A pet deductible is the amount you must pay out-of-pocket for your pet’s covered veterinary expenses before your pet insurance policy begins to reimburse you.
Types of Pet Deductibles
. Annual Deductible:
This is a set amount you pay each policy year before the insurance starts covering any claims. Once you meet the annual deductible, the insurance company begins to reimburse you for covered expenses for the rest of the year.
Example: If your annual deductible is $250, you must pay $250 in covered veterinary expenses out-of-pocket before the insurance company starts reimbursing you.
How Pet Deductibles Work
Before Reaching the Deductible:
You pay 100% of your pet’s covered veterinary expenses out-of-pocket until you reach the deductible amount.
. After Reaching the Deductible:
Once you meet the deductible, your pet insurance policy begins to reimburse you for a percentage of the covered expenses, typically according to the policy's reimbursement rate