You love them like children. You tend to their every need and want. You pamper them. They bring you joy and happiness every single day. Any of this sound familiar? Of course it does when it comes to your pets! But do you have pet insurance to offset the rising costs of veterinary care?
If not, then grab a cup of coffee or your favorite beverage and enjoy this article that spells out what pet insurance is, why you and your pet will benefit from it and what to look for when you start shopping for the best possible coverage.
But Why Do I Need Pet Insurance?
The simple answer to that is the peace of mind knowing that you can handle unexpected vet bills without the need to use high interest credit cards or savings.
Take a look at these examples of how expensive some procedures can be....
1) Treating a broken leg average costs well over $2,000
2) Surgical removal of foreign objects like rocks or toy squeakers average costs - $800 to $1500 dollars. This takes into consideration follow up and medications.
3) Treatment of chronic conditions such as arthritis or diabetes average yearly costs = $1,200
Kind of opens your eyes just a little bit doesn't it?
Just like us humans, pets are now starting to live longer. This means having to care for them as they get older and become more at risk for health problems.
Let’s take a look at some more startling information that might have you looking at pet insurance in a much different light. Granted, this isn't meant to scare you into running out and buying the first pet insurance plan that you come across. OK?
Did you know that cancer is the number 1 cause of death in dogs that over 2 years old?
And most likely you will also know that almost 60% of dogs that are over the age of 6, will develop some type of cancer. Are you prepared for that? Sure you might even be saying “that wont happen to my pet...” but the sad fact is that the odds aren't in your favor.
After you finishing reading that statement, go hug your dog and if you have more than one, hug them all.
But When Should I Seek Out Pet Insurance?
If at all possible, when you first bring home your new family member! Many pet insurance plans will start coverage from the age of 7 weeks. A good rule of thumb is the younger the better.
It’s important to insure your pet when it’s still healthy, because the majority of pet insurance plans don’t cover pre-existing conditions. Symptoms of some diseases, like kidney failure, take months or years to appear. Insuring your pets at a young age helps guarantee that the majority of your pet's illnesses will be covered.
But don't think that just because you have a more mature pet that pet insurance is out of the question. It’s not! You just may have to shop around a bit.
But What Should I Look for in a Pet Insurance Provider?
Just like you shop around for many different types of insurance that you already have, pet insurance is no different. But let’s take a look at some basic questions that you should get answered before deciding on any plan.
1. Will I be able to keep seeing my current veterinarian?
2. You've already developed a relationship with your vet. You're comfortable in the care they provide and how they interact with your pet. Be sure that you won’t have to change. Also be sure to inquire about emergency care providers and how the policy will cover that.
3. Is the coverage easy to understand?
Know what is covered beforehand. Many pet insurance companies will have a published benefit schedule that will explain this. Be sure that you understand any limitations that the policy contains. Be sure to find out if the coverage has any reimbursement limits. In other words, does your coverage remain in place irregardless of the amount of claims that you file.
1. Does the pet insurance provider take into consideration chronic or recurring conditions?
2. You already know that some breeds are more prone to certain health conditions. Be sure that the insurance provider covers these. Since most companies won't cover a condition that already exists, be sure to insure your pet in the early stages of their lives.
3. How does the insurance company determine its premiums?
4. Make sure that the pet insurance provider does not charge according to breed. You will find that some companies will actually make you pay a surcharge because you own a certain breed. Make sure that the company that you choose determines the premium based on your pets age.
You now have a pretty good understanding of what you should be looking for when you start your hunt for pet insurance. And you probably have even have more questions in your mind regarding coverage that may not have been covered here. Jot them down, because now it's time to do a bit of shopping.
But Where Is The Best Place To Look For Pet Insurance?
The simplest answer is your vet. He or she is probably already dealing with insurance providers on a daily basis. The will have first hand knowledge on how the companies handle claims and reimbursements. You can be sure that if you have any type of relationship with the staff, they'll tell you exactly what pet insurance companies are easy to deal with.
Another excellent source to gather information is from friends or family members that also have pets. Ask around. A referral from a friend or family member can save you countless hours talking to insurance representatives.
Also use online search if you have access to a computer. Since the marketplace is extremely competitive for pet insurance, a majority of insurance providers will now offer you free quotes on coverage. Take advantage of this to get a handful of quotes so that you can compare plans side by side.
One last thought. Don't put it off. Don't let your busy lifestyle get in the way. In many instances pet insurance boils down to pocket change a day to provide coverage for your pets. After all, don't you think that your pet deserves it?