Pet Health Insurance: Is it Worth the Cost?
"To buy or not to buy. That is the question!" While it is highly unlikely that Hamlet asked this question about pet health insurance, it was one that rattled around in my brain for several years. Since most pet insurance programs don't cover pre-existing conditions, it seemed to me to be a waste of money, as many of our veterinary costs are due to Hubble's chronic illness.
On the other hand, my nagging thought was; what if one of our cats became seriously ill with a condition that was not pre-existing? I had to carefully consider costs of diagnosis and treatment which could mount substantially. Those unexpected factors became the deal maker and ultimately "sold me" on purchasing a health insurance policies for our cats.
Photo credit: www.pethealthcover.com
A lot of research went into the selection of the plans we have in order to get the biggest "bang" for our bucks. Our plans cover annual wellness exams, which include dental work, vaccinations, blood and urine tests, coverage for major illness (no pre-existing conditions, of course) and any necessary surgery. Fortunately we purchased these plans when our cats were seven years old. Obtaining health coverage for older pets can be very expensive.
There is a wide choice of coverage offered by most pet health insurance plans. Ranging from basic coverage, to plans that cover very comprehensive care, it is very important for buyers to carefully read what is included.
My strongest suggestion for folks considering health insurance policies for their pets are to enroll them when they are young and in excellent health. The cost of plans is very reasonable early on, with slight adjustments as pets age. Believe me; it is much more cost effective than purchasing a policy when a pet has reached middle age and may already have minor health issues.
Here are a few suggestions to help in selecting an appropriate policy:
1. The Internet is an excellent place to start a search. Begin your research by "Googling" Pet Health Insurance. Different levels of policy provided coverage are listed. Convenient online quotes are provided by most of the reputable companies. Determine if the provider pays a percentage of the bill or a fixed rate. Most policies cover accidents as well as illness, routine veterinary care and many require annual wellness exams, which may be completely covered, depending on the veterinarian's fee. Some policies even cover routine preventative dental cleanings.
2. Check if the cost of specialized care is included in the cost of the policy. A policy that covers cancer treatment will most likely be more expensive, but in the long run may save a lot of money. Ask about deductibles. Inquire about multi pet discounts as well. Some companies do cover pre-existing conditions, but the cost of these policies will be considerably higher.
3. Ask about age requirements as many companies will not insure older pets for health-related services, but only cover treatment for accidents. Many pet health insurance companies also cover exotic animals, such as birds, reptiles, rabbits, hamsters and other small mammals.
Since over six million dogs and cats are annually diagnosed with cancer, with today's innovative treatments available, care can become quite costly. According to an article on eHow about pet health care, "Veterinary costs have doubled in the past ten years. $12 million is spent on pet health care annually in the U.S., with over 80 percent of that amount paying for unexpected illness or accident."
What are your thoughts about Pet Health Insurance? Leave a comment and let's talk about it.
Recent Posts
Celebrating St. Patrick's Day with your Pets
WEEKLY CUDDLE CHAMPIONS: Monroe and Buckeye
Introducing Caplin: The World's Largest Rodent
Loyal Canine Rescues Drowning Kitty
Shakti: The Cat that Lived Up to her Name
"You're Fat": Vet Hits Me With Hard Truth
The Cat who Owns an R.V.: Luxurious Travel
Lazy Dog Owner Arrested for Walking His Dog
Petside: Get Started
-
- 2010 NCAA Mascot Tournament
Vote for your favorite pet mascots to determine the ultimate NCAA mascot champion!
-
- Find a Breed
Browse dog and cat breeds to find your perfect pal.
-
- Diagnose a Condition
Use PetVet to research what's ailing your pet.
-
- Locate a Hospital
- Find the nearest accredited animal hospital.
Specials
Check out these deals picked by petside.com just for you!
Comments (8)
Barb August 5, 2009 12:45 PM
I've looked into a few different companies but with the number of cats and dogs I have, 5 of each, the monthly premiums are out of reach. While most companies do offer discounts for multiple pets, it's not that much of a discount and is usually limited to one or two additional.
Amy August 5, 2009 2:28 PM
The same applies here. Having 7 cats and 3 dogs makes it impossible to afford. If I had maybe 1 or 2 pets then I would really conder having pet health insurance.
Vicki August 5, 2009 3:05 PM
I have looked into this on several occasions. But the cost of the insurance is expensive and does not cover everything. I have seven dogs, so the cost would not benefit me at all. I'm not sure it would even benefit owners with only one dog.
Rani August 5, 2009 3:58 PM
I have two cats and limited funds. I priced pet insurance a few years ago and it's very pricey, so no, it is not worth it for us.
jmuhj August 5, 2009 4:43 PM
Nine-cat family here!ranging in age from 4-15 years; so not practical. Preventive care is our priority -- an indoor-only lifestyle, with plenty of stimuli, a very good premium diet, fresh water from a fountain, grooming, love in abundance, and of course, spay/neuter to start us out right!
Vicki Y August 5, 2009 7:01 PM
I had my last dog on it because I'm not the type of person who can save large amounts in case of emergency and I typically only have one pet at a time. It works quite well for me. I was on Pets Best with my last dog and although I ended up paying more than I used it was still nice to have peace of mind. I did a lot of research on it (you can see some of it on the Furry Friends Rescue blog - www.furryfriendsrescue.org/blog).
My current dog is on Pet Plan and it saved me BIG TIME. He had to have two teeth extracted and the bill was $800 I only paid a little over $100. Although in the long run I may end up paying more in insurance premium, I like the peace of mind knowing if there's an emergency, cancer or anything weird that pops up I can take him.
I have him on holistic food, partial raw diet so he's pretty healthy most of the time, he's almost 3 now. He was a rescue, so came neutered and the only other out of pocket medical expenses I pay are his annual check-up fees and his shots when needed.
Reno August 6, 2009 10:15 PM
I like the insurance from VPI. As both a pet owner and a member of a veterinary staff, I like the idea of insurance. I also like Care Credit. It gives owners another option instead of euthanasia for very costly medical care.
Stacy August 11, 2009 12:19 PM
I have my dog insured as well. Being a recent college grad and sitting on loans, I really do not have a lot of extra money to pay for any kind of emergency. My dog is covered by Trupanion and found their policy to work best for me because I could choose my own deductible. I also like how they don't have limits.
add your comment