Are you thinking of getting pet health care insurance for your dog?
We all want to give our pets the best care possible. After all, they are members of our families too. And we all know that pet health care costs are rising dramatically - just like ours are.
But does it really make sense to purchase pet health care insurance?
Let's take a look....
What Are the Types of Insurance Available?
There are essentially four types of pet health care insurance coverage for dogs. These are:
1. Routine and wellness coverage. Coverage typically includes things such as annual checkups, flea and heartworm control, spaying and neutering, dental scaling and polishing, and vaccinations.
2. Illness and chronic condition coverage. This type of policy covers illnesses and common chronic conditions such as allergies, osteoarthritis, diabetes, thyroid problems, and Addison's disease. Continuing treatment of chronic conditions or long-term illnesses, such as cancer, beyond the first policy year when it occurred may have a reduced payout or may require a rider. Be sure to understand the coverage for chronic and long-term illnesses before signing up.
Coverage typically includes hospitalization, lab tests, diagnostic tests (x-ray, ultrasound, etc.), prescription drugs, non-elective surgery, dental services, and follow-up veterinary care related to the illness. Some policies also include euthanasia in case the dog does not survive.
3. Major medical coverage. This is the coverage used to protect against catastrophic events such as accidents and emergencies. Major medical usually has low monthly premiums and high deductibles.
The coverage includes essentially the same items as listed above for illness and chronic conditions, but would be limited to only those conditions resulting from the accident or emergency. Also, any conditions from the accident or emergency that carry into subsequent policy years may have a reduced payout or may require a rider.
4. Genetic condition coverage. This is one of the most expensive types of coverage and only a few companies offer it. However, some companies offer riders for specific conditions. The cost and coverage depend largely on the breed of dog.
There are hundreds of genetic conditions that affect dogs and some breeds are much more prone to them than others. If you are still searching for your pet, genetic conditions are something you should take into consideration when making your selection. It could save you a lot of heartache and a lot of money down the road.
Can I Customize My Coverage?
Most insurance companies can customize policies, combining elements from two or more of the general types of insurance. Riders are also usually available for specific elements of coverage not contained in the general policies.
When Should I Purchase Insurance For My Dog?
If you are planning to get health insurance for your dog, it is best to start when the dog is young. The premiums are lower then and you shouldn't have trouble getting coverage. Many companies won't issue new policies for older dogs because of their greater medical needs and if a dog already has an illness or genetic problem, it often will not be covered.