Reviewed by Dr. Fiona Lee
Purchasing pet insurance can make a big difference in your pet's future health. But what happens if you change your mind and decide a different policy might be a better fit? Switching pet insurance plans isn't difficult, but it requires a little planning.
While you can typically only change human healthcare during an open enrollment period, you can usually change your pet insurance policy at any time. But before jumping ship, make sure you read the fine print. And don't delay your decision for long. It's an easier decision to switch policies if your pet doesn't have any pre-existing conditions.1
If you're considering switching plans, this guide can help make the process easier for you and your pet.
How Do I Cancel My Old Plan?
Canceling a pet insurance plan is probably the easiest part of changing your coverage. You can change your mind at any time. Just do the following:
- Contact your provider directly, as each insurance provider has their own rules for cancellations.
- Ask if there are any fees involved in canceling your plan, or if there is any documentation you need to sign.
- Ask when the policy will end. Is it the same day you cancel—and you'll get some of your premium refunded—or does it cancel at the end of your current plan?
- Try to time the cancellation so your pet doesn't have a coverage gap. You can even keep your first policy until the new one kicks in. A Pets Best sample policy, for example, notes that if a pet is insured under multiple policies, the policy with the earliest date is the primary one.
Benefits of Switching Pet Insurance
There are a lot of reasons why you might want to switch to a new pet insurance policy. Here are some benefits you might enjoy from a new plan.
Cost savings
Cost savings can be a huge benefit when switching plans. Look for the following:
- Monthly costs: One plan's monthly premium might be three or more times higher than another company's policy.1
- Premium increases: Will your premium increase at renewal if claims were made or your pet ages?2
- Reimbursements: Some plans only reimburse a set price based on a schedule of "usual" charges, which may be lower than a percentage reimbursement.2
- Other costs: Compare deductibles and copays.3
- Employer plans: If your employer offers pet insurance, the premium may be lower than those in the regular marketplace—but double-check to be sure.4
- Payout caps: Your new plan might have a higher payout limit, or no limit at all.2
- Discounts: Some plans have discounts for multiple pets, military members, spayed or neutered pets, etc.5
Improved coverage
Sometimes a new plan will have better coverage overall. Consider these possibilities:
- Maybe you have an accident-only plan, but another provider offers accident and illness coverage for a similar premium.6
- Some plans drop coverage for pets who have reached a certain age,3 while plans from companies like Pets Best don't have an upper age limit.
- Some plans, like Pets Best, let you customize coverage to best suit your needs.
- Some plans offer better coverage for chronic or inheritable conditions. You may be able to get a medical review on your pet before switching to see what's covered.7
Easier claim submission and reimbursement process
Choose pet insurance with a reputation for paying claims fairly and quickly. You may prefer a policy from Pets Best, which lets you quickly and easily submit claims from your customer account or from the mobile app.
As far as reimbursement, most plans require you to pay the veterinarian first and get reimbursed later. But some plans can pay the veterinarian directly.3
Additional perks
Some insurance providers offer better perks than others. Some examples include:
- Wellness coverage: This might cover routine preventive care, vaccinations and the like.6 Pets Best offers an add-on wellness policy for dogs or cats at an additional cost.
- Physical therapy or rehabilitative therapy.3
- Veterinary hotlines: Pets Best provides free access to a 24/7 Pet Helpline for policyholders' questions.
- Better customer service options or an easy-to-use app.3
Potential Issues When Switching Pet Insurance
You may encounter certain problems when attempting to change your policy. Keep an eye out for these potential issues:
Pre-existing conditions
If your pet has a serious or chronic medical condition, remember that pre-existing conditions typically will not be covered by a new plan. You will need to make specific inquiries to clarify if the plan covers your pet's health conditions. This is why it's often better to get a plan before your pet becomes sick.6
Some pet insurance plans, like Pets Best plans, allow certain “curable" pre-existing conditions to become eligible for coverage after a specified waiting period with no symptoms. For example, a bladder infection or ear infection might be coverable if your pet doesn't have symptoms for 180 days.7 In that situation, a minor condition that can later become "curable" might not discourage you from switching to a better pet insurance plan. Just read the fine print.
Some plans will run a medical history review on your pet after you apply, so they can let you know exactly which conditions won't be covered. Then you'll likely be given an option to cancel if the coverage isn't enough.7
Waiting periods
Be aware of any waiting periods before coverage is effective, and try to avoid coverage gaps.2 For example, there might be a short waiting period before accidents and illnesses are covered and a longer waiting period before more serious conditions, like hip dysplasia, are covered. Some plans might waive a waiting period if your veterinarian signs a waiver within a certain time frame.5 You might prefer to wait to cancel your old insurance until the waiting period is over.2
Reimbursement calculations
You'll likely want a predictable and reliable method of payment for your claims. A percentage reimbursement, for example, can result in a greater total reimbursement than a plan that pays a fixed amount based on a "usual and customary" industry standard. Industry standards are often lower than what you were actually charged.2
Policy limitations and exclusions
Closely review the policy's limitations and exclusions to ensure it aligns with your pet's unique needs. Watch for things like these:
- Not covering certain breeds, or charging more for them.6
- Limiting coverage for hereditary or breed-specific conditions.3
- Maximum payouts per year or your pet's lifetime.2
- Strict age limits that won't cover pets older than the limit, or that drop coverage once your pet reaches that age.3
- Excluding bilateral conditions if there's a second occurrence on the other side of the body. For example, a plan may cover hip dysplasia, but only for the first hip.3
Administrative hurdles
You might also experience administrative hurdles when contacting customer service or switching to a new plan. It's important to verify ahead of time how the new plan handles customer service requests, and the different ways to contact the insurer.
