Protecting Your Pet & Pocketbook With Pet Insurance

One of the most crucial responsibilities of pet ownership is the financial liability you will face throughout that pet’s lifetime. Between the necessities of food, supplies, and routine medical care, it’s however the unforeseen emergency care visits to the vet that can hurt any pet owner’s pockets.

There is no doubt that a loved pet’s life is priceless. I, for one, have never thought twice when faced with a huge vet bill to keep any of my pets’ healthier, but most importantly, alive! However, I have seen owners fall financially in debt, especially when they own a chronically ill pet. Worst yet, its heart wrenching and sad, to both pet and owner, when they are forced to surrender the pet because they just could not afford the high expenses that are associated with the necessary medical care. Although no one can predict when you will face such an incident, you can, however, prepare and protect yourself should an emergency happen.

For decades, pet health insurance has existed but it is not until recent years that an insurance policy on our furry loved ones has become more common and part of the list of necessities of responsible pet ownership. With more and more pets becoming chronically ill due to minor aliments such as chronic allergies to genetic diseases due to poor breeding and/or unhealthy diets, it’s also the unforeseen accidents that makes you wish you had an existing health care policy on your pet should you not have one.

Getting health insurance on your pet is quite easy. Most pet insurance companies can quote you the monthly premium via online by just answering a few simple questions such as the age of your pet, breed type, what state you live in and whether your pet has been diagnosed with any major health issues in the last few months. The hard part is possibility getting rejected or paying an astronomical monthly insurance premium because you opted to get insurance on a pet that is routinely seeing a vet for a chronic and expensive medical issue already. This is why it is crucial to research and obtain pet insurance either when your pet is a puppy or a healthy adult before any unforeseen medical issues arise. Moreover, if you have purchased a registered AKC dog with papers, the American Kennel Club offers discounted insurance rates for their registered pets.

Now, it is a fact that certain breeds will have higher premiums based solely on the bloodline and the age of your pet when you try to obtain insurance. Boxers, for example, are known for acquiring certain types of cancers, even in their early years while short nosed, pushed in face breeds may experience chronic breathing problems when they start to mature as well. Most purebreds each have their own statistically known medical issues, so depending on the breed you have; pet insurance companies will base your premium solely on the type of dog and age of your pet. Good news is, if you have multiple pets, insurance companies will commonly offer discounted rates should you insure your other pets on a policy.

So, what are exactly the benefits of pet health insurance? Well, depending on the policy you choose, all companies offer basic routine vaccination plans to more elaborate, full protection policies that will cover your pet for almost anything. This usually includes emergency accidental treatments, spay/neuter, routine teeth cleanings and even chemotherapy treatments should your pet acquire cancer (which seems to be more frequent in pets now a days).

Here is a brief overview of pet health insurance….
- If you have been quoted a policy premium of $30 a month, over a year’s time, you will spend $360 for insurance. Tally up all the cost of your pet’s medical expenses for the past 12 months. Should you fall short of your yearly premium or even over it, the good news is, now matter what number you came up with, you will receive approximately 80% of all your medical costs back on each vet visit.

- Most pet health insurance companies will allow you to use any vet you wish as you will be up fronting all costs to the vet at the time of treatment. It is then your responsibility to submit a claim with your carrier after treatment.

- Most policies have a annual deductible which is $100-$125

- Reimbursements usually take 30-45 days; depending on the health insurance carrier. Also, policies can have maximum limits of $1500 - $13,000 yearly.

- Other commonly covered treatments include specialist visits, x-rays, CT Scans, MRI’s, prescription medications, hospitalization, and laboratory testing.

- Wellness plans usually cover heartworm testing and preventative treatments and flea and tick control.

Here is a complete list of other commonly known pet health insurance providers:
- VPI
- AKC
- Pets Best
- ASPCA Pet Insurance
- Embrace
- Pets Health Plan

There is no question that when having a pet health insurance policy, it’s not only a return investment back in your pockets, but your pet will be medically covered for each visit to the vet.