A Brief Look at Dog Health InsurancePet health insurance, specifically dog health insurance, used to make people shake their heads as just another gimmick to get pet owners to part with their money. However, the increasing cost of health care for your four-legged family members continues to rise. So, should you invest in dog health insurance? Some things to think about: Pet insurance can cost anywhere from $2,000 to $6,000 over the lifetime of your pet. The chances of you spending that much in vet care for Fido, on average, are low. Unless your pet has some kind of serious medical disorder or has some serious mishap during his or her lifetime, you most likely will not spend that kind of money. Per Liz Pulliam Weston, a writer for Money, you would be better off putting money into a savings account. You could pull money from there when unexpected, high cost veterinary procedures are more than your checkbook can handle. However, one survey found that 73% of pet owners said they would be willing to go into debt to pay for needed medical care for their pet. If you are one of the 73%, dog health insurance from one of the many pet health insurance companies may a good idea. It's certainly a much better choice than going into debt! Other Pet Insurance Facts Veterinary Pet Insurance, one of the first of its kind, has approximately 85% of the pet insurance market and gross sales over $100 million. Pet health insurance is big business and is getting more popular with pet owners. Just like with YOUR health insurance, policies on your pets will have deductibles, co-pays and caps that limit how much will be paid out annually. Pre-existing health problems and hereditary conditions may be excluded from coverage. For example, dog health insurance policies for breeds known to be susceptible to things like hip dysplasia. You may be limited to which vet you can get care from. Just like some people plans, you may have to change to a vet who is part of a specific network. Make sure you check this before purchasing any policy. If you want to insure an older pet, you may have to pay more in premiums and some companies will not insure pets over the age of nine. Some pet insurance companies offer discounts if all your pets are insured with them. The Bottom Line Only YOU can make the decision if your pet should be covered by an insurance policy. Do your homework and review the different plans offered. You will find several offer specialized coverages (ex., covering all accidents and routine care, routine care only, accidents only, senior care) so finding one to fit your needs and budget is possible. Bobbie Sage, a writer who specializes on topics regarding insurance, wrote an article titled The Top 10 Questions to Ask When Buying Pet Insurance.
If you are considering dog health insurance, this is an excellent article to read.
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