Pet Health Insurance

Should Your Dog be Insured?

Sep 12, 2007

Pros and cons of medical insurance programs for the family pet.

In a time when many people do not yet have health coverage, pet health insurance may still be a luxury for some. Yet most dog owners love their pets like members of the family and spoil them rotten with gourmet foods, the latest toys and doggy fashions and occasionally send them off to fun doggy resorts. It only follows that more dog owners are now buying health insurance plans for their pooches. An estimated 3% of dogs in the United States, a number that is growing annually, are insured. Several major employers now offer pet health insurance policies as an employee benefit.

Longer Lifespans and Better Canine MedicineDue to better care and advancements in veterinary medicine, our pets are living longer than ever before. Sophisticated diagnostic tools and tests, now available to veterinarians, detect illnesses that would have been overlooked not too many years ago. In addition, diagnosis of a serious illness no longer has to mean euthanasia when procedures such as radiation, open heart surgery, pacemaker implants, dialysis, and kidney transplants are available to animals. However, these treatments, which can prolong and improve your pet’s life, are usually out of financial reach for most pet owners. That’s where pet health insurance comes in.

What Pet Health Insurance Plans Offer

A number of companies offer various plans with deductibles and premiums. Some plans cover only illnesses and accidents while others are comprehensive, including vaccinations, preventatives, and routine exams as well. Depending on age, species, and breed of pet, lifestyle and where you live, any pre-existing conditions, and the coverage chosen, an average dog’s policy may cost around $25 to $30 a month. Few companies will insure dogs over 10 years of age. Veterinary Pet Insurance Company boasts being the nation’s oldest and largest provider of pet health insurance. PetCare Pet Insurance claims to be the number one choice of North American pet owners.

Dog owners considering a pet insurance policy should find out:

if the company allows a choice of veterinarians
the length of the waiting period
cost of premium including deductibles, co-pays, and caps for your particular pet
policy conditions and exclusions
claim time turn around
if the company is licensed in their state

Dog owners may also consider visiting ambest.com, a company that provides ratings, news and financial data for the insurance industry worldwide.

Is Pet Health Insurance Right for You?

Most dog owners count on paying out of pocket for routine medical care but the older the dog, the greater the chance of a serious and expensive illness.

Perhaps the main questions a dog owner should ask are:

What would I do in the event of a catastrophic accident or illness that could cost thousands of dollars to treat?
Would I put my dog to sleep or would I do everything I could to save my pet’s life?
Could I pay for expensive diagnostics and treatments?

Chances are that, over a lifetime, pet insurance premiums will add up to more than the claims but insurance is not about economics, it’s about peace of mind.