Is Pet Health Insurance Right For You?
As we start a new year, many of our New Year’s resolutions include getting healthy: whether it’s loosing weight, start going to a doctor on a regular basis, or just eating better. So, why not focus on your dog’s health too? Running with this idea, this month is dedicated to dog’s health.
First up, some pros and cons of pet health insurance. Several carriers offer this now, and when you think about changing your insurance to cover you better, you might think about adding your pet. I found a helpful article in a recent edition of Pet Fancy, and thought I would summarize for you:
Some Pros and Cons of Pet Health Insurance
Pros:
- It can help with the cost of large vet bills
- People have peace of mind
- Owners are able to obtain appropriate care for their pets
- Vets can “go the extra mile” to increase the quality of life for a pet
- Insurance providers are improving their policies/coverage
Cons:
- The uncertainty if you will actually use it, and therefore wonder if it is worth the cost
- Different coverages and raising rates can be confusing for owners
- Some companies are better than others in what they cover for the costs
- Policies can be complicated
Weigh out your options, because only you can decide if pet insurance is right for you or not. Policies can range from $3-$76 per month (for a healthy dog), depending on the extent of your coverage, deductibles, and maximum coverage. And, of course, companies will offer a range of plans so you can get just what you feel you need or want.
Related: 6 Ways to Give Pet First Aid Without an Emergency Kit
Tips to Get the Right Insurance for You and Your Dog
- Read the fine print. You should anyway, but we’ll state it again ;-P Usually, pre-existing conditions aren’t covered, so this is incentive to buy a plan early before health issues develop. Also make sure the company will cover breed-specific, hereditary, and congenital conditions.
- Calculate deductibles, copays, and maximum amounts of coverage before signing on the dotted line.
- Make sure you know specifics about the deductibles. Are they annual, per visit, or per incident? And what about if your dog needs multiple visits for the same illness?
- Determine claim payments. Are they based on the vet bill, or does the company have its own benefit schedule of how much it will pay?
- Know the max. Does the policy limit coverage on an incident annually, or over your pet’s lifetime?
- Check accident and illness coverage. Does it cover accidents and illnesses, or just one or the other?
- Figure out and compare the cost versus the coverage.
- Learn what the coverage is for routine wellness visits, drugs, dental, and cancer treatments. Are they offered for an additional charge, or offered at all?
- Update your knowledge on premium protection. Does the premium increase as your dog ages?
- Ask about reimbursements. How do you get your money – do you pay the vet and then submit a bill, or does the vet take care of the billing?
- What is the difference between covering one or multiple pets? Do you get a reduced rate if you add on more animals?
Summarized from Dog Fancy Magazine
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