About Us Famous & Spang Associates a full-service, generalist insurance agency representing many top rated insurance carriers, was founded in Aberdeen, Maryland circa 1909.

Pet Insurance 101: Key Factors to Consider When Choosing a Policy

Pet Insurance 101: Key Factors to Consider When Choosing a Policy

portrait of a dog and a cat looking at the camera in front of a white background

Pets are cherished members of our families, and their health and well-being are of paramount importance. Just like with any family member, it’s essential to consider their medical needs and prepare for unexpected health expenses. Pet insurance is an invaluable tool that provides financial support for your furry companions’ healthcare. In this article, we’ll explore the fundamentals of pet insurance and the key factors you should consider when choosing the right policy for your beloved pets.

  1. Understanding Pet Insurance:

Pet insurance is designed to help cover the cost of veterinary care in case your pet gets injured or becomes ill. It operates similarly to human health insurance, allowing you to pay a monthly premium in exchange for coverage.

  1. Types of Coverage:

Pet insurance policies vary, but they generally fall into three categories:
Accident-Only Coverage: This type covers injuries resulting from accidents, such as fractures or injuries from falls.
Accident and Illness Coverage: This broader coverage includes accidents and common illnesses like infections or allergies.
Comprehensive Coverage: Comprehensive policies cover accidents, illnesses, and often preventive care like vaccinations and wellness exams.

  1. Premium Costs:

The premium is the amount you pay for pet insurance each month. Premium costs can vary based on factors like your pet’s age, breed, location, and the coverage type you choose.

  1. Deductibles:

Deductibles are the amount you must pay out of pocket before your insurance coverage kicks in. Policies often allow you to choose your deductible amount, with lower deductibles typically resulting in higher premiums.

  1. Coverage Limits:

Many pet insurance policies have annual or per-incident coverage limits. Ensure that the coverage limit aligns with your pet’s potential healthcare needs.

  1. Waiting Periods:

Most policies have waiting periods before certain coverage becomes effective. This prevents individuals from purchasing insurance solely for immediate claims.

  1. Pre-Existing Conditions:

Be aware that pre-existing conditions are typically not covered. These are conditions that existed before you purchased the insurance policy.

  1. Coverage Exclusions:

Review the policy for specific exclusions, which are conditions, treatments, or situations that are not covered. Common exclusions include elective procedures and cosmetic treatments.

  1. Choice of Veterinarian:

Some policies limit your choice of veterinarians or require you to use a network of providers. Check if your preferred vet is within the insurer’s network.


Pet insurance is an essential tool for safeguarding your pets’ health and providing peace of mind. When choosing a policy, carefully evaluate your pet’s needs, your budget, and the policy’s terms and conditions. By considering these key factors and selecting the right coverage, you can ensure that your furry family members receive the best possible care, no matter what health challenges may arise. At Famous & Spang, we’re dedicated to helping you make the best choice for your pets’ well-being.

Contact Famous & Spang Insurance

As an independent agency, we are here to help you find the right coverage.

Famous & Spang Insurance

Aberdeen, MD

200 W. Bel Air Ave.
Aberdeen, MD 21001

Phone: 410-272-2300
Text: 410-449-7540
Fax: 410-575-6927

We write insurance solutions throughout the Mid-Atlantic Region and beyond.