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It’s a pet owner’s worst nightmare: Your cherished pet is suffering in pain and you’re faced with the agonizing choice of facing huge veterinary bills you can’t afford or putting your pet to sleep.
Fortunately, more pet owners are learning that reasonably priced pet health insurance is readily available in the United States. This is especially good news since so many treatments that were once confined just to humans are now readily available to pets.
It is now possible, for example, for veterinarians to do hip replacement surgery, kidney transplants or surgery for bone cancer. (Dogs and cats are three times more likely than people to contract cancer, and 45 percent of dogs die from it, said Alejandra
Soto, spokeswoman for the non-profit Insurance Information Institute in New York.) These advances in veterinary medicine mean that pets can live longer, more rewarding lives. But they can be expensive and pet owners need to be prepared for the expense.
Few Pet Owners Have Insurance
Even so, not everyone knows about pet insurance with only 3 percent of America’s pet owners having enrolled their dog, cat, bird, rabbit, reptile or other exotic pet. “They don’t believe their pet will get sick. And, to those people, if a pet did get sick or ill and cost too much money, they would simply have it put to sleep,” said Dr. Jack Stephens, a veterinarian who founded Veterinary Pet Insurance with 750 independent veterinarians, America’s largest licensed pet health insurance company.
Like human medical insurance insurers of humans, pet insurance companies charge premiums and there are deductibles for the different policy plans offered. , and offer different levels of coverage depending on how much you pay. Routine veterinary check-ups may not be covered in the base plan but offered as an endorsement. There might also be exclusions for , and older animals, pre-existing conditions and breed-related problems may be excluded. Be sure to examine every policy closely to make sure that you understand what you are buying and call the pet insurance company with questions.
Key Issues to Consider
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The age of your pet. Premium costs rise as pets grow older and enter the years when they are more likely to suffer serious illness or injury.
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Levels of coverage. Pet health insurers offer basic policies and upgrades.
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What’s covered. Basic policies generally cover treatment for accidents, injuries and illnesses.
Beyond that, there are variations. For example, VPI’s basic policy also covers acupuncture and chiropractic treatments. However, VPI’s Vaccination & Routine Care Coverage endorsement includes spaying and neutering along with dental and other routine care treatments. |
