Pet insurance is just like medical insurance for humans; offering coverage for accidents and serious illnesses and treatments such as cancer biopsies and radiation. Pet health insurance is very popular in Europe, however only about 1% of pet owners have purchased veterinary pet insurance in the United States.
The first thing animal owners must consider is how much money they would put into veterinary care for their sick pet. It's not uncommon to hear of a pet owner taking out a loan or re-mortgaging their home to save their pet's life. Nor is it uncommon to hear of a pet owner euthanizing their pet at the first sign of sickness and medical bills.
If you are the type of animal owner who would break the bank in order to save your pet, then pet medical insurance can save you money, while giving your pet the best medical attention available. If you would rather put your pet down than deal with outrageous vet medical costs than obtaining pet insurance will ensure your pet will be protected against unforeseen pet medical expenses while providing your pet with adequate care.
Each pet insurance company has its pros and cons and each animal health policy must be carefully examined down to the fine print.
Things to research from pet insurance companies:
- Pet care based on annual premiums and deductibles.
- Health care insurance policies on specifics of what the pet owner chooses.
- Many vet pet insurance companies offer comprehensive packages that cover annual checkups, vaccinations, spay/neuter, etc.
- Some pet insurance companies only cover accident and illness coverage.
- Pet health care insurers may offer reduced rates for additional pets.
- Pets are generally insured at 6 to 8 weeks of age, however limits differ by each insurance company.
- Animal insurance rates can differ depending on species, age, breed and pre-existing condition.
- Health insurance rates may depend on lifestyle (indoor/outdoor pet).
- Some pet insurance companies offer additional wellness coverage to cover exams and routine shots.
For more information on pet insurance and fees click on the links above to access some leading pet insurance providers.