Everything You Need to Know About Pet Insurance
What is pet insurance?
Pet insurance is much like the insurance we have for ourselves. It pays for illness and injury. It does not typically cover preventative care on the human side, and rarely does it on the animal side. Some companies can add it into the policy for an additional charge, but most of the time, vaccinations, annual blood work, dental cleanings, spays, and neuters, which are necessary for the year to keep your pet healthy, are not part of insurance. Insurance is for illnesses, surgeries, and workups for pets with underlying diseases, that kind of thing.
Is pet insurance worth it for my pet?
Yes. Nowadays, the cost of care for pets has increased dramatically, and it can be quite expensive for pet owners. An example is if your pet tears its ACL and needs surgery, the minimum cost is $2,000 to $3,000. Some procedures cost upwards of $5,000 to $7,000 at a specialist. If your dog has a back injury and needs surgery, the minimum is $9,000 to $10,000. Most people don't have that amount readily available to spend on their pet, so insurance can be well worth it in situations like that.
How much does pet insurance cost, and what are the factors affecting the price?
It can cost anywhere from around $20 a month up to hundreds of dollars a month, depending on the age of the pet when you sign up, any underlying pre-existing conditions, or the breed. Signing up your dog or cat is best when you first get them at 6 to 8 weeks of age.
After that, as long as they're healthy, it will still remain low, but after six months to a year of age, the cost can increase. Especially for older pets, it can be more expensive because they are more prone to injury, illness, and disease, which increases the likelihood of a claim. Certain breeds might be more expensive than others.
For example, English bulldogs, French bulldogs, and German shepherds might be more expensive than a stray dog with unknown breeds because these dogs are known for having certain disease processes or injuries that are more likely to require coverage.
What does pet insurance cover? Are there different types of coverage?
It typically covers injury and illness. Rarely do they cover preventative care, such as vaccinations, fecal checks, dewormings, and heartworm tests. Some policies include dental cleanings, but most do not.
How does pet insurance differ from health insurance for humans?
In human healthcare, you provide your insurance card to the doctor, and insurance handles things through the doctor's office. We do not bill insurance or file for insurance. You pay the veterinarian directly, and then you send the paperwork to your insurance company, which will settle with you through a check or some other payment method, depending on your arrangement with them. This is true for 99% of veterinary facilities.
Some insurance policies are now linking into our systems because every veterinarian has their own management system. There are several common ones, but unlike human healthcare, we're not all the same. Trupanion can link in and quickly determine what they will and won't cover. I'm sure other companies do this or are looking into it. We accept Trupanion here, and it can make the process easier and more seamless for you since they link into our system.
What are the best insurance options for dogs and cats?
There are many different companies out there. Trupanion is one that we support and like. Another one is Pumpkin. There are many different companies available, so you need to do your research. Look at the fine print to see what they cover, what they don't cover, exclusions, pre-existing conditions, and other details. Compare apples to apples when looking at these policies.
Can you compare insurance companies?
Absolutely. Go online, look at the policies, print off the information, and then review them individually. There might be websites or companies that compare options across the board on one screen, but I'm not sure if they exist. If not, just print it off and lay out the pieces of paper to compare each one and see which one fits your budget and needs for your pet.
What are the benefits of dog health insurance and how does it help with veterinary care?
When a dog has an illness or a situation requiring care that can cost thousands of dollars, insurance can save you substantial amounts of money. For instance, we had a pet here a couple of weeks ago that ate a bunch of oatmeal raisin cookies. The owner had pet insurance and was able to take the pet to the ER in Denver. The pet vomited up 87 raisins, which was well over the toxic limit for the dog. Without health insurance, it would have been very expensive, or they might not have been able to treat the pet, and that amount of raisins would have unfortunately been fatal.
By having insurance, they were able to get their pet treated and take their pet home, and she's doing well. Another example is French bulldogs, which are prone to back injuries and disc issues. Many times, they need surgery, which starts at $9,000 to $10,000. Many people without insurance can't afford that, and unfortunately, the pet might have to be put to sleep due to a life-altering injury that they can't live with. Insurance can help in unforeseen situations like these.
How do pre-existing conditions affect insurance coverage?
If your pet has a pre-existing condition, it most likely will not be covered on the policy. For example, if your dog has a known back issue, they won't cover back-related issues. If your dog broke its leg, they won't cover anything related to that leg in the future, such as arthritis or additional surgeries.
What are the differences between pet insurance for dogs and for cats?
Dog insurance typically covers dog-specific issues, and cat insurance covers cat-specific issues. Generally, dog insurance is more expensive than cat insurance because dogs tend to have more issues than cats, but the coverage is species-specific.
What should pet owners look for in pet insurance reviews before choosing a plan?
Do your research. Don't rely solely on the website for the insurance policy, as they will only post positive information. Ask around. Consult your veterinarian and friends. Look at reputable websites that review insurance companies and policies and provide honest feedback.
Are there any free or low-cost pet insurance options available?
At this time, I'm not aware of any. I'm sure some exist, but typically, what you pay for is what you get. Lower-cost options may not pay out very well or cover the full amount. The more you pay, the more likely the insurance company will cover services for your pets and provide the maximum benefit.
At Catawba Heights Animal Hospital, your pet's health is our priority. If you have any questions, don't hesitate to call our team at (704) 827-0616, or you can email us at [email protected]. Our staff would love to talk with you!