If you know the joy of pet ownership, you know cats and dogs can provide years of companionship and comfort. Of course, no one wants to see their pet injured or ill, but it does happen. When a visit to the vet becomes necessary, do you know how much it might set you back? Of course, the cost of medical treatment for animals is nowhere near the stratospheric level of human health care, but it still can sting you in the wallet.
According to data from Veterinary Pet Insurance (VPI) posted on www.consumerreports.org, the 10 most common claims last year were for relatively minor ailments–eye, ear, and skin infections; benign tumors; and digestive and urinary-tract ailments–and a handful of more serious problems. Costs for most of those averaged $100 to $200, but the highest bills for every type of illness ran from $600 to $4,400.
To ease any possible financial pain, some pet owners turn to pet insurance. But just as with human health insurance, you need to begin by asking some questions. Are there different deductibles? How about any co-pays? Does the coverage max out at any point? Do I pay up front and get reimbursed or does the vet bill the insurance company directly? Do I have to use a veterinarian in a network, or can I use any veterinarian?
Also, some animals have certain hereditary conditions and can be more susceptible to particular ailments. Will treatments associated with that be covered? Many policies won’t pay for elective procedures. Ask if the policy has renewable benefits — if your pet receives treatment for a covered condition during the policy term, some companies will consider it a pre-existing condition when the policy renews and will not cover the condition in the renewal policy.
Check with your insurance professional to see if pet insurance is something you ought to consider. He/she can help you weigh the positives and negatives and make an educated decision.