Pet health insurance policy definition of "deductible"
The Annual amount you pay out-of-pocket for the Actual Cost of Veterinary Treatment for any eligible Condition after the application of your selected Co-insurance amount.
What is an Annual Deductible?
An annual deductible is the amount of money you pay out-of-pocket towards veterinary expenses before your pet insurance plan kicks in. The amount varies depending on your individual pet insurance plan.
How Annual Deductibles Work
Odie allows you to choose an annual deductible between $50* - $1,000.
Now, let's say you pick an annual deductible of $500. You will need to pay $500 toward eligible veterinary costs out-of-pocket each year before you can begin getting reimbursed by the pet insurance company.
Tip: The lower your deductible, the less you'll need to pay out-of-pocket before getting reimbursed for eligible veterinary costs.
*$50 deductible only eligible on plan with a 70% reimbursement.