If a condition develops during the waiting period, it'll typically be considered a pre-existing condition, even though you bought the insurance policy before the condition appeared. This is another way to prevent fraud — the waiting period makes it difficult to take advantage of a lull in the symptoms of a chronic condition or to buy insurance when you suspect your pet is developing a medical issue. Even if it's an honest, unforeseen stroke of bad luck, a condition that developed during the pet insurance waiting period typically won't be covered.