The deep emotional bond we share with our dogs and cats is one of life's most simple pleasures. In return for unconditional love, many pet owners do everything they can to ensure their dogs and cats have long, productive, and healthy lives.
Years ago, procedures like MRI's, specialized therapy, and laser surgery were unheard of for pets. Now, these procedures are increasingly common as veterinary science continues to advance.
Veterinary Care Inflation and the Effect on Your Wallet
The American Kennel Club reports that veterinary costs have risen 60% since 2000. This is not surprising, since numerous veterinary science breakthroughs have occured, and illnesses that had gone diagnosed in the past are now routinely treated.
Pet owners are grateful for these veterinary advances, yet the rising cost to care for our pets is an important factor to many.
Many times, unexpected veterinary expenses wreak havoc with the family budget. Our neighbor's German Shephard, a wonderful dog named Duke, began to suffer from hip dysplacia. Our neighbors got Duke treated and he's now happy and healthy again. The cost of Duke's treatment was $2100 - no drop in the bucket.
Should You Consider Pet Insurance?
Pet insurance is relatively new in the United States, but very common in Europe. Basically, pet insurance reduces the risk of caring for your dog or cat. Perhaps the most important factor with pet insurance is that it eliminates the difficult decision of choosing between your finances or letting your pet go untreated.
In a way, pet insurance companies are like health insurance companies. They may or may not cover certain health conditions, depending on the policy restrictions. Some pet insurance companies will not accept senior pets, similar to health and life insurance companies reluctance to cover senior citizens.
When considering pet insurance and whether it's right for you and your pet, ask yourself whether you're willing to devote a budgeted amount of time and money to care for your pet. You're a good candidate for pet insurance if your answer is yes. The sad reality is that some pet owners are forced to choose between their finances vs. treating their pets.
Pet Insurance Specifics
Most pet insurance plans offer coverage for as low as $10 per month. Typically, there is a $50 deductible, and an annual cap of about $10,000. Pet insurance plans for senior pets (normally 8 years and older) will run a bit more, normally $29.95 per month, but be aware that only one company we know of accepts senior pets for coverage. Costs for cats and dogs generally run the same.
All pet insurance plans offer coverage for accidents and illness, while some offer coverage for routine expenses like annual check ups and flea preventative. Sometimes, pet insurance companies that offer routine care coverage are set up with contracted veterinarians, similar to a PPO or HMO health care arrangement. For policies that cover unplanned illnesses and injuries, you can use the veterinarian of your choice, and these plans may also offer some discount element for routine veterinary services.
The Story Of Two Pets
One of my co-workers has two pets, a 6 year old cat and an 11 year old border collie mix. Early last year, his cat Whiskers was diagnosed with a respiratory illness, similar to asthma. Complicating matters, the border collie mix was found to have a small malignant tumor during a routine check up. Several months earlier, my co-worker had taken out pet insurance on both pets, roughly $10 per month for his cat and $30 monthly for his dog. After all was said and done, his cat's veterinary bills totalled $1600 and his dog's bill was almost the same, $1500.
He later told us he was reimbursed $1280 for Whiskers, and $900 for Diamond, accounting for a normal $50 deductible for an adult cat and a $200 senior dog deductible. Therefore, instead of an unplanned $2430 veterinary expense, his total cost was only $250.
Do Your Homework
There are a handful of pet insurers available to you. Do your homework and make sure the policy is right for you and your pet. For example, if you're comfortable budgeting for routine annual expenses like check ups, shots, and flea preventative, there's no need to pay a pet insurance company to cover routine expenses. Rather, look for a company that protects you from large, unplanned expenses.
If you determine pet insurance is right for you and your pet, here are some important factors to consider when choosing the right policy for you and your pet:
Look for guaranteed acceptance, whether your pet is a kitten or a puppy or a senior pet. Also, if you're comfortable with your vet, make sure the pet insurance policy gives you the freedom to go to any vet. Further, make sure your policy premium doesn't increase as your pet ages. Last but not least, look for unlimited accident coverage. Accidents can happen at any time, particularly to pets. - 15224
Years ago, procedures like MRI's, specialized therapy, and laser surgery were unheard of for pets. Now, these procedures are increasingly common as veterinary science continues to advance.
