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.
Just as health care technology has dramitically advanced, so has veterninary science. Illnesses previously untreatable even 10 years ago are now routinely resolved, thereby helping out pets live longer lives.
Costs of Veterinary Care Continue to Rise
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.
While veterinary medical advances extend our pet's quality of life, the financial impact for pet owners cannot be overlooked.
One of our neighbors recently incurred a $2100 veterinary bill to treat his German Shepard's hip dysplacia. Similarly, another friends cat developed a stubborn urinary tract infection, necessitating lengthy diagnostic and follow up treatment, to the tune of $1400.
How Pet Insurance Works
In Europe, pet insurance has been common for decades, but is relatively new to the United States and Canada. The main purpose of pet insurance is to reduce the financial risk of caring for your pet. Also, it eliminates the agonizing decision of having to choose between treating your pet's illness or injury vs. your finances.
Just like health insurance companies, pet insurance companies differ in what they offer and cover. Some pet insurance policies will only pay for pets below a certain age. Others have numerous deductibles and restrictions, depending on multiple factors.
Anyone considering pet insurance should ask themselves this question: "Will I devote a reasonable amount of time and money to treat and heal my pet?". If your answer is "yes", you're a good candidate for pet insurance. Sadly, many pet owners are forced to choose between finances and their pet's health. Worse, other pet owners view their pets as disposable, and simply won't treat the animal if it becomes too ill.
What Pet Insurance Plans Cover And Their Cost
Pet insurance plans cost basically the same for cats and dogs. Most start at $10 per month, with a nominal deductible, usually $50. Senior pets, if insurable, cost somewhat more, typically $25-$35 per month. At this time, we only know of one company that accepts senior pets, normally defined as age 8 and above.
Specifically, pet insurance covers illness and injury, although some plans do offer coverage or discounts for routine expenses like check ups, shots, etc. Most do not because it's easy to budget for routine expenses vs. unplanned incidents.
The Story Of Two Pets
Another of our neighbors is a pet owner to both a dog and cat. His cat, a 6 year old tabby named Whiskers, incurred a respiratory infection late last year, with veterinary bills totalling almost $1600. Earlier in the year, his 12 year old border collie mix, Diamond, was found to have a small malignant tumor during a routine physical. Fortunately, Diamond was able to be treated and recovered well, but the veterinary bills were large - $1500+.
Fortunately, pet insurance significantly reduced his out-of-pocket expense. Instead of incurring roughly $3100 in unplanned expenses, his total outlay to treat his pets amounted to $250 ... a $50 deductible for an adult cat and a $200 deductible for a senior dog.
Make Sure Pet Insurance Fits Your Pet's Needs - And Yours
There are several pet insurers in the marketplace, so do your homework and make sure your policy is right for your pet. If you feel comfortable budgeting for routine annual costs like check-ups, immunizations, flea preventative, etc. there's no need to pay for routine coverage.
As a pet owner, your experience tells you that most pets will incur some unexpected veterinary treatment in their lifetime, whether it's illness or accident. If you feel it's important to be prepared for these unexpected expenses, consider a pet insurance policy. Consider these factors when choosing:
The four most important factors to look for in a pet insurance policy are guaranteed acceptance, choice of veterinarian, fixed premiums, and unlimited accident coverage. You want your pet to be accepted into a pet insurance policy, no matter their age. If you have a comfort level with your veterinarian, you want to be able to use that vet and not be assigned an unfamiliar vet. Paying more in premium and deductibles as your pet ages isn't necessary, as there are pet insurance companies who will keep your premiums the same even as your pet ages. Finally, unlimited accident coverage is important, since accidents can happen at any time and with any frequency. - 16459
Just as health care technology has dramitically advanced, so has veterninary science. Illnesses previously untreatable even 10 years ago are now routinely resolved, thereby helping out pets live longer lives.
Costs of Veterinary Care Continue to Rise
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.
While veterinary medical advances extend our pet's quality of life, the financial impact for pet owners cannot be overlooked.
One of our neighbors recently incurred a $2100 veterinary bill to treat his German Shepard's hip dysplacia. Similarly, another friends cat developed a stubborn urinary tract infection, necessitating lengthy diagnostic and follow up treatment, to the tune of $1400.
How Pet Insurance Works
In Europe, pet insurance has been common for decades, but is relatively new to the United States and Canada. The main purpose of pet insurance is to reduce the financial risk of caring for your pet. Also, it eliminates the agonizing decision of having to choose between treating your pet's illness or injury vs. your finances.
Just like health insurance companies, pet insurance companies differ in what they offer and cover. Some pet insurance policies will only pay for pets below a certain age. Others have numerous deductibles and restrictions, depending on multiple factors.
Anyone considering pet insurance should ask themselves this question: "Will I devote a reasonable amount of time and money to treat and heal my pet?". If your answer is "yes", you're a good candidate for pet insurance. Sadly, many pet owners are forced to choose between finances and their pet's health. Worse, other pet owners view their pets as disposable, and simply won't treat the animal if it becomes too ill.
What Pet Insurance Plans Cover And Their Cost
Pet insurance plans cost basically the same for cats and dogs. Most start at $10 per month, with a nominal deductible, usually $50. Senior pets, if insurable, cost somewhat more, typically $25-$35 per month. At this time, we only know of one company that accepts senior pets, normally defined as age 8 and above.
Specifically, pet insurance covers illness and injury, although some plans do offer coverage or discounts for routine expenses like check ups, shots, etc. Most do not because it's easy to budget for routine expenses vs. unplanned incidents.
The Story Of Two Pets
Another of our neighbors is a pet owner to both a dog and cat. His cat, a 6 year old tabby named Whiskers, incurred a respiratory infection late last year, with veterinary bills totalling almost $1600. Earlier in the year, his 12 year old border collie mix, Diamond, was found to have a small malignant tumor during a routine physical. Fortunately, Diamond was able to be treated and recovered well, but the veterinary bills were large - $1500+.
Fortunately, pet insurance significantly reduced his out-of-pocket expense. Instead of incurring roughly $3100 in unplanned expenses, his total outlay to treat his pets amounted to $250 ... a $50 deductible for an adult cat and a $200 deductible for a senior dog.
Make Sure Pet Insurance Fits Your Pet's Needs - And Yours
There are several pet insurers in the marketplace, so do your homework and make sure your policy is right for your pet. If you feel comfortable budgeting for routine annual costs like check-ups, immunizations, flea preventative, etc. there's no need to pay for routine coverage.
As a pet owner, your experience tells you that most pets will incur some unexpected veterinary treatment in their lifetime, whether it's illness or accident. If you feel it's important to be prepared for these unexpected expenses, consider a pet insurance policy. Consider these factors when choosing:
The four most important factors to look for in a pet insurance policy are guaranteed acceptance, choice of veterinarian, fixed premiums, and unlimited accident coverage. You want your pet to be accepted into a pet insurance policy, no matter their age. If you have a comfort level with your veterinarian, you want to be able to use that vet and not be assigned an unfamiliar vet. Paying more in premium and deductibles as your pet ages isn't necessary, as there are pet insurance companies who will keep your premiums the same even as your pet ages. Finally, unlimited accident coverage is important, since accidents can happen at any time and with any frequency. - 16459
About the Author:
When looking at Pet Insurance, make sure it's right for you and your pet. Ask yourself if you're willing to devote a little time and money to care for your pet. If your answer is yes, you're a good candidate for Pet Insurance .
