Pet insurance: Now €15 cashback! | Figopet.de (2024)

FAQs

How do I get my money back from pet insurance? ›

Reimbursem*nt is the amount a pet insurance company pays you for veterinary expenses. It is expressed as a percentage ranging from 60% to 100% depending on the plan you choose. The most popular pet insurance plans have a reimbursem*nt of 80% to 90% of your total vet bills.

If you are waiting for a claim to be assessed and paid updates will be provided in My account. For any other refunds, this can take between 5 and 10 working days to reach your bank account.

The Verdict: Is Pet Insurance Worth It Or Should I Just Save Money? For many people, especially in 2024, pet insurance is worth the cost — and better than just setting aside a rainy-day fund. With the right coverage, you can provide your pet with diagnostics, treatments, and medications without serious financial risk.

If you want to cancel your policy after the cooling-off period you should check your insurance policy. Most insurers will give you a refund if you have not made any claims during the policy year but you will usually have to pay administration fees.

A maximum limit or payout per year (also known as Annual Limit) is the maximum amount of money a pet insurance provider will reimburse you for eligible claims within a given year.

It's usually not too difficult to know when you should claim, and you can always check your policy documents or speak to your insurance provider if you're not sure. The only time it might not be worth claiming is if your policy excess – that's the amount you pay to make a claim – is more than the cost of the treatment.

Most plans offer between 70-90% reimbursem*nt. This means that when you submit a claim, all the charges that fall within the coverage limitations will be paid back to you at whichever percentage you chose when you enrolled your pet.

With a 90% reimbursem*nt percentage, you are responsible for a co-pay of the remaining 10%. Since your bill is $1,000, and you've paid the $100 deductible, this leaves a remaining balance of $900.

Most pet insurance providers offer a full refund of the policy premium if you cancel within the first 30 days and did not file claims during that time. If you cancel after the first 30 days, you may be eligible for a partial refund of the unused part of your premium.

Does pet insurance take effect immediately? ›

What Are Typical Pet Insurance Waiting Periods? The typical waiting period is 14 days, particularly for illness coverage. Some pet insurance providers have a waiting period of only a few days for accident coverage. Hereditary conditions such as hip dysplasia typically have much longer waiting periods — up to a year.

Most pet insurance plans don't offer immediate coverage for accidents, injuries, or routine care.

Pet insurers with maximum age limits for new policies often set them at 10 years old, so if your pet is older than 10, you'll want to look for a company with a higher age limit or no limit. Pet insurance for older dogs and cats likely will also be more expensive than a policy for a younger animal.

Based on the evaluation of over a dozen pet insurance providers, Lemonade and ManyPets are the cheapest pet insurance companies. ManyPets is the most affordable pet insurance with an average monthly cost of $23, and the cheapest option for cats at $16.

Simply put: The best age to get pet insurance for dogs is when they're young (puppies are best). As they age their health will inevitably decline, and they'll be inherently riskier to insure. That risk will be passed on to you, the owner, in the form of higher monthly and annual insurance premiums.

Cancelling pet insurance before renewing

If you decide not to renew, you need to contact your provider and tell them to end the policy. You can usually do this online or on the phone. If you're unsure, contact your provider and ask them what the process is.

However, if your claim was denied and you believe that it was done so wrongfully, you can appeal a claim. With this request, you are asking your insurance company to review the previous decision, and you can explain why you should be reimbursed.

Yes, you can cancel pet insurance at any time.

Most pet insurance companies have a 30-day money-back guarantee period, also known as a 30-day free look period or cooling-off period. If you cancel within this period, you'll get a full refund for the premiums you've paid, provided you haven't filed a claim.