What is a pet insurance deductible?

12 minute read Published on Mar 16, 2023 by BrokerLink Communications

Man Looking At Paperwork And Playing With Pet Dog At Home.

Choosing the right pet insurance plan for your family’s beloved pet can be difficult, especially when there are so many choices to make, like what coverage to include or what deductible to choose. Luckily, BrokerLink can help you find the ideal pet insurance policy for your pet and even help you select a deductible that meets your needs and budget. Learn more about Fetch pet insurance and pet insurance deductibles below.

Fetch pet insurance policies

What is Fetch pet insurance? Fetch is BrokerLink’s official pet insurance partner. They are a Canadian-American pet insurance company headquartered in New York City. The company quickly made a name for itself thanks to the simplicity and affordability of its policies and its comprehensive coverage. Fetch makes pet insurance easy by providing customers with quality coverage for dogs and cats across the U.S. and Canada. What makes their pet insurance stand out among the rest is the extensive coverage they offer, how easy it is to enrol with Fetch and submit a claim, and the many freedoms that customers have in relation to their policies (e.g. they can cancel their plans whenever they want, as well as choose their preferred annual coverage amounts, deductibles, and reimbursement percentage). Plus, Fetch is affordable, with plans for dogs costing an average of $50 per month and plans for cats costing an average of $30 per month.

Fetch pet insurance coverage

What does pet insurance cover? We’re here to tell you. Fetch prides itself on their coverage. They offer some of the most comprehensive pet insurance on the market today. They even offer coverage for health-related scenarios that many other insurance companies refuse to cover, like hereditary conditions related to a pet’s breed, injury and disease in all of your pet’s adult teeth, and the exam fees that come with sick visits to the vet this alone can save you between $50 and $250 per vet visit. Ultimately, if you want to avoid expensive emergency vet visit costs in Canada, purchasing a Fetch insurance plan can help you. By enrolling with Fetch, you can receive between 70% and 90% back on any eligible vet bills. The following is a list of injuries and illnesses that policyholders can expect their Fetch pet insurance plan to cover in other words, you can be reimbursed for expenses related to any of the following:

  • Prescription medications & supplements
  • Emergency vet visits
  • Virtual, in-home & office visits
  • Hospital stays
  • Physical therapy
  • Allergies
  • Surgeries
  • X-rays & CT scans
  • Ultrasounds
  • Blood tests
  • Breed-specific issues, including hip dysplasia
  • Specialists
  • Sick-visit exam fees
  • Laboratory tests
  • Vomiting & diarrhea
  • Hereditary & congenital issues
  • Swallowed objects & toxins
  • Every tooth covered
  • Gum disease
  • Diabetes & insulin
  • Cancer treatment
  • Acupuncture & chiropractic care
  • Treatment for aggression & separation anxiety

NEW Optional Wellness Coverage

In addition to Fetch’s injury and illness coverage, you can now choose to add a Wellness Plan which covers routine and preventative care. Care covered in the Fetch Wellness plans includes:

  • Annual exam
  • Canine Bordetella / Feline FELV vaccines
  • Canine DHLPP / Feline FVRCP vaccines
  • Canine Rabies / Feline Rabies vaccines
  • Canine Lyme / Feline FIP vaccines
  • Heartworm, flea & tick prevention
  • Heartworm tests
  • Dental cleaning
  • Spaying or neutering
  • Blood test
  • Urinalysis
  • Fecal test
  • And more

Have questions about Fetch’s pet insurance coverage? Give them a call today.

Get a pet insurance quote 1-866-381-1946

What your Fetch pet insurance policy does not cover

Fetch pet insurance does not cover the following:

  • Pre-existing conditions: Any pre-existing conditions that your pet has prior to enrolment or that are discovered during the waiting period.
  • Cosmetic or elective procedures: Any cosmetic or electric procedures, such as tail docking, ear trimming, pet declawing, etc.
  • Prescription food: Food prescribed by your vet is not covered. However, supplements prescribed by your vet to treat an illness covered by your policy will be.
  • Claims submitted after 90 days: Fetch has a limit on how long after your pet receives treatment that you can file a claim, and that limit is 90 days. This means that your policy will not cover claims submitted more than 90 days from the date your pet went to the vet.

Pet insurance deductibles explained

Now that you know a little more about what Fetch is and what coverage their pet insurance plans feature, it’s time to dive into the world of pet insurance deductibles. Before you decide on what deductible to select for your Fetch plan, it’s important to understand what deductibles are and how they work.

