Most people want to provide the best health care available to all members of their family, including their pets. Sometimes treatment options can be too expensive and in lean economic times, tough choices have to made. This scenario leaves pet owners and veterinarians alike, feeling helpless. Pet insurance options can be beneficial all the way around, for the pet, because he or she receives proper health treatment, for the loving owners, because they can provide the care they want to provide, and for the veterinarian, because veterinarians want to help animals live a happy and healthy life.
One of the ways to help with the financial aspect of veterinary care is pet insurance. Pet insurance pays, partly or in total, for veterinary treatment of the insured person’s ill or injured pet. Some policies will pay out when the pet dies, or if it is lost or stolen. As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets’ health care and standard of living than previously, the market for pet insurance has increased.
Pet insurance companies are beginning to offer the pet owner more of an ability to customize their coverage by allowing them to choose their own level of deductible or co-insurance. This allows the pet owner to control their monthly premium and choose the level of coverage that suits them the best.
Some of the differences in insurance coverage are:
- Whether congenital and hereditary conditions (like hip dysplasia, heart defects, eye cataracts or diabetes) are covered;
- How the reimbursement is calculated (based on the actual vet bill, a benefit schedule or usual and customary rates);
- Whether the deductible is on a per-incident or an annual basis;
- Whether there are any limits or caps applied (per incident, per year, age or over the pet’s lifetime); and
- Whether there is an annual contract that determines anything diagnosed in the previous year of coverage is considered pre-existing the next year.
Please ask any of the staff if you have questions regarding pet insurance. If we can not provide you with an immediate answer we will find the answer for you as soon as possible. Remember, you will still need to perform your own due diligence. While we try to offer assistance and a helping hand, we are by no means experts. Here at Whitefield Animal Hospital, we suggest Trupanion Pet Insurance.