Should We Insure Our Pets?

We’ve all been there or know someone who has, the pet is sick and after surgery, rehabilitation and follow-up the bill is comparable to a year of college tuition. If the cost for pet care is so high, why don’t we all have pet health insurance for our pets?

If you are considering purchasing pet health insurance, it’s important to understand how traditional pet insurance differs from human health insurance. According to Veterinary Pet Insurance (VPI), currently the largest supplier of pet insurance, most base pet insurance plans are intended to help with the costs of accidents or illness, rather than wellness care, which can sometimes be purchased as an add-on. Human health care coverage typically provides preventive as well as emergency benefits.

With pet insurance, you normally pay the entire bill in full at the time of service, fill out your claim form and send the form off to the insurance company for reimbursement. Cost of a pet insurance policy typically runs about three to four hundred dollars per year. The price can fluctuate with the breed, age and current medical health of your pet.

Oftentimes, veterinarians can serve as references for particular insurance companies. Has your vet heard of the insurer, and do they recommend the insurance company’s services? It is also important to find out how long the company has been in business and how many pets they insure.

According to the American Veterinary Medical Association (AVMA), the two largest pet insurance companies together have more than half a million policies. Veterinary Pet Insurance of Brea, CA, had about 392,000 policies in the United States in 2005—up from about 195,000 policies in 2001. Pethealth Inc. of Oakville, Ontario, had about 153,000 policies in the United States and Canada in 2005—up from about 22,000 policies in 2001.

At three to four hundred dollars a year, it seems like good investment in your pet. Most of us do consider our pets as part of the family!

On a final note, check with your employer to see if they offer pet insurance through your company. Many companies are realizing this is a need in today’s society.

For more information on pet health insurance visit www.petinsurance.com, www.aspcapetinsurance.com or www.petcareinsurance.com