Why should anyone purchase pet insurance?  Well, why do people have health insurance?  The response for many is the same: You want to make sure you can cover your medical expenses should you become injured or sick.  Pet insurance helps cover unexpected costs associated with illness, accidents and even cancer.  Decision making for your pet is based on what is best for your pet and not on your wallet.  It can also cover the annual cost of an exam, vaccines, internal parasite testing, wellness bloodwork, the spay/neuter or annual dental, and flea and heartworm prevention if you add a wellness rider.  You choose your veterinarian.  As long as they are a licensed veterinarian, you're good to go...even in another country!

Pet insurance is not a new idea, but it is rather new to the United States.  The first pet to be insured was in 1890 in Sweden, and today, 50% of dogs in that country are covered.  Pet insurance began in the United Kingdom in 1947, and now 30% of UK dogs are covered.  Lastly, the first pet in the United States to be covered was in 1982.  Today only 1% of the canine population is covered.

This sounds too good to be true.  What is the cost?  The answer: it depends.  Some plans are less than $10 per month, while others can be as much as $100 or more per month.  Starting your pet on insurance at a young age yields the lowest premiums.  Some companies will not insure older pets.  Other decisions must be made:  Do you want catastrophic coverage for that unexpected accident?  What about cancer coverage?  Do you want coverage for annual check-ups?  With catastrophic and cancer coverage there is a deductible.  Some companies have a one-time deductible for an injury or illness for the life of that animal, while others have an annual deductible.  You can choose the deductible, and you can chose the rate at which you are reimbursed.  Some companies offer 80% reimbursement while another may offer 100% reimbursement.  The higher deductible and the lower the reimbursement results in a lower monthly premium.  Wellness visits with a wellness rider often are 100% reimbursed.  (Finally, an insurance model that rewards prevention!)

So there has to be a down side, right?  Well, yes.  Any pre-existing condition is excluded from coverage, and some companies may not offer coverage for your pet if it is serious enough.  This is why it is important to enroll your pet early in life.  Some problems are not covered (epilepsy in certain breeds, hip or elbow dysplasia, glaucoma in dogs less than 6, etc.).  Should your pet develop any of the non-covered conditions while on an insurance plan, companies like PetsBest and VPI will not terminate your policy.  Just pay your premiums on time and there should be no worries.

Imagine having your 8 year old Boxer developing a mass in her mouth.  You bring her to the veterinarian for an exam and find that she needs surgery to remove the mass.  The mass is sent off to a pathologist, and they determine it is an aggressive cancer.  Your girl needs radiation therapy in addition to injection treatments at The University of Georgia.  The total bill would be around $3000.  If you have 80% reimbursement, you would only have to pay $600 and you would be providing her with the very best.

The bottom line- having pet insurance for your pet will prevent you from having to make the decision to cut corners on diagnosing and treating your fuzzy friend.  It may very well prevent you from having to decide to put them down prematurely on the count of finances.  As with health insurance for humans, it's not for everyone, but it sure comes in handy when you have it and need it!

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