A Vet's Review of Trupanion Pet Insurance
2024

• Does not cover exam fee for accidents/injuries and illnesses
• Is its own underwriter - Does not have a large financial party overseeing underwriting decisions
• Dental coverage for accidents and illnesses is limited.

• Is its own underwriter - Able to make its own decisions about its underwriting terms and conditions
• Coverage when travel out of state, to Puerto Rico, or to Canada
• Generous unlimited lifetime maximum payout structure
• They provide a medical review once they receive your application so that you know upfront what the the pre-existing conditions will be. This is a strong plus as not many companies offer this. Note: It is not clear whether you must ask for one or if it is automatically sent to you.
• Provides comprehensive coverage in the 5 important areas as part of the base plan:
  1. Chronic disease
  2. Continual coverage for chronic disease
  3. Hereditary/congenital conditions
  4. Cancer
  5. Breed specific conditions

• Contact Trupanion for information on the specific reasons they may cancel a policy. Given that Nationwide unexpectedly announced the cancellation of over 100,000+ pet insurance policies in the spring of 2024, it's important to have clarity in this area.
• Based on their pre-existing conditions policy, signs can be used to denote something as pre-existing. As with all pet insurance companies that use this wording, I have concerns that this can be used to deny claims even when these previous signs are not directly related to the disease or condition currently in question.
• While the company, in their sample policy, does a good job at listing the bilateral conditions that fall under their pre-existing exclusions, more clarity is needed on whether or not Hip Dysplasia falls under this description. Their description of whether Hip Dysplasia is considered a bilateral condition is not clear.
• It is not clear whether reimbursements are calculated by taking the deductible first or the reimbursement percentage first.
• I would like to see more clarity on how, when and by how much their premiums can increase.

• Make sure you research what customers are saying about the company. A company may have the 5 components that should be part of a pet insurance plan, but the company may not be a hit with customers. Sites to check include but are not limited to BBB.org, Yelp.com and PetInsuranceReview.com. Things to look for include but are not limited to: How fast are payments paid?, What are customers saying about the pre-existing conditions policy?, How often are claims denied and for what reason?, What is the customer service experience like?, Are there issues with premium increases?
• Check with your state's Department of Insurance to see if any complaints have been filed for the company you are interested in.
• Make sure you understand what the waiting periods are.
• Make sure you understand their bilateral conditions policy.
• Make sure you understand any requirements that you must adhere to to maintain coverage.
• Make sure you read the terms and conditions to get a thorough understanding of all exclusions.
• Make sure you understand when and by how much your premium can increase.
• If you change plan levels, there is a possibility that all medical conditions present under the old plan will be considered pre-existing in the new plan. Make sure you ask the company if this is the case.
• For some companies, pre-existing conditions can be based on signs and symptoms alone, a diagnosis is not needed. For example, if your pet had a cough before you applied for pet insurance and this cough was discussed and written in the pet's medical record, there is the possibility that all future cough conditions, no matter what the cause, would be considered pre-existing - even if there was no treatment given. Make sure you ask the company if this is the case.
• Pet insurance companies are businesses. The top priority of any business is to make a profit for their stakeholders. Pet insurance companies can and may change your rates and terms to meet that top priority. A change of business ownership or underwriters can also be a catalyst for changes in your rates and terms.
  
  When you purchase pet insurance make sure you have a realistic understanding of this and how it can affect you.

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