Two things pet insurance will cover — and three it won’t

If you’ve ever spent a fortune at the emergency vet, pet insurance might sound appealing. By paying some of your vet expenses, the policies can save you money and help you make care decisions based on what’s best for your pet rather than what you can afford.

But insurance doesn’t pay for everything. Before you buy pet insurance, you will want to understand exactly what it will — and won’t — cover.

Covered: Accidents

If you want coverage for unexpected vet expenses, you can choose either an accident-only plan or an accident and illness plan. Both can pay to treat injuries such as broken bones, snakebites or swallowed socks.

Coverage varies by company, but you can expect most pet insurance policies to pay for diagnostic tests, surgery and medications, Dr. Aliya Mccullough, chief veterinary officer and director of veterinary affairs at Fetch Pet Insurance, said in an email.

The vet’s examination fee may or may not be covered, depending on your policy. And some companies might charge extra to cover prescription medication.

Most pet insurance policies have a waiting period between when you buy the plan and when coverage takes effect. If your pet is injured during the waiting period, your plan won’t reimburse you.

Usually covered: Illness

The most common type of insurance, accident and illness coverage, also pays for treatment if your pet gets sick.

Some of the most frequent reasons for vet visits are allergies, infections, stomach issues, arthritis and cancer, Mccullough said. The conditions generally fall under a plan’s illness coverage, which can reimburse you for diagnostic tests, medication, surgery and hospital stays.

But exclusions may apply. “Some companies separate out certain types of treatments,” Kristen Lynch, executive director of the North American Pet Health Insurance Association, said in an email.

There might be limitations for illnesses such as hereditary conditions or dental disease.

Usually not covered: Pre-existing conditions

Some people don’t think about buying insurance until their pet gets a serious diagnosis like cancer or heart disease — but by then it’s likely too late. Most pet insurance providers won’t cover conditions that showed symptoms before you bought your policy or during the waiting period.

Some insurers will pay to treat curable pre-existing conditions if they haven’t shown symptoms for a certain period of time, Mccullough said. Curable conditions could include respiratory infections or broken bones.

Usually not covered: Preventive care

A standard pet insurance policy won’t cover many common vet expenses a new pet parent faces, such as spay or neuter surgery, vaccinations and annual checkups. Insurers consider such services to be routine care and won’t pay for them under an accident and illness plan.

But many companies offer preventive care coverage as an add-on. Compare the cost of this coverage with what your vet charges for routine services to make sure it’ll save you money.

Not covered: Pre-deductible costs

A deductible is the amount you pay toward vet expenses before your insurer starts reimbursing you. If you have an annual deductible of $500 and your pet needs $300 of treatment in a given year, your plan won’t pay anything.

You can often lower the cost of your plan by choosing a higher deductible. Just be sure to pick an amount you can afford, said Janet Ruiz, director of strategic communication at the Insurance Information Institute.