Catastrophic, Emergency and Full Coverage
Most pet insurance companies have several different policy types available for purchase. The difference between policies is in the type of coverage provided as well as benefits paid versus the cost of the policy.
A catastrophic policy is normally the least expensive policy. A catastrophic policy will also normally have the highest deductible and the least overall coverage as well. The purpose of a catastrophic policy is to help prevent just that, a catastrophe. If your pet needed treatment in the thousands of dollars range, this policy would help to provide coverage after meeting its high deductible. It would not normally cover smaller problems or any routine veterinary visits. This type of policy might be considered by a pet owner who only wants to protect themselves from the worst case scenario for their pet. With a policy of this type, it would be wise to have a savings account to help pay for routine or less costly visits to the vet, as well as the amount of the policy deductible.
These policies are also sometimes referred to as "entry level" or sometimes "basic". Policies such as these are typically less expensive, but also cover fewer expenses and may have higher deductibles. On the positive side the premiums are usually less. It is possible to find an insurance policy like this for beginning around $12/month. It is important to carefully read your policy to see what is covered and what kind of deductibles apply. This type of policy might be better for the pet owner who has a smaller budget for pet insurance, but still wants coverage for serious conditions. These policies can be good for people want coverage in case of serious injury, for example being hit by a car.
Full Coverage Policy
Policies that fall into the Full Coverage category are sometimes referred to as "Premier" or "Top Tier". These policies can cover much more per incident, and might even cover vaccinations and well-pet visits. Policies of this type typically start around $28/month depending on the company. These policies are beneficial to people who want more complete care for their pet as well as coverage for something very serious such as an accident or major surgery.
It is very important to choose your coverage carefully and to determine the coverage level that gives you peace of mind.