Responsible pet owners want to be prepared for the costs of
veterinary emergencies, either with veterinary pet insurance, or with
savings set aside for that purpose. However, veterinary emergencies
often happen when least expected, and job loss, family illness, or
other financial crises sometimes come in tandem with those veterinary
emergencies. Pet health insurance, like other
forms of insurance, is a gamble. You're betting your pet will need it,
and the company is setting odds that it won't. There are a number of
factors to consider before purchasing pet insurance. You may in fact
decide against it, depending on your situation, and your willingness to
gamble.
Unlike human
health insurance, most pet insurance companies require you to pay the
entire veterinary bill at the time of service. You as the owner are
then responsible to send itemized bills or invoices from your
veterinarian to the pet insurance company for reimbursement of
qualified costs.
The best way to find the right pet insurance for you and your family
should start with researching some reputable pet insurance companies.
Ask for detailed plan information and price quotes.
Some basic plans start at $10.00 a month, while more
extravagant plans cost upward of $400.00 a month. Since no two pet
insurance plans are exactly the same, you should research each policy
before making a choice that best fits your needs.
The following
questions are important to keep in mind when determining if pet
insurance is worth the expense:
Look over several
plans from different companies before making a provider selection. Make
sure the plan you choose defines clearly what is and what is not
covered. For some pet owners, pet insurance is a safeguard for future
catastrophes, such as sudden accidents or the emergence of a serious
illness or cancer. For others, the coverage they choose applies to every vet
visit.
Fortunately
some companies offer a variety of plans, depending on the needs of your
pet. One company even provides a policy specifically for senior pets.
Another has a plan for accident coverage only. Riders are also
available for dental, extended cancer coverage, or preventative care
(vaccinations, etc.). You might be able to save on premium costs
through picking and choosing the plan that is right for your pet.
There is more
to picking insurance plans than finding out what is covered by
insurance. You need to also know what is not covered so you can compare
plans to one another and so you are prepared when your pet needs a test
or procedure that is not covered.
All
pet health insurance policies have exclusions. One of the most common
is the "pre-existing condition" which is defined loosely as injuries,
medical conditions and symptoms of concern that were evident prior to
enrollment in the insurance plan. In other words, you can't wait until
your pet gets sick and then apply for insurance hoping to cover your
expenses.
If you own a purebred animal, they may be prone to a breed specific
condition. For example, German Shepherd’s are likely to develop hip
dysplasia, and Labrador’s are often inflicted with eye problems. It is
important to understand if hereditary conditions or congenital
conditions (conditions present since birth) are covered by your plan.
Be sure to understand what you are expected to pay for and exactly how
much. You don't want to pick an insurance that covers little if
anything. Keep in mind most insurance companies will only reimburse a percentage of your actual veterinary bill cost.
What (if any) is the age limit for a pet to be covered?
The best time to purchase pet insurance is when your pet is just a
puppy. As pets get older they require more care, especially later in
their lives, and the premium can increase or coverage no
longer exists.
Pet insurance is best suited for pets that are young and healthy. Pet insurance is also a good investment if you:
Have multiple pets
Take in stray animal/foster animals
Breed dogs or cats
Travel and take your pet with you on vacation
Many dogs can live long, healthy, accident free lives today, but no
owner can
guarantee their canine companion will never have an accident such as
eating a sock, swallowing a rock, or even getting hit by a car in the
driveway. These are the situations where pet insurance can be very
helpful. Unfortunately, you have to decide if the benefit of the
insurance is worth the yearly expense.
Roslyn-Greenvale Veterinary Group does not endorse one particular insurance plan. Each and every insurance carrier has its pros and cons, and every pet owner needs to decide which carrier (if any) is the best one for them and their pets. We would be happy to provide you with answers to your questions and to discuss veterinary insurance with you at your next appointment. Please call 516-621-4010 to make that appointment today.
