Pet Health Insurance – Is it Cost Effective?

The companionship we share with our pets is irreplaceable. As dog owners we treat our pets as if they are our children and at times they are given more attention the rest of the family. Owners have even built scale replicas of their house for their dogs including central air and forced air heat!

You have spoken their language using “doggie” talk, we know their moods, what they need as well as when they are not feeling quite well. When an emergency occurs, we rush to the vet in hopes of finding a cure so we can once again experience their unwavering loyalty and happy greetings.

Pet health insurance may seem like a new concept but it has actually been around for some time. In 1982, Veterinary Pet Insurance (VPI) wrote the first pet insurance policy to Lassie the famous TV star. Estimates for 2007 are 72 million dog owners and 82 million cat owners yet only 850,000 pet insurance policies were written that year. Since then the pet insurance industry has seen revenues increase by over 25% annually. There are accidents and illnesses we as pet owners cannot prevent and that is where pet health insurance comes in.

If you and your dog have ever experienced the cost of catastrophic care from an illness then you are aware of the expense associated with diagnostics, medication, and hospital stays. The cost of some dog health problems such as cancer, hip dysplasia and others can run in the thousands of dollars.

In today’s economy, people do not have the savings and disposable income they once had only a short time ago. There are many pet health insurance companies from which to choose the best program to fit your budget and pet health needs. All most every company covers routine wellness care such as semi-annual shots and vaccinations, however, the deductibles and out-of-pocket expenses are different.

Pet health insurance policies are not all that dissimilar from human health insurance. One difference is that you are not limited to a participating Veterinarian. As long as they are licensed most every carrier will cover your expenses in the US and Canada. ¬It is important to understand that paying for the pet health insurance will not cover all of your veterinary expenses. You still have to pay deductibles and co-pays, and you will have to limit how much your policy will pay out yearly, but it may not cost much more than you are already spending annually. In the event of a major emergency, however it could save you thousands.

Unfortunately, most carriers will not cover preexisting conditions and some will exclude certain breeds altogether. One company that does cover preexisting dog health problems is Embrace Pet Insurance. Most carriers will not accept a new policy if your dog is over the age of 8 years old. This does vary by state and country of origin so you will need to check.

Most pet insurance carriers cover older dogs and pets provided the policy is written and continues to renew prior to the age of 8 years old. On average, pet insurance policies cost are anywhere from $7.50 to $40 a month. Cats are a little more expensive to insure than birds and other exotic pets, while dogs are more expensive to insure than cats. It makes sense. The bigger the animal, the more it costs to insure.

Standing in the Veterinarian office, with the kids crying and everyone feeling upset about your dog’s health problem, can be a rather traumatic experience especially when the Vet tells you there is a treatment available. If you are the type of pet owner that would rather go into serious debt and pay almost anything for treatment then pet health insurance is for you. All too often the reason dogs and pets are euthanized is because of the cost for catastrophic care.

With so many choices of pet insurance carriers available today you are sure to find the policy that will fit your budget and pet health needs. Visit Pet Health Insurance Review for more details on carriers so that you can make an educated choice.

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