Pet Health Insurance
In Europe, pet owners have been buying policies on their pets for over 25 years. Over 19% of pet owners in the United Kingdom carry insurance on their pets. In Sweden, over 48% of pets are covered. But, in the United States, less than one percent of pet owners purchase health insurance for their dogs and cats. "People simply aren't aware that policies are available for their pets. One of our biggest challenges is educating the public," W. Russell Smith, explained. A recent survey conducted by veterinary trade journal, DVM Magazine, discovered when faced with veterinary bills in excess of $576.00, American dog and cat owners begin to give serious thought to euthanasia. The American Veterinary Medical Association reports veterinary costs are climbing by at least 30 percent per year. "Money should never become an issue when a pet's life is at risk and saving that life is a possibility," Dunlap said. That's why Pet health insurance is here."
What To Look For in Pet Health Insurance
-
How long has the company been around: There have been many pet insurance companies in just the last few years. Even companies that were popular a year ago are out of business now. It is important to investigate the history of a pet insurance company, to make sure they will be around when you need them.
- Pre-existing Conditions: Pet insurance is designed and most cost effective for puppies and kittens. When enrolled at an early age, pet claims can not be denied because of "pre-existing conditions". There are policies that are designed for senior animals, but be careful, many of these will not cover pre-existing conditions, and in the senior pets many companies will try to claim that almost every problem or illness was pre-existing! Also beware of fine print that will not allow coverage of a illness because routine care was not done (ie An abscessed or fractured tooth repair is not covered because dentals were not performed every year).
-
Preventive Care Coverage: Many companies do not provide preventive care coverage and advertise that this is a budgetable expense and therefore does not need to be covered. Preventive care including annual exams, dentals, vaccines, fecals, routine blood work, and spay or neutering is extremely important to the health of your pet. If your pet insurance company does not cover these items, it is highly recommended that you set up a savings plan or set aside money to cover this health expenses so that your pet may live a longer and healthier life. In the first year of life preventive medicine can cost approximately $300! For adult pets routine preventive care can cost about $150 per year! And for Seniors the cost rises to $250 per year! And this does not include food, toys or flea control products!
- Accidents and Illnesses: This is the most common coverage provided by pet insurance company. These are the unexpected expenses that can lead to euthanasia if the money is not available. There are a variety of coverage plans with varying deductibles and yearly or per incident maximum amounts covered. Careful research can find the police that best suits your pets needs.
-
Veterinarians: Pet health insurance companies are not like HMO's and do not require that you see a specific vet, or get a referral for your pet.
Current Programs Offered In 2003
- Veterinary Pet Insurance - VPI This company has been around longer then any other US pet health insurance. They have accident and illness coverage in their policies, and a preventive care package can be added to a policy to cover the cost of vaccines, spay or neuter, and dentals. This is the only US company that provides coverage for non cat/dog pets, including exotic animals and birds!
- AKC Pet Health Care Plan: The only pet insurance currently available that provides extensive preventative medicine coverage if desired! The American Kennel Club is delighted with the announcement of the AKC Pet Healthcare Plan by Pet Partners, Inc. AKC Pet Healthcare Insurance, underwritten by State National Insurance Company, an A rated company by AM Best, features two comprehensive plans for fanciers and pet owners: the “Premier Plan” and “Premier Plus Plan”. The plan is available in all 50 states. The concept of pet healthcare is continuing to gain greater acceptance and attention among the general public.
- PetCo PetCare Insurance A variety of accident and illness policies available for dogs and cats. PetCo has been offering pet insurance for many years. Preventive care packages are not available at this time.
- PetCare Pet Insurance This is a newer company that provides extensive accident and illness coverage. Preventative medicine is not available with this company.