A waiting period is the length of time after purchasing pet insurance, during which you must wait before filing any claims. Waiting periods make it hard to get insurance benefits for an accident or pre-existing condition that happened before the policy was bought, hence assisting in the prevention of fraud. For instance, if a dog is hit by a car and requires expensive surgery, the owner cannot get a policy following the incident and use it to cover the cost of the procedure. By insurer and claim type, waiting periods for pet insurance vary in length (accident, illness, etc.).
How do the waiting periods for pet insurance work?
Waiting periods are specified in pet insurance policies for each category of the claim that the policy covers. In contrast to accidents, illnesses normally have a lengthier waiting period (usually two weeks). *
The longest waiting periods typically last six months or longer before coverage begins for particular conditions like orthopaedic disorders and cruciate ligament concerns. Every pet insurer establishes its own waiting periods, but variations are typically minimal (a few days). *
What transpires if a medical issue worsens while you’re waiting?
Even though you purchased the pet health insurance coverage before the condition manifested, it will normally be regarded as a pre-existing condition if a condition manifests during the waiting period. The waiting period makes it impossible to take advantage of a pause in the symptoms of a chronic ailment or to purchase insurance when you fear your pet is developing a medical problem, which is another strategy to prevent fraud. The majority of the time, a condition that manifested during the pet insurance waiting period won’t be covered, even if it were an honest, unavoidable stroke of bad luck. *
What would happen if I switched providers or policies?
Depending on each company’s waiting period policy. Your new pet insurer will normally impose a waiting period if you switch firms, just like they would for any new client. A new waiting period might not be necessary if you’re changing your policy with the same insurer because they are aware of your pet’s medical history. You must confirm this with your provider because different businesses have varied policies about waiting periods. *
Can I purchase pet insurance immediately?
Plans for pet insurance do not provide coverage right away. Before coverage begins, there must be a waiting time. Under some circumstances, some pet insurance companies will shorten the waiting period, but coverage won’t start right away.
A wellness or routine care pet insurance policy normally takes effect the following day. Some insurers permit an optional routine care rider to become effective the following day if you choose to add it to your current pet insurance plan. Most accident-only and comprehensive insurance policies have a waiting period before coverage kicks in.
How to evaluate different pet insurance plans?
Although the waiting period is a crucial part of any pet health insurance, it shouldn’t be your only factor in choosing coverage. What else should you be on the lookout for when you buy dog insurance online?
- Type of pet insurance plan. The types of plans you purchase will determine what is covered by pet insurance. You must acquire an accident and illness plan if you want complete coverage.
- Coverage duration, deductible, and percentage of reimbursement. While some pet insurance providers provide several alternatives, some have fewer choices.
- Additional pet insurance. You could wish to include a wellness plan or have access to pet telemedicine services around-the-clock.
- If you are eligible for a concession, such as a multi-pet concession, you might be able to reduce the cost of your pet insurance. ##
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.