Pet Insurance

Photo from madmikesamerica.com

  

Pet insurance, while fairly new in the US, (1982 for Lassie), has really been around since 1924.  The first pet insurance policy was written for a dog in Sweden, (although there are rumors that Lansforsakrings Alliance wrote insurance for horses and livestock in 1890, we are unable to substantiate this claim).  Pet insurance expanded to Great Britain in 1947.  Today in the US pet insurance is growing in popularity.  Especially since it is estimated that people are spending approximately $13 billion on veterinary care.

The insurance originally offered to pets in the US only covered emergency care for injuries, accidents, or sudden illness.  Preventive medicine wasn’t covered until more recently.  Pet insurance is a form of property insurance, therefore owners are reimbursed after the expense has been paid and a claim submitted to the insurance company.

I’ve heard many different opinions of pet insurance.  Most of the folks that have it and have used it, rave about it.  They’ve saved a lot of money.  But of course there are those horror stories typical with any kind of insurance.  The key is to do your research and find a reputable company. 

 

 

Photo from www.hartvillegroup.com

 

So how do you determine if pet insurance is a good idea for you?  To best determine the type of plan that works for you, you must do research. 

 

 

What can you afford?  Your budget will always play a part in your decision.  Find out what types of plans are available and what your monthly cost will be?

The four most common types of coverage are:

Traditional – Standard insurance with predetermined options that cover illness, accidents and preventive care.

Customizable – Like standard, but offers more freedom in mixing and matching to design the plan.

Accident only – self-explanatory.  No coverage for illness or preventive care.

Discount – More of a discount plan on selected services provided than an insurance policy.

What is the age and health of your pet? Some plans may not accept older pets or cover pre-existing conditions.

What breed of pet do you have?  Based on your breed of pet, some issues may not be covered under insurance.  If a particular breed is known for certain congenital or hereditary condition, coverage may exclude that condition, charge a higher premium, or be denied all together.

 

Photo from policypointinsurance.com

 

What does your vet recommend?  Some vets work with insurance companies to offer discounted coverage to their patients.  I know Petfinder.com offers insurance to shelters who use their service for pet adoptions.  Check with your vet to see if they work with an insurance company.

Here is a site called Pet Insurance Review that offers review by customers on different insurance companies and the coverage they offer.  This is a good resource when researching which company is best for your pet needs. 

 

Photo from www.foxnews.com

 

Bottom line…I personally think Pet Insurance is a good thing.  When you look at what can happen to your pet and the costs involved it is a benefit worth the cost.  You may be one of the fortunate people that never have to use it, but if something does happen, it is nice to know it is there to help you defray the costs.

Be Well & Be Happy,

Pet~Pourri