Pet Insurance

18 July, 2014

)  The application is relatively easy, you usually just enter your pet type (dog or cat), pet age, and your address.  The plans can vary by price but usually run $25 per month to $50 per month at the various pet insurance companies.  Obviously the more coverage you select the higher your monthly premium will be. 

Some things that can be covered are the following:

Routine or annual wellness visits and teeth cleanings.

Hospitalization and emergency care

Prescription medications

Boarding fees if you are hospitalized and you have no one to look after your pet.

Vacation cancellation fees if you pet suffers a life threatening illness or injury

Policies and what is covered vary widely by company and plan, so please read the details of your plan before you purchase a pet insurance plan.

As with most types of health insurance, pet insurance also has exclusions based on pre-existing conditions.  Cost can also vary due to the deductible you choose for you plan.  If you make a claim, you may find that most vets will not bill the insurance directly, you will have to pay and then submit the bill to the pet insurance company.  Usually this is a fairly simple process, so do not let this deter you from pet insurance if you are interested.

The big question is pet insurance worth the cost?  If you determine that pet insurance will probably cost on average $500 per year that should give you some basis to determine if it is worth it to you.  If you are a pet owner who finds themselves taking your dog to the vet quite regularly, then pet insurance may be something to consider.

The big bonus of pet insurance is having it if something major happens to you dog, such as the develop cancer or get a broken leg.  Treatment for major dog illnesses can run into the thousands.  However, most policies are capped at around $10K for maximum payout on a dog injury or event, so make sure you are aware of this figure.

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