(Yahoo) An instrumental part of sound financial planning is research. No one likes to be surprised by fees and extra charges when it comes time to pay the bills.
But if you know what to expect in advance you can make adjustments to potentially reduce costs. That’s why it’s so important to understand the factors that affect rates. Whether you’re shopping for mortgages, life insurance or pet insurance, it helps to be prepared.
If you’re interested in pet insurance, it pays to speak to an insurance expert. They can answer any questions you may have and provide a free quote.
5 factors that affect pet insurance rates
Here are five factors that affect pet insurance rates.
Age
This may seem obvious, but don’t forget its influence when applying for pet insurance. Just like life insurance for humans, the older your pet is the more you’ll likely have to pay. That’s because older pets are more prone to health issues than younger ones are and their subsequent care will be more expensive.
This is why it makes sense to get pet insurance now before your pet ages and bills rise. Speak with a pet insurance professional who can help you get started.
Animal type
This may be a case of too little too late for current owners. But for those who don’t yet have a pet – or want to add a new one to the family – it’s helpful to know that dogs are typically more expensive to insure than cats. Dogs and cats both have their own medical issues to deal with but cats usually have fewer, thus making them less expensive to insure (and less expensive for you to pay for).
Breed
There are certain breeds that are predisposed to medical ailments. A German Shepherd is more likely to need a medical procedure for hip dysplasia than most other breeds, for example. English bulldogs, Frenchies and similar dog types are prone to suffer from Brachycephalic Airway Obstruction Syndrome (BAOS). Be aware of this when comparing pet insurance rates. If you have one of these breeds you may wind up paying more.
