As the name suggests, pet insurance is health insurance, but for your pet. Plans help cover the cost of veterinary care in case of sickness or injury. Some pet insurance plans also provide reimbursement for wellness procedures. These would include vaccinations, heartworm testing, and spaying/neutering. However, there are some differences in how pet insurance works.
Pet insurance is more of a reimbursement program than human insurance. With pet insurance, you still pay your vet for treatment. It’s after you pay the vet that you submit a claim to the insurance company to see if they will reimburse you. If they decide you are covered for full or partial reimbursement, they will send you the money. Depending on how your account is set up, this can be done through direct deposit, or they will send you check in the mail.
Pet insurance has deductibles, co-pays, and max payouts just like human insurance. You must pay a monthly premium for pet insurance as well. Pet insurance plans also often come with waiting periods before coverage begins.