Veterinary Care Inflation and the Effect on Your Wallet
The American Kennel Club reports that veterinary costs have risen 60% since 2000. This is not surprising, since numerous veterinary science breakthroughs have occured, and illnesses that had gone diagnosed in the past are now routinely treated.
Pet owners are grateful for these veterinary advances, yet the rising cost to care for our pets is an important factor to many.
Many times, unexpected veterinary expenses wreak havoc with the family budget. Our neighbor's German Shephard, a wonderful dog named Duke, began to suffer from hip dysplacia. Our neighbors got Duke treated and he's now happy and healthy again. The cost of Duke's treatment was $2100 - no drop in the bucket.
Should You Consider Pet Insurance?
Pet insurance is relatively new in the United States, but very common in Europe. Basically, pet insurance reduces the risk of caring for your dog or cat. Perhaps the most important factor with pet insurance is that it eliminates the difficult decision of choosing between your finances or letting your pet go untreated.
In a way, pet insurance companies are like health insurance companies. They may or may not cover certain health conditions, depending on the policy restrictions. Some pet insurance companies will not accept senior pets, similar to health and life insurance companies reluctance to cover senior citizens.
When considering pet insurance and whether it's right for you and your pet, ask yourself whether you're willing to devote a budgeted amount of time and money to care for your pet. You're a good candidate for pet insurance if your answer is yes. The sad reality is that some pet owners are forced to choose between their finances vs. treating their pets.
Pet Insurance Specifics
Most pet insurance plans offer coverage for as low as $10 per month. Typically, there is a $50 deductible, and an annual cap of about $10,000. Pet insurance plans for senior pets (normally 8 years and older) will run a bit more, normally $29.95 per month, but be aware that only one company we know of accepts senior pets for coverage. Costs for cats and dogs generally run the same.
All pet insurance plans offer coverage for accidents and illness, while some offer coverage for routine expenses like annual check ups and flea preventative. Sometimes, pet insurance companies that offer routine care coverage are set up with contracted veterinarians, similar to a PPO or HMO health care arrangement. For policies that cover unplanned illnesses and injuries, you can use the veterinarian of your choice, and these plans may also offer some discount element for routine veterinary services.
The Story Of Two Pets
One of my co-workers has two pets, a 6 year old cat and an 11 year old border collie mix. Early last year, his cat Whiskers was diagnosed with a respiratory illness, similar to asthma. Complicating matters, the border collie mix was found to have a small malignant tumor during a routine check up. Several months earlier, my co-worker had taken out pet insurance on both pets, roughly $10 per month for his cat and $30 monthly for his dog. After all was said and done, his cat's veterinary bills totalled $1600 and his dog's bill was almost the same, $1500.
He later told us he was reimbursed $1280 for Whiskers, and $900 for Diamond, accounting for a normal $50 deductible for an adult cat and a $200 senior dog deductible. Therefore, instead of an unplanned $2430 veterinary expense, his total cost was only $250.
Do Your Homework
There are a handful of pet insurers available to you. Do your homework and make sure the policy is right for you and your pet. For example, if you're comfortable budgeting for routine annual expenses like check ups, shots, and flea preventative, there's no need to pay a pet insurance company to cover routine expenses. Rather, look for a company that protects you from large, unplanned expenses.
If you determine pet insurance is right for you and your pet, here are some important factors to consider when choosing the right policy for you and your pet:
Look for guaranteed acceptance, whether your pet is a kitten or a puppy or a senior pet. Also, if you're comfortable with your vet, make sure the pet insurance policy gives you the freedom to go to any vet. Further, make sure your policy premium doesn't increase as your pet ages. Last but not least, look for unlimited accident coverage. Accidents can happen at any time, particularly to pets. - 15224
About the Author:
When considering Pet Insurance, make sure it's good for you and your pet. Ask yourself if you're willing to devote a little time and money to care for your pet. If you answered yes, you're a good candidate for Pet Insurance .