Choosing a New Plan: A Quick Recap
Let's recap what was previously discussed. When comparing a new plan to your current policy, look at the following, weighing all the pros and cons:
- Monthly premiums, out-of-pocket costs, deductibles, copays and coinsurance differences6
- Cost differences based on breed, age or health6
- Waiting periods2
- Exclusions for breeds or pre-existing conditions,6 including "curable" pre-existing conditions7
- How quickly claims are paid1 and how easy it is to make them6
- Time limits for making claims8
- Can your pet "age out" and not be coverable anymore?3
- Reimbursement calculations2
- How much is covered (accident, illness, comprehensive or wellness)3
- Annual or lifetime payout caps3
- Is a claim considered a pre-existing condition when the policy renews?9
- Extra perks (like coverage for rehabilitation or a mobile app)3
- Customer service availability3
Tips for a Smooth Transition
For a smooth transition from one policy to another, keep the following tips in mind:
Research online reviews
Research the plan thoroughly. Review all the points mentioned in this article, but don't forget to read online reviews too, including on social media.
Time the transition right
Plan your switch to minimize any possible coverage gaps.2 Ideally, you won't cancel your old plan until any waiting periods in your new plan have passed and your pet is fully covered. For example, a Pets Best sample policy notes that you can have two policies at the same time on the same pet. The one with the earliest date is the primary policy, and the secondary is only liable for eligible expenses not covered by the primary.
Consult a veterinarian
Talk to your veterinarian about your pet's medical history and needs, and how that might affect your insurance options. You want to make sure your new policy adequately addresses your pet's health concerns. Your veterinarian may have advice on what kind of questions to ask to identify a good option.6
Review policy details one more time
Before you switch, carefully review the policy terms one last time, including exclusions.3 Many plans will run a medical review on your pet to show if anything won't be covered.7 If you have questions, ask the insurance provider to clarify any ambiguous clauses or terminology.3
Pets Best May Help You Keep Your Pet Healthy
Purchasing pet insurance can help you protect your pet's health. With the right policy, you can focus on getting the best care for your pet with less worry about the financial burden. But if you realize that your current policy isn't the right one for your pet, changing plans is easy. Just do all your research first and carefully time the switch so there isn't a coverage gap.
Investing in pet insurance is a great way to help you protect your dog or cat from diseases and illnesses they may encounter growing up. At Pets Best, our dog insurance plans and cat insurance plans can be customized for your pet's unique needs. In addition, Pets Best policyholders can speak to a veterinary expert anytime through a 24/7 Pet Helpline.
Sources/Citations
1. "As pet insurance becomes more popular, pet owners fret about rising prices, denied claims and long waits for reimbursement," Gretchen Morgenson, David Paredes and Vicky Nguyen (8/2023), NBC News, https://www.nbcnews.com/business/personal-finance/pet-insurance-dogs-cats-rising-prices-denied-claims-rcna93933, accessed April 1, 2024.
2. "Questions to consider when purchasing pet insurance," California Department of Insurance, https://www.insurance.ca.gov/01-consumers/105-type/8-pet/pet-qa.cfm, accessed April 1, 2024.
3. "LEGALease: Pet insurance—Frequently asked questions," New York State Bar Association, https://nysba.org/legalease-pet-insurance-frequently-asked-questions/, accessed April 1, 2024.
4. "Open enrollment: Should you buy pet insurance through your employer?" Maurie Backman (10/2023), The Ascent, https://www.fool.com/the-ascent/insurance/pet/articles/open-enrollment-should-you-buy-pet-insurance-through-your-employer/, accessed April 1, 2024.
5. "Pet insurance waiting periods: Options and explanations," Jason Metz (3/2024), Forbes Advisor, https://www.forbes.com/advisor/pet-insurance/no-waiting-period/, accessed April 1, 2024.
6. "Pet insurance," Pennsylvania Insurance Department, https://www.insurance.pa.gov/Coverage/PetInsurance/Pages/default.aspx, accessed April 1, 2024.
7. "Pet insurance that covers pre-existing conditions," Jason Metz (9/2022), Forbes Advisor, https://www.forbes.com/advisor/pet-insurance/pet-pre-existing-conditions/, accessed April 1, 2024.
8. "Pet insurance claims process," Christy Bieber and Robin Hartill (9/2023), The Ascent, https://www.fool.com/the-ascent/insurance/pet/pet-insurance-claims/, accessed April 22, 2024.
9. "Pet insurance," Washington State Office of the Insurance Commissioner, https://www.insurance.wa.gov/what-consider-buying-pet-insurance, accessed April 1, 2024.