First, deductibles are the amount a policyholder is required to pay toward a claim before the insurance company will step in and pay. All insurance policies have deductibles; not just pet insurance policies. So if you have a car or home insurance policy, you likely have to choose a deductible for each of those as well. How a deductible works is as follows, if you choose a $250 deductible for your Fetch pet insurance plan and you have a qualifying vet bill for $500, you will have to pay $250 of that vet bill out of your own pocket. The remaining $250 will be covered by Fetch according to your reimbursement percentage. You will cover the $500 at the time of the services, then submit to Fetch for reimbursement. Fetch reimbursement rates range from 70% to 90%. Continuing with this example, if you selected an 80% reimbursement rate, then Fetch would reimburse you for 80% of $250, which amounts to $200.

Fetch pet insurance deductibles

Not all pet insurance deductibles are the same. Policyholders usually have several options when it comes to their deductible. At Fetch, policyholders can choose a deductible between $250 and $700 ($250 is the minimum policy deductible and $700 is the maximum). Further, Fetch's pet insurance are annual deductibles, which means they reset each year, assuming you renew your pet insurance policy. It is worth noting that higher deductibles usually result in cheaper pet insurance policies than lower deductibles, simply because when you choose a higher deductible, you are agreeing to take on more financial responsibility in the event of a claim. Contact Fetch to learn more about your pet insurance deductible options.

What is an ideal pet insurance deductible?

Selecting a deductible for your pet insurance policy is one of the most difficult decisions you must make as a policyholder. Odds are you would prefer to pay as little as possible toward a potential claim. However, on the flip side, you may also want to keep pet insurance costs low, and a high deductible is likely not conducive to this. Keep in mind that of all the factors that influence pet insurance costs, which we will go into further detail about below, your deductible typically plays the biggest role.

Therefore, when deciding what deductible is ideal for your pet insurance policy, you must consider your own budget, as well as the average cost of a vet visit in your area. You will also need to ask your insurance provider what your deductible options are. As noted above, Fetch's pet insurance deductibles start at $250 and go up to $700. One of the most common deductibles chosen by pet insurance policyholders is $250. However, choosing a low deductible like this can lead to a higher premium. Ultimately, the ideal pet insurance deductible will vary between policyholders. Generally, we recommend choosing an amount that you can reasonably afford to pay in the event of a claim. It is worth noting that with Fetch pet insurance, as well as most pet insurance plans, the policyholder must pay the entire vet bill upfront. They will only be reimbursed by the insurance company afterward. So if the deductible amount that is deducted from the reimbursement amount is still too high and will have major or long-term effects on your finances, then you should make sure to select a lower deductible. Please note that Fetch pet insurance is flexible, so if you start out with a certain deductible but decide you want to raise or lower it in subsequent years, give them a call to speak with a Fetch insurance agent about doing so.

Factors that may influence the cost of your pet insurance policy

The deductible you select is just one factor that will influence how much your Fetch pet insurance policy costs, albeit a major one. Still, however, it is important for policyholders to understand which other factors will impact their Fetch pet insurance premium. Some of these factors are within your control, like the annual coverage amount or reimbursement rate you choose. However, many others relating to your pet are not, such as their age or what breed they are. Please note that the average cost of Fetch pet insurance in Canada is $50 per month for dogs and $30 per month for cats. However, the following details, along with the deductible you choose, will determine whether your canine or feline policy is at, above, or below average. Without further ado, this is a list of factors that Fetch will consider when calculating your pet insurance rate:

  • The species of your pet (dog or cat): Dog insurance plans tend to cost more than cat insurance plans.
  • The age of your pet: Unsurprisingly, pet insurance for older pets usually comes at a higher price than pet insurance for younger pets, simply because they are at higher risk of illness.
  • The breed of your pet: Some specific breeds of cats and dogs may be historically more susceptible to certain diseases. If your pet is one of these breeds, your insurance costs may be higher.
  • Your location: Where you and your pet live can also impact the cost of insurance, as the average cost of a vet visit may be more in some parts of the country than others.
  • Your annual coverage amount: Like your deductible, you will be able to choose which annual coverage amount you would like for your Fetch pet insurance plan. An annual coverage amount is the maximum amount of money that you can be compensated via your policy each year. Fetch annual coverage amounts start as low as $2,500 and go up to unlimited. Higher annual coverage amounts, especially the maximum unlimited, will cost more than lower annual coverage amounts.
  • Your selected reimbursement rate: A third policy choice you will have to make is your reimbursement rate. A reimbursement rate is the amount, as a percentage, that a policyholder will be reimbursed for in the event that you submit a claim and Fetch approves it. Fetch offers three reimbursement options to customers: 70%, 80%, and 90%. If you enrol in a Fetch feline insurance policy with a 70% deductible, and you submit a claim that is approved, Fetch will reimburse you for 70% of your total vet bill less the deductible. As with annual coverage amounts, the higher your reimbursement rate, the more expensive your Fetch plan is likely to cost.

