If These 3 Things Apply to You, It May Be Time to Switch Pet Insurance Companies

You should be happy with your pet insurance -- and settle for nothing less.

When you adopt a pet, you take on a host of expenses. These include food, grooming, preventive care, and, in some cases, the cost of addressing health issues. The latter, however, can be prohibitively expensive.

If your pet gets injured, for example, a series of tests (like X-rays) to assess their condition could cost hundreds or thousands of dollars -- and that's before your pet even receives treatment for the issue at hand. Similarly, as pets age, their likelihood of being diagnosed with a medical condition increases. And if that happens, your pet care costs could skyrocket.

That's where pet insurance comes in. While you might have to work the cost of pet insurance premiums into your budget, in exchange, you'll generally be protected from having to shell out a catastrophic amount of money if your pet is hurt or becomes ill.

But if you're going to pay for pet insurance, you might as well have a policy that works well for you. And if these three signs apply to you, it means it may be time to switch insurers.

1. You're overpaying for mediocre coverage

As a general rule, you get what you pay for with insurance. Paying a higher premium might result in more comprehensive coverage. But if you've found that your pet insurance company charges high premiums but doesn't offer better coverage than what other people you know have, then it may be time to make a change. You may find that you're able to secure the equivalent amount of coverage with a different insurer, only at a lower premium cost.

2. Your pet insurance company has poor customer service

It's often the case that people who have to make a call to a pet insurance company do so when they're experiencing a health issue or crisis with their pet. And in that situation, you want someone on the line who's helpful and knowledgeable. You also don't want to get stuck waiting 25 minutes to speak to a live person -- especially not when you're en route to the animal hospital. If you've found that your pet insurance company is lacking in the customer service department, that alone is a good reason to switch.

3. Your pet insurance company is slow to reimburse you

Pet insurance often works by having you pay upfront for pet care using your own debit or credit card, and then submitting a claim for reimbursement. But some pet insurance companies are slower than others to process claims and reimburse customers. If yours definitely falls on the slow end of the spectrum, then it could be time to change. Waiting a long time to get reimbursed could mean having to carry a credit card balance forward and accrue interest on it.

Ultimately, your pet insurance policy should make your life easier, save you money on vet care, and bring you peace of mind. If you're not getting those things, then it pays to shop around and see what options you have for changing your coverage.