To Be or Not to Be…
August 27, 2010 Leave a Comment
Insured! That is the question. It’s not a new idea. It is however only recently gaining popularity in the United States. Many pet owners wonder whether or not to sign up for pet insurance. We ask ourselves to weigh the pros and cons of paying a monthly premium against paying the full cost of wellness visits,
vaccinations, monthly heartworm and flea and tick prevention, and also the possibility of unforeseen illness/injury. In the end, we have a throbbing headache, and are even more confused than ever. How does one decide?
Veterinary medicine is one of the few health care professions not financially based on insurance. The pet owners are always responsible for the veterinary costs incurred at the time of visit. The pet insurance company will then reimburse the pet owner with a portion of the costs sustained. Proof of visit (your bill), and diagnosis is
usually required, and then depending on the plan you have chosen, the visit may … or may not be covered. Like human insurance … there are annual or monthly premiums, and you may have a deductible depending on the level of coverage you have chosen. The various plans available can be based on the following, or any combination thereof : species, age, pre-existing conditions, congenital disorders and in some cases, lifestyle of the pet (i.e. indoor vs. outdoor cat). Some packages are comprehensive, including such things as annual checkups and
vaccinations, preventive medications (like Heartworm preventive) and spay/neuter surgeries. If this is a type of plan you are interested in, insuring your pet as early as 6-8 weeks old is highly recommended. Other plans cover only accident and illness. Most plans offer immediate coverage for accident claims, and 30 days for illness claims on new policies. Additional pets are usually covered at a reduced rate after the first policy-holding pet. Insurance policies (in most cases) start as early as 6-8 weeks of age, and again most do have an age limit. Until recently, the availability of certain plans has also been limited in the past depending on your location, and policy
restrictions are prohibitive in most cases.
The bottom line is … how will your pets’ life’s journey affect your bottom line? What are your needs as a pet owner? Do you need help paying for routine care? Do you need insurance against the unexpected? We urge you to do your homework. If you do end up choosing to buy pet health insurance, make sure it fits not only the needs of your pet, but your own needs as well.
References:
Should you buy pet insurance?
Health Insurance & Wellness Plans for Animals
Trupanion Pet Insurance vs. The Competition
The Latest In Pet Insurance