Factors that do not influence the cost of your Fetch pet insurance policy

The main factors impacting the cost of a Fetch insurance policy are the age, breed, and location of your pet, along with your policy preferences. That said, Fetch customers might be pleased to learn that several factors have no impact whatsoever on your rates. These factors include the sex of your pet, whether your pet is spayed or neutered, whether your pet is an indoor pet, outdoor pet, or a combination of the two, and your pet’s prior medical or behavioural history.

Pet insurance premiums are calculated using Fetch Forward technology

To find out how much your pet insurance plan with Fetch will cost you, contact Fetch for a free quote. They offer complimentary quotes to prospective customers and can provide insight into Fetch Forward, which is the technology they use to calculate premiums. The company’s Fetch Forward technology has the ability to calculate fair, accurate, and competitive insurance rates that take into account pertinent factors like your pet’s age, breed, and location.

How to choose the right deductible for your pet insurance policy

Choosing the right deductible for your Fetch pet insurance policy can seem overwhelming. But remembering the goal can help, which is to select a deductible with the most value for you and your pet. When trying to decide which pet insurance deductible makes the most sense, we recommend considering two main factors: the age of your pet and your budget.

The age of your pet

The age of your pet is the first factor that you can use to determine which pet insurance deductible is right for you. Let’s say you have a puppy who is just one year old. In this case, it might make the most sense to choose a policy with a low deductible, along with a low annual coverage amount. This way, you will get paid out quickly in the event of a claim and you can rest easy knowing your plan will protect you against minor health issues.

Conversely, if your pet is older and is therefore more at risk of getting sick, then selecting a high deductible and a high annual coverage amount might make the most sense. Since vet bills for senior dogs are often more expensive, reaching a $500 deductible would probably not be too difficult, and this way, you would have protection against both large and small vet bills.

Your budget

When choosing a deductible, remember that the lower the deductible, the higher your insurance premiums, and the higher your deductible, the lower your insurance premium. If you cannot afford to pay for a more expensive insurance policy, then choosing a higher deductible might make more sense. However, if you would be unable to pay your high deductible in the event of a claim, or doing so would wreak havoc on your finances, then it’s generally recommended to choose a policy with a lower deductible. For more information on how deductibles impact premiums or to find out exactly how different deductibles would impact the cost of your Fetch pet insurance policy, contact Fetch.

Get a pet insurance quote 1-866-381-1946

When do pet insurance deductibles apply to claims?

Every time you file a pet insurance claim with Fetch and that claim is approved, your pet insurance deductible will apply. Remember that pet insurance plans do not cover all illnesses, injuries, or health-related expenses for your pet. This means that if you file a claim for an expense that your policy does not cover, such as a vet visit relating to your pet’s pre-existing conditions, your insurance company may deny you. In such an instance, your deductible would not apply because your claim was not approved. However, anytime a claim is submitted and approved, Fetch will reimburse you at your chosen reimbursement for the remainder of your vet bill after your deductible is deducted.

If I have multiple pets, does each pet have their own deductible?

Yes, if you have multiple pets, you will need to enrol in a Fetch insurance plan for each individual pet. Then, for each insurance plan, you will need to choose a deductible. That said, if you wish, you may be able to select the same deductible for each policy.

Can I reduce my pet insurance deductible?

Depending on the pet insurance deductible you choose, you may be able to lower it. For example, if you choose a $500 deductible but decide that you want to lower it to $250, you can speak with a Fetch insurance agent about doing so. You can also update your deductible when your pet insurance plan is up for renewal. That said, if you have already chosen the lowest pet insurance deductible of $250, then you likely will not be able to reduce it further.

Can I buy a pet insurance policy with no deductible?

Fetch does not offer pet insurance policies with no deductibles. Rather, Fetch's pet insurance deductibles range from $250 to $700, and policyholders must choose a deductible in this range.

Why should I choose a high deductible for Fetch pet insurance policies?

Many policyholders are hesitant to choose a high pet insurance deductible simply because they do not want to be responsible for paying more money in the event of a claim. But the reality is that sometimes, selecting a higher policy deductible is the smartest choice. Since higher deductibles often come with significantly reduced premiums, the savings that come from purchasing a policy with a high deductible could make a big difference to your wallet. This is especially true if your pet is young and healthy and would therefore have relatively low vet bills. During the years when your pet’s medical bills may be cheaper, a higher deductible might make sense, as you can use the cost savings from your less expensive policy to cover any vet bills that come up.

Contact Fetch to learn more about how pet insurance deductibles work in Canada

Still have questions about pet insurance deductibles? Don’t hesitate to reach out to Fetch directly. They can explain all there is to know about pet insurance deductibles, including how they work, what your options are, and how to choose the right one for you and your pet. You can also learn how deductibles impact pet insurance costs by obtaining a free quote online now.

Get a pet insurance quote 1-866-381-1946

For related articles, check out our pet travel tips, and how to protect your pet in your car.