Do You Love Your Pets?

Then Spend A Few Bucks and Insure Them!

 

Updated: April 17, 2003

 

The family pet(s): Little family members that deserve to be insured like any other "regular" family member.  If little Johnny or Suzie developed a serious medical condition, you'd never consider "giving him the needle" if the cost of medical treatment  wasn't in your budget or simply out of your reach.  So why not avoid re-living "Sophie's Choice" and explore the world of pet health insurance.  But first, some ground rules.

 

Like any other type of insurance, you'd better know what you're buying (or not buying) before you sign the line: Pet health insurance is no different than health insurance for humans.  Policies are filled with all sorts of potholes designed to get your money and lower the amount of dough the insurance company has to pay out in claims.  So know what's included and what's not before you buy.

 

Accept certain levels of risk and lower the cost: Again, just like other types of insurance (think automobile coverages now), if you accept more risk, such as a higher out of pocket/higher deductible, you're premiums will be lower.  [Duh!]

 

The older the pet, the higher the cost for coverage: Ever try to buy life insurance for someone in the 90s?  The same dollar-for-age-of-the-insured relationship goes for per health insurance.  Also: If you're trying to insure a breed that has certain genetic predispositions/certain health ailment tendencies, the premiums gonna be higher.  Think of owning a 1982 Jaguar and the amount of dough you'd spend on towing and mechanics fees.  Certain breeds are higher maintenance...you need to take this into [financial] consideration before you let your heart replace your brain and damage your wallet.

 

Here's a comprehensive list of things you need to consider before you buy: I've already touched on some of these...but this Top 10 List could save you a bunch of cash and heartache in the future, so take it seriously.

 

 

1.    Is the rate of the policy related to the age of my pet?

2.    Are preexisting conditions excluded?

3.    Does the policy cover the cost of routine care such as vaccinations?

4.    Does coverage include spaying or neutering?

5.    What specific disorders are excluded from coverage? Are cancer therapies covered? What about coverage for injuries sustained in an accident?

6.    Is there a requirement that your pet be kept inside at all times and, if taken out, only in a carrier?

7.    What is the deductible? Are there additional charges after the deductible is satisfied?

8.    Do you have to use specific veterinarians or clinics or can you choose the provider of your choice?

9.    Who has the final say about whether or not a procedure is necessary or will be covered?

10.  Buy the level of coverage you really need: Ask yourself if you're likely to use that $14,000 annual limit a company highlights.

 

Where do you find pet health care insurance?  The same place I'd start looking...on the Internet.  Click here for a list of companies that offer this financial service product and, like any other type of financial expenditure, make sure the company you're buying from is credible and in good standing with the appropriate licensing authorities. 

 

Does your neighbor have a pet that's obnoxious?  Instead of treating the neighbor's barking dog to a nice "filet of antifreeze" read my popular column on this topic and learn how to (legally try to) silence barking dogs, first.

What do you mean you don't have a pet?  We can change that easy enough with a quick visit to Operation Kindness [for North Texas residents, anyway].  They're a nonprofit animal-welfare organization that cares for homeless or unwanted cats and dogs in a no-kill environment, caring for all the animals they take in until they're adopted.  Read more about them here...or better yet, go adopt a new companion...or make a donation and help out the good guys.