What deductible should I get on my pet insurance policy?

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You might be wondering which is better to get on your policy: a per-incident deductible or an annual deductible. The short answer is that neither is really better. They're both designed to share costs between you and the insurance company. The important thing is to choose a deductible amount that you're comfortable paying if the need arises. However, if you can predict the future:

  • And can see that your pet will have a lot of incidents requiring vet care over the next 12 months, then an annual deductible is probably better.

  • Or, if your pet will only have 1 or 2 incidents requiring vet care over the next 12 months, then a per-incident deductible is probably better.

One more important thing to remember about deductibles: if you want a low deductible, you'll pay for it with a higher premium. It also works the other way: if you're willing to accept a higher deductible, your premium will be lower. Neither is necessarily better - it just depends on your preference:

  • Do you want to pay less out of pocket when you actually seek vet treatment for your pet? Then get a lower deductible

  • Do you want a lower fixed amount that you pay monthly, and are comfortable with a larger amount you're on the hook for when you go to the vet? Then get a higher deductible