What is a per-incident deductible?

Some policies require meeting a deductible for each new condition rather than annually.

A per-incident deductible is a specific amount of money that you, as a pet owner, must pay out of pocket for each separate illness or injury that your pet experiences. Unlike an annual deductible, where you pay a one-time set amount for the entire year regardless of how many incidents occur, a per-incident deductible resets with each new condition. This means if your pet develops a new illness or suffers from a different injury, you will need to meet the deductible amount once again before the insurance company starts to cover the costs associated with that new condition. This type of deductible can be beneficial for pet owners with relatively healthy pets who encounter rare ailments, but it might become costly if your pet frequently falls ill or gets injured.

Imagine you have a dog named Buddy. In January, Buddy gets sick and is diagnosed with a stomach infection. Your pet insurance policy has a per-incident deductible of $200. You pay the $200 for the vet bills, and any additional expenses related to this condition are covered by the insurance. Later in July, Buddy injures his paw, requiring veterinary treatment. Even though it’s still the same year, because this is a new condition, you’ll need to pay another $200 as the deductible for this specific incident before your insurance company helps cover the costs. Each separate incident or condition starts a new cycle of meeting the deductible.

When considering a pet insurance policy with a per-incident deductible, think about your pet’s health history and lifestyle. If your pet is typically healthy or has specific conditions that are unlikely to reoccur, this might be a cost-effective option. However, if your pet is prone to multiple health issues, selecting a plan with an annual deductible might save you money in the long run. Always read the terms and conditions thoroughly to understand how the deductibles apply and choose the option that best fits your financial situation and your pet's needs.