In a perfect world, our pets would be immune to all illnesses and disasters. Unfortunately, the world isn’t perfect and our beloved pets are prone to diseases and accidents that can happen in the blink of an eye. One thing is for certain: treatment will be costly.
There is at least some good news. Although veterinary costs keep rising at a fast pace, financial aid is available through pet insurance. Policies can be found for dogs, cats, birds and exotic pets.
As veterinary science advances, so do pet treatments. A few years ago it was almost unheard of that a pet would receive chemotherapy, MRI’s or transplants. Today, it is not at all unusual. As with humans, many pet treatments can easily reach thousands of dollars. Without pet insurance, many pet owners find they cannot afford lifesaving treatments.
While the idea of pet insurance may come as a relief, those looking to purchase it should shop with caution. Many veterinarians are willing to make insurance company recommendations for their patients.
The concept of pet insurance is very similar to that of insurance for people. The buyer will have annual premiums and deductibles. Most pet insurance companies offer a choice of plans.
When shopping for pet insurance, be sure to ask if older pets are covered. Is your breed of dog accepted for coverage? (Not all companies insure all breeds). Beware of clauses concerning pre-existing conditions. Read the policy terms thoroughly and make sure you understand what you are purchasing before signing on the dotted line.
If you have more than one pet, check to see if the insurance company offers discounts for insuring more than one pet.
Although pet health insurance seems compatible to human health insurance, it really is a different entity. Pet insurance works more like property insurance. In most cases, the pet owner will pay the bill and then submit it for reimbursement.
In the past, most pet insurance policies did not cover routine preventative care such as vaccinations. They also did not cover elective surgeries such as spaying or neutering. Today, companies are offering those options and options for dental care and procedures such as acupuncture, but expect to pay for them. There is no free ride when it comes to pet insurance.
Some companies insure pets against loss of life. Obviously, you can expect such a policy to be more expensive than one that covers basic medical care.
Most insurance companies offer either non-lifetime or lifetime policies. With a non-lifetime policy, the pet is covered for most conditions during the first year. However, if treated for a problem, the pet will not be covered for that same problem again and the owner can expect to pay all expenses out-of-pocket.
A lifetime policy covers a pet for ongoing conditions throughout their lifetime.
There are numerous companies that offer pet insurance for dogs, cats, birds and exotic pets. The Internet is a good source of information on pet insurance and companies.
Just remember – buyer, beware! Read the policy before signing. Ask questions. Make sure you understand the terms before buying.
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