Pet Insurance Interviews >Vetinsurance Insurance
This interview is part of a series of pet health insurance company interviews. I am using the same ten questions for a variety of veterinary health insurers so that viewers can learn about each company and compare what plans are available. In this interview, Melissa Kowalchuk, a representative from Vetinsurance, answers ten questions about pet care plans available through Vetinsurance.
NOTE: Vetinsurance is a Canadian sister company to Trupanion in the US, that Melissa also provided interview answers for.
Question 1: How long has your company been in business, and where are you based?
Answer 1: Vetinsurance started in 1999 and issued its first policy in December of 2000. Vetinsurance is based out of Vancouver, BC.
Question 2: Are clients able to go to any veterinarian, or only through your insurance providers?
Answer 2: Clients with Vetinsurance can choose any licensed veterinarian in the Canada, or while temporarily visiting the US, including referral specialists. Vetinsurance follows an indemnity insurance (reimbursement) model where the pet owner pays his or her veterinarian upfront, then submits the claim to us. We would then reimburse the pet owner 90% for approved claims based off of the actual veterinary costs that the pet owner incurred.
Question 3: Are hereditary and breed-related conditions covered?
Answer 3: Yes, Vetinsurance covers all hereditary and breed-related conditions, with hip dysplasia being the one exception. Hip dysplasia is not covered.
Question 4: Are age-related (senior) checkups, illnesses, and medications covered?
Answer 4: Senior checkups are not currently included in the Vetinsurance plan, as this qualifies as preventive or routine care, which Vetinsurance does not cover. Senior illnesses and medications would be covered.
Question 5: Does your company offer wellness plans?
Answer 5: Vetinsurance does not cover expected veterinary costs (the ones that you can plan for) because we believe that pet owners should keep their dollars in their pocket rather than paying us to handle their checkbook. Dollar trading for routine vet visits would double monthly premiums without adding value. Instead, Vetinsurance offers an affordable and practical type of pet health insurance that covers major costs that you can't anticipate.
Question 6: What types or levels of health insurance medical plans are offered?
Answer 6: We offer one plan that covers all accidents and illnesses without imposing a deductible.
Question 7: If a wellness plan is available, can it be added to, or incorporated with, the medical health plan?
Answer 7: N/A (not applicable)
Question 8: Is there an annual or lifetime benefit cap?
Answer 8: Vetinsurance currently has a lifetime cap set at $20,000, however, over the history of the company this cap has increased from $10,000 to the current $20,000. Subject to approval, the lifetime cap may increase to reflect the increase in the local cost of veterinary medicine.
Question 9: How are "usual and customary" fees determined?
Answer 9: Vetinsurance doesn't use a "usual and customary" fee guide of any sort, but rather reimburses based off of actual veterinary bill subject to fees no greater than the amount charged to any other client of the treating veterinary clinic. Vetinsurance holds the stance that a pet insurance company should never dictate what veterinarians are charging their clients, and therefore will never set any type of benefit schedule or "usual and customary" fees.
Question 10: What specific things stand out about your company? (i.e. strengths, unique offerings, etc.) Feel free to ad-lib here.
Answer 10: Vetinsurance has been around for 10 years while receiving the highest customer reviews in Canada and earning the industry's highest retention rates. Vetinsurance offers lifetime health coverage for all dogs and cats and won't increase premiums due to the pet aging or from filing claims. Vetinsurance's founder and CEO, Darryl Rawlings, helped create the North American Pet Health Insurance Company (www.naphia.org), which Vetinsurance is currently a member of.
Thank you, Melissa Kowalchuk, for taking time to answer these questions.
Please visit Vetinsurance web site to learn more and ask any specific questions you may have.
Company web site: Vetinsurance Pet Insurance
Pet Insurance Interviews >Vetinsurance Insurance
