Because this is a tough issue to deal with our goal is to arm you with the knowledge to help you to decide:
Is pet insurance right for you
What does it cover? What doesn't it cover?
Is it worth the cost?
What should you know before you look for pet insurance?
People buy Pet Insurance for the same reason they buy their own health insurance. An unexpected medical
problem could cost a large sum of money...and today may be the day.
WHAT INSURANCE CAN COVER
As a concept, Pet Insurance is a good thing, but you have to read the fine print.
Below are some examples of coverage available today from various insurers.
Routine Care Coverage:
This is your regular preventive veterinary care that is designed to catch and prevent serious medical problems.
In general this means:
Annual physical exams & vaccinations
Heart worm detection & treatment
Spay/neuter procedures
Teeth cleaning
Prescription medication for flea control
General & conprehensive health screening
Some Pet Insurance providers offer veterinary
HMO/PPO plans that cover these issues.
Others offer more coverage that includes
professional consultation, de-worming,
fecal tests, and microchip identification.
Pet Major Medical:
These cover procedures that would cost significantly more (as in, $1000s of dollars) without Pet Insurance:
Accidents & serious illness
MRI, CAT Scans, & X-rays
Surgeries
Hospitalization
Removal of ingested foreign objects
Snake bite treatments
Most Pet Insurance policies offer these coverages.
They are designed to protect you, the pet owner,
from having to decide between your pet's life or a financial
hardship. As always, check with the Pet Insurance
provider of your choice to make sure of these coverages.
Cancer:
Dogs and cats get cancer that often can be treated, just like humans. However, chemotherapy treatment can
cost $1000s of dollars for a pet. These treatments include:
Chemotherapy
Radiation treatment
Post-treatment medications & nutritional supplements
Cancer claims are the fastest growing cost to
Pet Insurance companies. As always, check with your provider.
What is NOT Covered:
Like most insurers, Pet Insurance companies have exclusions designed to keep premiums low.
Some of these include:
Elective & cosmetic procedures
Pet foods
Grooming
Behavioral problems
Congenital & hereditary defects (i.e., hip displaysia)
Any pre-exisiting conditions that were present prior to Insurance purchase
WHAT INSURANCE CAN COST
Pet insurance, on average, costs about 1/15 of what is would cost to insure an human.
Several factors determine the premium pet owners can expect to pay for pet insurance.
The biggest factors are:
The age of the pet:
Veterinary expenses are the highest during the last two years of a pet's life.
If the insurance company's actuarial tables say that your pet is nearing the end of his/her natural life,
expect the premiums to be higher.
The type of animal:
Because dogs and cats are the most popular pets worldwide, their coverages tend to be average.
Birds, oddly enough, tend to have slightly lower premiums. Horses weigh in at the high end.
In general, the more expensive the animal, the more expensive the premiums tend to be.
Thankfully, premiums tend not be based on breed - in the eyes of a pet insurance company,
a dog is pretty much a dog.
The Plan Selected:
Like most human health insurance, pet insurance plans become more costly as coverage benefits increase.
Check the fine print of the provider of your choice for pet insurance. And, as always, compare providers
to make sure you get the best deal. As with human health policies, pet insurance policies carry a deductible
(the amount you pay before the insurance benefit kicks in). Check with your provider regarding this.
The State the Pet Owner resides in:
Not every provider of pet insurance covers all 50 U.S. states. There are states in the U.S.
And then, there's California, where the insurance premiums tend to be significantly higher. Despite the higher
premiums, almost 25% of the pet insurance policies in force are for pets in the State of California.
HOW TO CHOOSE A POLICY
Is Pet Health Insurance a wise thing to buy? Veterinarians tend to like it because it will allow them to do more
for animals because the cost will not be as much of a factor. The tremendous advances in veterinary medicine
are little good if you can't afford them.
Here are some factors to consider when making decisions regarding your pet's health:
How old is your pet?
The best time to purchase a pet health insurance policy is when your pet is young.
Most pet health problems happen in the last two years of your pet's life. So, the younger your pet is, the better.
Is your breed prone to medical problems?
While policy premiums are generally not based on breed, certain hereditary conditions are excluded.
For instance, Dalmatian dogs are prone to congenital deafness. You can still buy pet insurance for your
Dalmatian; just don't be surprised if it fails to cover hearing-related issues (some pet insurance policies may
cover this, so check with your provider to make sure before you buy).
Is your pet already sick?
Most pet insurance providers won't cover pre-existing conditions. However, if you can prove your pet
had a condition that has been cured, that may be covered.
Can you choose your own veterinarian?
For many pet owners, vet choice is key, and for good reason. Some pet insurance companies require you
to use veterinarians on their own network. Others don't. As always, check with your provider regarding
your choice of a veterinarian.
What is your pet's lifestyle?
If your dog or cat spends most of his time outdoors, that will increase his/her risk of illness or injury.
What is covered?
Many pet owners purchase pet health insurance policies to protect themselves from the high cost of future
medical problems. Others want regular pet care such as annual physical exams and routine checkups and
cleanings. Just be advised that most standard pet insurance policies cover catastrophic accidents and illnesses. Routine vet visits tend to come as add-ons and/or riders.
What State do you Live In?
If you are searching on the internet for pet health insurance, you need to check this.
Just because a provider does business online doesn't mean it services your state.
Check The Insurance Company's Track Record
Every state in the U.S. has an insurance commissioner. If the insurance company you are considering has
had legal/ethical issues that should cause you concern, the insurance commissioner's office in your state or
province should know about it. Check with them before you buy.
We do not endorse any insurance companies.
We aim to educate you, the individual pet owner, about the benefits of pet insurance and knowing what
questions to ask before you buy.
