Ways to Save Money on Pet Insurance

There are a variety of benefits to having pet insurance for your furry loved one. There are also a number of things you can do to save money on your pet insurance policy so you can make sure your pet is covered without breaking your bank.
By Venus L.
Updated Dec 10, 2020
ways to save money on pet insurance
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Although many people seem to believe they can live without it, pet insurance is a great way to protect your pets. Nevertheless, not all policies are created equal, and if you're like most people, you are always looking to save money when and where ever you can. With that in mind, here is a closer look at the benefits of pet insurance and some ways to save on your policy.

Benefits of Pet Insurance

Before we delve into the various ways to save money on pet insurance, let's look at some of the benefits of pet insurance in general.

  • Medical Coverage

    • One of the top benefits of purchasing pet insurance is that it can provide you with the means to cover major medical expenses. Although no one wants to think about their pet becoming seriously ill or injured, accidents do happen. Emergency medical expenses can often be too expensive for the average person to cover. However, purchasing a policy for your pet makes it possible for you to be prepared for anything.

  • Peace of Mind

    • Additionally, this can also provide you with peace of mind. Many pet parents fear something happening to their fur babies because they cannot cover the costs. By purchasing a policy for your pet, you will not have to live in the anxiety of fear.

  • Pet Care

    • In addition to providing you with coverage for emergency issues, you can also purchase a policy covering various general health care costs. This can save you lots of money over time.

Ways to Save on Pet Insurance

Now that we know more about the benefits of purchasing pet insurance let's take a look at some of the top ways to save money on your policy.

Explore all Potential Discounts

One of the best ways to save on pet insurance is to explore all potential discounts. In general, pet insurance and insurance is one of the services that often teams up with companies and organizations to provide customers with discounts and other incentives for purchasing insurance from their company. For instance, if you are presently a member of the armed services or a veteran, you may be able to secure a discount for your policy. So, you need to take the time to research and find out whether you already have discounts available to you. This could include checking the perks of any organizations you are affiliated with, as well as checking with your employer. Additionally, you can also ask the company you plan to work with if they have discounts available. For instance, many companies offer discounts if you are insuring multiple pets.

Maximize the Deductible

Another thing you can do to save money on your pet insurance is to maximize your deductible. Much like other types of insurance, if you maximize your deductible, you can choose to maximize your deductible as a means of lowering your monthly payments. Although this does mean you will have to pay higher deductibles when there is an issue, those instances will hopefully be few and far between. Unless you expect your pet to need to be treated for a wide variety of issues, maximizing your deductible is a great method of purchasing high-quality coverage without needing to pay astronomical fees every month.

Learn about Coverage Options

Although it may seem like a no-brainer, taking the time to learn about your various coverage options can be one of the best methods of saving money on pet insurance. This is because every pet is different in terms of its health and insurance needs overall. Therefore, you may need to make sure some things are covered, while you may also be able to skip other coverage types. Since you can create a customized plan, taking the time to learn about the types of covered and ensuring that you have optimal coverage for your unique needs can be a great method of saving money.

Learn more in our Pet Insurance Guide

Learn about Pre-Existing and breed-Specific Conditions

In keeping with that notion, you should also be taking the time to consider the needs of the breed of pet you have as well as your pet's health history, in particular. If your pet has had recurring health issues, you will want to find out how the insurance plan will help you manage those issues moving forward. Moreover, if you have a breed of pet known for developing certain types of health issues, you should also find out how you can ensure that the associated services are covered.

Shop Around

As always, one of the best ways to save on any type of insurance is by taking the time to shop around. Although it may be a tad time-consuming, if you truly want the most for your money, you should be contacting every pet insurance company you can find to get a quote. This will not only allow you to see which companies provide you with the best services, but it will also allow you to select the company that provides you with these services for the least amount of money.

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Annual Payments

Although it seems to be a seldom considered option, one excellent method of saving money on your pet insurance is to opt for annual payments. This is because most companies will provide you with a relatively sizable discount for paying your premiums all at once. While this may not always be economically feasible, for those who can afford it, this is a great method of paying for your coverage while also securing a substantial discount.

Risk Reduction

Lastly, another lesser considered method of saving money on pet insurance is taking the time to reduce the risks your pet is associated with. For instance, if your pet breed is associated with certain health issues, you should take the time to find out what can be done to ward off those issues before they ever set in. Moreover, you can also make sure you are feeding your pet an optimally nutritious diet, that you are staying on top of dental care, getting them groomed regularly, making sure that they have a secure area to rest and play, and much more. While there is no way to ensure that your pet will never have any health issues, this is one of the best methods of keeping your pet safe for the long haul. Over time, this will also help you save money on pet insurance as you are likely to need less coverage than you would if you had a pet that is getting progressively more unhealthy.

Overall, if you are looking for the best ways to save money on pet insurance, you have plenty of options. By taking heed to the tips listed here, you will be much more likely to find the best pet insurance coverage options without breaking the bank. However, if you need additional help, guidance, or quotes for your pet insurance, feel free to contact your friends here at PolicyScout today.