Final answer:
An addition to a pet insurance policy that changes the coverage is known as a rider. Insurance companies offer policies with high copays to those who want to pay lower monthly premiums, and conversely, high premium policies with lower copays for those who expect regular medical services.
Step-by-step explanation:
An extension of coverage that can be purchased and added to an existing pet insurance policy is called a rider. This term refers to any modification to an insurance policy that changes the coverage or terms of the policy. For example, a pet insurance policy might offer a basic plan that covers accidents and illnesses, and a policyholder could choose to add a rider that provides coverage for routine wellness visits to the vet or dental care.
Regarding the second part of the question, an insurance company may offer a policy with a high copay to customers who prefer to pay less in monthly premiums. Conversely, a policy with a high premium and a lower copay might be more suitable for those who anticipate needing frequent medical attention and would prefer to pay more upfront in premiums rather than out-of-pocket expenses at the time of medical care. This allows individuals to select insurance plans that best fit their financial situation and expected healthcare needs.