Pet Insurance
I know that one of the more difficult things that you, as a pet owner, have to decide is whether or not you can afford to pursue the tests and treatments that I recommend as a veterinarian. I personally spend entirely more than I want to on my Logan‘s medications, food, and over-the-counter treatments, even at a discounted cost. I only wish that I had purchased pet insurance for her when she was a puppy. I do have pet insurance on Lancelot, my cat, and my parents’ German Shepherd Dog, which I obtained within a week of getting each of them.
Most of us treat our pet dogs and cats as members of our families, so we want the best of everything for them. This applies to medical care as well. With advances in veterinary medicine, we, as veterinarians, are often performing tests and procedures that are commonly used in human world. Although they are usually not close to half as expensive as they would be for you and me, they can still be quite costly for your pet. One way to offset these costs is to invest in pet health insurance.
Pricing varies
On average, you can expect to pay $40-70 per month per pet, with dogs being more expensive than cats. Price is determined by multiple factors: your pet’s species, breed, and age, as well as your annual (or per incident/disease) deductible, annual limit, and reimbursement percentage. Just as with human insurance, you can expect to pay more with a lower deductible and higher reimbursement percentage. Also, full breed dogs and cats often have higher premiums especially if they have a breed predisposition for multiple conditions.
You can save a lot of money
With most pet plans, you pay your veterinarian, then get reimbursed by the insurance company. Many accidental conditions, such as a cut that needs stitches or a bout of vomiting and diarrhea from that summer barbecue leftovers your dog got into, can be quite costly to treat, with bills ranging from $500-$2500 depending on wether your pet needs to be taken to the emergency clinic after-hours or spend some time on IVs in the hospital. Due to advances in oncology and internal medicine, we can offer cancer treatments for your pets. Through diagnosis and treatment, you can easily spend $10,000 or more on cancer therapy. If you have pet insurance, you don’t have to make treatment decisions based as heavily on your budget as you would without that help.
Insurance plans differ
There are different kinds of plans available for you to get for your pet. There are accident only plans, illness plans, wellness plans, and combinations of all three. Do your research and decide which will work best for your budget and give you peace of mind when you are faced with a costly procedure and testing for your furry companion.
The fine print
The most important thing to note is that pet insurance does not cover preexisting conditions, so it’s best to get your pets signed up while they’re still young and healthy. Also, some plans do not cover conditions that your pets may be predisposed to getting because of their breed. So if you’re getting a Golden Retriever puppy or a Persian kitty cat, you may want to make sure that any breed related conditions and diseases that they may get are going to be covered by your insurance. Ideally, you want to sign up for insurance right after your pet’s first veterinary visit, so that you know you have a healthy pup or kitten that will be covered for anything that crops up in the future.
Different plans
Although I do not recommend a specific insurance company, I have many clients that already have their pets signed up for pet insurance. Some companies that I see most often are Nationwide, Lemonade, Embrace, Trupanion, and Petplan. I encourage you to do your own research and choose the one that you feel will work best for you.
