How Do Deductibles Work in Pet Insurance?

A deductible is the amount you must pay out-of-pocket each year before your pet insurance coverage begins reimbursing claims.
Source: BestPetPlanGuide.com

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Most pet insurance plans use an annual deductible model. You pay all covered vet bills until your deductible is met. After that, your insurer pays a percentage of additional costs based on your selected reimbursement rate.

 

Example:

·       Deductible: $500

·       Vet bill: $1,500

·       Reimbursement rate: 80%

·       Reimbursement = ($1,500 - $500) × 80% = $800

 

Some providers also offer per-condition deductibles, which apply separately to each new illness or injury.

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Higher deductibles reduce monthly premiums, while lower deductibles provide quicker reimbursements but cost more month to month.