Benefits of Pet Insurance

You love your pet, so naturally, you want to do anything you have to do to take care of them if they get hurt or sick. Few things are more terrible for a pet owner than having to decide between costly medical attention and losing their pet. 

Pet insurance takes a lot of the guesswork and anxiety out of taking care of your pet. But is it a better investment than a savings account? Here's what you need to know about the advantages and disadvantages of pet insurance. 

Does Your Dog Need Pet Insurance?

Pet insurance is a relatively new phenomenon, which leaves many pet owners wondering whether they really need it. There are a few reasons that pet insurance has skyrocketed in recent years:

Cost of Medical Care

The veterinary care available to your pet has advanced considerably in the last decade. Options are available now that weren't available before, which means that you have more expensive options at your disposal to help your beloved pet. 

Value of Preventative Care

Fifty years ago, it may not have been common for most people to pay for their dogs to have preventative care like dentals and regular exams, but most people today understand the value of prevention when it comes to caring for their pets. 

Preventative care like dentals throughout your dog's life will save them pain (and you costly expenses) down the road. Pet insurance can make this kind of preventative care much more affordable.

Type of Dog

Some dogs may be more prone to the kind of medical issues that insurance is helpful for than others. The smaller dogs that have become more popular as we have moved to a more urban and sedate lifestyle also tend to live longer and may suffer from more "old dog" diseases for longer periods. 

How to Choose Pet Insurance

Once you've decided that pet insurance is a good decision for your dog, you have a myriad of options to choose from. Here are a few things to consider when you are shopping for pet insurance:

Pre-Existing Conditions

If your dog is already suffering from chronic medical conditions, you may not be able to get coverage for expenses related to those conditions. Many insurance policies rule out pre-existing conditions, so it is best to get insurance while your dog is young and healthy. 

Some insurance policies also exclude diseases that are prevalent in a particular breed.  Look into insurance for the exact breed and individual dog that you need to insure.

Premium Increases

For many insurance companies, premiums increase as your dog gets older and medical costs become more likely to accrue. If your dog is already older but still healthy, you may be started out at a higher premium than with a younger dog. Do your research to make sure that the policy you choose will be affordable throughout your dog's lifetime.

Coverage

Some companies and policies limit benefits by visit, period, or over a lifetime. It can be very frustrating to find out that you have hit your limit when there’s still a long way to go in paying for your pet's medical bills. 

Policies with unlimited benefits may cost considerably more than those with limits. They may only pay off if your dog needs an expensive procedure, but if this happens, the capacity to do everything for your dog can be a life-changer. 

If you don't want to pay the highest premiums, but you still want help if your medical bills pile up, you can choose a plan that has no limit but a lower percentage of reimbursement. You won't pay as much for a plan that only covers 80% of your dog's medical bills, but this kind of plan can be a huge help if you have a sudden significant expense.

Exclusions

Aside from pre-existing or breed-specific conditions, many policies also have other conditions, diseases, or situations that are not covered. Some policies don't cover wellness care or require a separate policy for wellness coverage. 

This may not be a problem for you, especially if your veterinarian provides an affordable policy for wellness care, as many do. Some policies have limits on procedures that may be considered optional, like having the stomach tacked in dogs prone to bloat or enlarging the airway cavity of brachycephalic dogs.

Claims Process

If dealing with your pet's insurance company is a huge pain every time you go to the vet, you will wish you paid more for a different policy. Some insurance companies will work directly with your veterinarian. Other companies reimburse you. How quickly they reimburse you can make a big difference when you’re dealing with an expensive medical bill.

Best Pet Insurance Companies

The best insurance company for your dog may not be best for another dog. However, by looking at some of the most highly rated and recommended companies in the industry, you'll have a much better chance of choosing a policy that you love.

Healthy Paws Pet Insurance

Healthy Paws has been the number one customer-rated insurance plan for pets for the last decade. It has an easy-to-understand policy that customers, veterinarians, and technicians love. Healthy Paws will cover any new accident or illness that isn't a pre-existing condition. 

There are no maximums on payouts or caps on single incidents, annually, or over your pet's lifetime. Claims are usually processed in a couple of days. Healthy Paws is an excellent choice if you want a superb accident or illness coverage policy so you won't ever have to worry about choosing between your pet's health and a staggering veterinary bill.

ASPCA Pet Insurance

The ASPCA has been working for the welfare of animals for many years. They continue that pursuit with their pet health insurance by pairing with Crum & Forster Pet Insurance Group to offer ASPCA Pet Insurance. 

If you're looking for more comprehensive coverage that also covers preventatives, or if you want more flexibility in your plan, ASPCA Pet Insurance is a good choice. Preventative care coverage can be added onto accident only coverage to cover dental cleanings, screenings, vaccines, and more. 

The accident only coverage is for isolated instances of injury. There is also a complete coverage package that covers illness, accidents, behavioral issues, dental disease, hereditary conditions, and more. 

You can expect to pay higher rates for such thorough coverage, but if you don't want to have to worry about being hit with a vet bill and want the best preventative care covered, this kind of plan may appeal to you.

Choose the Best Pet Health Insurance for Your Family

If you want the best for your dog and don't want to have to maintain a savings account the size of a college fund to make sure they're covered, pet insurance is a very good idea. Most people will have to make some large expenses into their dog at some point, and preventative care can add up as well. Look into a couple of policies to choose the ideal plan for your pet.