Pet Insurance

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 the pet 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 Tips:

People buy insurance of any kind to help them pay for large, unexpected or unplanned expenses for which they would have trouble paying for out-of-pocket.
There are a dozen companies offering policies in the United States and coverage has vastly improved.
If you are willing to spend $5,000 or $10,000, but you’re worried about how you would afford it, then you should at least look into purchasing pet insurance.

Surveys have been done asking pet owners how much they would spend to save their ill or injured pet. A large percentage of pet owners respond that they would be willing to spend “any amount” to save their pet. It has been my experience as a veterinarian, however, that when I present the cost of a diagnostic and treatment plan to pet owners, and it’s no longer a theoretical question on a survey – but reality, some aren’t so sure of the answer anymore.

Often, your veterinarian will want to refer serious emergencies or complicated surgeries or medical cases to a specialty or emergency hospital. Specialty and emergency hospitals (when needed) play an important role in providing quality healthcare for your pet, and can often be the difference between the successful or unsuccessful treatment of your pet. But because these hospitals often deal with life-threatening problems that need intensive care, the fees are usually higher than what you would pay at your regular veterinarian’s hospital.

I believe specialization in veterinary medicine will only increase in the future. Therefore, odds are that your veterinarian will refer your pet to an emergency or specialty hospital one or more times during your pet’s lifetime. This will usually involve a large and often unexpected veterinary bill.

So, if your pet were seriously sick or injured and required major surgery and/or an extended hospital stay, would you be willing to spend $5,000 or $10,000 if required? If your answer is yes, but you’re worried about how you would afford it, then you should at least look into purchasing pet insurance.