I never considered getting pet insurance until a friend told me about her dog going in for fairly routine surgery and between complications and bad luck, wound up shelling out thousands of dollars.
I guess you could say that was my wake-up call.
She is now a believer — and it got me looking into pet insurance as well.
This is purely a personal decision. But if it’s something you’ve been toying with, make sure you go into it doing your homework and knowing what questions to ask.
I will tell you upfront that I just switched to a difference insurance carrier, letting my dog’s insurance (the first policy I’d ever bought for any of my pets) expire.
A year ago, I didn’t do a whole lot of digging, and I ended up going with a big name company I’d heard of. There was nothing wrong with the company or my dog’s policy. But this time around, I did a little more research and found one that I think will better suit both of our needs.
Whole Dog Journal recently ran an excellent article on pet insurance, discussing different types of coverage, and comparing 10 companies with regard to prescription coverage, enrollment age limits, reimbursement methods, etc.
Here’s a quick look at some of the points mentioned in the article:
- Out of more than 1,000 pet parents, fewer than 50% said they’d pay more than $1,000 toward veterinary care to save their pet’s life. (Would you?)
- Some plans offer extra coverage for wellness visits. (Figure out what you pay annually for your pet’s regular check-ups. For me, adding this rider wasn’t worth it.)
- Check carefully to see what is — and what isn’t — covered. (My dog had knee surgery a few years ago. Although that issue has been totally resolved, insurance companies consider the injury of any of her knees as a preexisting condition, and it won’t be covered.)
- Most companies pay anywhere from 70% to 90% of the eligible expenses when you file a claim. You pay the rest.
- There are three basic methods of reimbursement for covered expenses: benefits schedule, usual and customary charges, and actual veterinary bill. Learn what these are and what works best for you.
- The older the dog, the higher the monthly premium.
- It’s probably best to choose a policy that covers illness, accident and prescriptions.
Getting insurance is always about playing the odds.
Never had a pet get chronically ill or require major surgery? That’s great — and I certainly hope my dog spends her remaining years out of the veterinary hospital.
But if something does happen … well, all I can say is I felt a whole lot better the day I signed up for pet insurance, and I got the email telling me, “Congratulations! Your pet is enrolled!”
Now all I can hope is that I never need to use it.
What has your experience been with pet insurance? Let us know in the comments section below.
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