly like with most other pet insurance firms. At the same time, after you have paid Trupanion the deductible for that specific condition, it is valid for the pet’s entire life and it does not have to be paid again.
Additionally, Trupanion offers customized deductibles, meaning it provides different types of deductibles you can choose from. For instance, its deductibles start from zero and can go up to $1,000.
Comparison: Trupanion’s Deductibles, Yearly Deductibles, and No Deductibles
A yearly deductible means that you only have to pay the deductible one time a year, while the insurance policy is valid. This implies you won’t have to pay one every time your pet sees the vet, or for each different condition.
A per-condition deductible is paid for each new condition that your pet develops, but with Trupanion, that’s only once for the pet’s entire life time.
There are also some insurance firms which offer no deductibles at all. In these cases, the amount you’ll have to pay for the plan will usually be higher.
A Couple Of Examples…
Imagine that your French bulldog, a cute, little, but solid buddy named Rocky, has a vomiting episode, after which he develops a laceration. Later in the year, you find out that he has diarrhea.
If Rocky has a yearly deductible of $250, you will only pay the deductible ($250) for vomiting, in the sum that you agreed on in the insurance contract, while the other two visits to the vet will not require you to pay any deductibles at all.
However, if you have previously opened a pet insurance policy for Rocky with a per-condition deductible, and you have agreed on a $150 deductible, you will have to pay $150 every time Rocky sees the vet for each of these problems since they are not related to each other. That results in $450 total paid that year in deductibles, which is almost double the amount paid for the yearly deductibles.
Are Trupanion’s Lifetime Per Condition Deductibles Worth It?
There are certain things to take into consideration when deciding which type of deductible you want to have for your pet’s insurance.
Namely, if you know your dog’s or cat’s breed is prone to illnesses, like Rocky is, the recommendable choice would be to go for the annual deductibles that, as demonstrated in the examples above, will lead to less expenses.
Also, if your cat, for example, lives in the yard and likes to go out a lot, knowing he likes to climb trees and do all sorts of cat-like activities, this might bring along more risks, in which case, again, the yearly deductible would be the right choice.
No matter what you choose, remember to do your research, read real reviews (like ours), clients’ opinions and comments, and only then make a decision. This way, your Rocky, too, can watch all the Spanish soccer games for a very long time.