Why Consider Pet Insurance?
Over the last ten years, we have seen increasing popularity of pets carrying health insurance. We think this is an excellent evolution in animal health care, because veterinary care is expensive. Routine care like vaccinations, deworming, spay or neuter are enough to have to budget for. With pet insurance, if Fluffy falls or eats something harmful, the insurance policy kicks in and helps to avoid a tricky financial situation.
These days, pets often get better care than people do! That’s something we hear almost every day at our hospital, and in some cases it is probably true. If Fluffy tears one of the anterior cruciate ligaments in her knee, odds are we can have her into surgery in just days! This is often not the case in a human hospital.
But, as you know, that level of care can be expensive. Surgery for Fluffy alone may cost $4,500… and that’s not including an initial trip to an after-hours emergency facility to diagnose her.
Pet insurance is easy to sign up for, and monthly premiums can be affordable — not to mention the value of your own peace of mind. Here is a list of some important things to consider when looking for pet insurance:
- Is this company licensed in Ontario, and what policies are available in this province?
- How long have they been around? Does anyone you know use them and what kind of experiences have they had with them?
- Does this company have a plan with a reasonable deductible and co-pay? (There is no point signing up for a policy with a deductible so high it prohibits a claim!)
- What kind of coverage do I get and what happens when my pet gets older?
- Are conditions diagnosed within one year excluded as preexisting conditions the next year?
- Are there limits per incident, per year, per lifetime, or per body system? What are those limits?
- Is a physical exam required annually for renewal?
Pet medical insurance is for those who want to provide their pet the best medical care possible with less worry about cost. It helps provide financial peace of mind and can help pet owners with the difficult decision of treatment vs. ‘economic’ euthanasia.