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Should you wait to get pet insurance?

You should generally apply for pet insurance early. Note, though, that there is one major exception.

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When it comes to financial products and services, time is of the essence If you purchase a policy or product too soon, you may not get all the benefits you would have if you waited. Conversely, if you wait too long, you may end up paying significantly more than you would if you acted quickly. You may even jeopardize coverage altogether.

For some financial services, eg A mortgage refinance loanThere are strict parameters for when you can apply. For others, however, the time around an application is up to you.

Pet insurance falls in the next class. whether you new owner of a young the puppy Or someone who has an aging pet, you can apply for a pet insurance policy whenever you feel comfortable. But is there any benefit to waiting or should you start sooner? The answer to that question lies somewhere in the middle.

If you’re considering pet insurance, start by getting a free price quote so you know exactly what to expect.

Should you wait to get pet insurance?

In general, you shouldn’t wait to get pet insurance coverage. Here’s why: Pet insurance is like other types of insurance in that it only gets more expensive as the insured ages and the likelihood of needing regular medical care becomes greater. The risk the insurance company is taking by approving a policy for an older pet will be reflected in higher premiums. But, if you act early, you can find yourself in the running for cheaper insurance when the pet is young and healthy.

If you don’t wait and apply sooner, you can also improve your chances of getting more comprehensive care. Pet insurance providers usually do not cover Pre-existing medical conditions That has a cat or dog. Coverage for these issues will therefore be denied in an application submitted by you. However, if you apply before knowing these terms (even if your Breeding usually prone to them) you’ll probably be able to secure stronger protection.

Everyone’s personal financial situation is different and your current budget may dictate when you can apply for a pet insurance plan. But, in general, if you can afford moderate monthly fees (think $30-$70 for a dog and $15-$40 for a cat), it’s recommended to apply now while prices are low and coverage options are wide.

Start customizing a pet insurance plan for your furry friend now

When should you wait to get pet insurance?

Although it is generally recommended not to wait to get pet insurance, there is one particular situation when you may want to hold off temporarily.

As mentioned above, pet insurance providers generally do not cover pre-existing conditions. But if your cat or dog has one of these conditions — and they can potentially clear it — you may be able to secure broader coverage. In this particular instance, it may be better to wait until your animal has a clean bill of health.

“A pre-existing condition is any injury or illness that occurs or shows symptoms before coverage begins or during the waiting period,” explains Pet Insurer Spot. website. “A condition is considered pre-existing whether or not it has been formally diagnosed or treated; what matters is when it occurs or when symptoms first appear.

“However, with a plan offered by SPOT, this does not mean that the condition cannot be covered in the future if it is curable,” they go on to explain. “An injury or illness that is curable, curable, and free of treatment and symptoms for 180 days, excluding knee and ligament conditions, shall no longer be considered pre-existing.”

So if your pet currently has a condition that can be cured, it may make sense to wait and then apply immediately after their health improves.

“A curable condition is a temporary condition or injury that resolves for at least 12 months and can be considered for coverage in eligible states (check with customer service to see if curable conditions are covered in your state),” pet insurer Lemonade Comment.

Not sure what a pet insurance policy will cover if you apply today? Get a free price quote now and find out!

Bottom line

As mentioned, the timing behind buying financial products and services can be difficult to navigate. You want to be specific but don’t want to lose your best chance. For dog and cat owners, regardless of their pet’s age, it is generally advisable to apply for a policy sooner rather than later. However, if you have a pet that has a pre-existing condition, and there is a reasonable expectation that it can be cured or resolved in the near future, it may make sense to wait to apply.

You can check out Lemonade’s pet insurance plans and policies now to see which one works best.

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