One of our top priorities at Prairie Pet Insurance is to educate Canadians on pet insurance and to make it simple to understand. Below is a list of common questions people ask when considering coverage for their cats, dogs or both.
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You should insure your pets as young as possible. Pet insurance will not cover pre-existing conditions that arise before your pets’ coverage begins. When you cover your pet when they are younger, they are less likely to have developed medical conditions! That said, most insurance companies will cover cats and dogs of any age!
Most insurers will require your pet to have undergone a full physical examination within a certain period to be eligible for coverage. There are certain medical conditions that can make your pet ineligible for coverage (these conditions can vary among insurers).
A deductible is an agreed upon amount of money that must be paid for you to be reimbursed for your claim. Depending on the insurer and plan you go with, your deductible can be annual or per claim. Currently, all of our insurance partners use annual deductibles.
Annual Deductible - An annual deductible is only paid once a year, regardless of how many claims have been filed. An annual deductible is only paid if you make a claim that year.
Per-Claim Deductible - A per-claim deductible must be paid every time you make a claim to be reimbursed.
For most pet insurance providers, there are three factors to consider when calculating the premiums for cats and dogs:
Breed - Some breeds are at higher risk to develop a medical condition than others. Bigger breeds typically have higher care costs.
Location - Care costs differ from place to place due to varying operating costs for veterinarian clinics.
Example: Medical care for a pet in an urban area, like Saskatoon or Calgary, is more expensive than they are in rural areas due to higher overhead costs.
Age - Like people, the older a pet is the higher the likelihood of them developing a medical condition resulting in a claim. Depending on the insurance provider, the increased risk of older pets is factored into the either the premium or the deductible.
Co-pay (also known as co-insurance) is when the policy holder assumes a percentage of the risk in the event of a claim. Most pet insurance operate with co-pay insurance plans.
Example: If a policy holder’s co-pay amount is 20%, and they make a $1,000 claim (depending on the insurance provider, taxes may or not be covered under the policy), the policy holder will be reimbursed $800 (less the deductible, if applicable).
Older pets will generally have either a higher premium or a higher deductible than a younger pet with the same coverage. This is due to older pets having a higher risk of developing a medical condition.
1000 Central Avenue
Saskatoon, SK
S7N 2G9
Hours: 8:30am - 5:30pm