Gone are the days that you could take your sick puppy to the veterinarian and spend a quick $40 to get your little buddy tended to. Just like gas prices and everything else, veterinarian prices are higher, which means it is becoming more difficult for people to pay for their vet visits. This is especially true because the veterinarian field has moved beyond just giving shots for rabies and neutering your boy pets. Now there are pet oncologists, dentists, ophthalmologists and even dieticians (blame it on Hollywood people!). So now there is even more of a reason to increase costs. With the need to increase costs often comes the need for financial assistance, so much like the assistance you receive through medical insurance, many institutions are now offering pet insurance and more pet information
What is Pet Insurance?
Pet insurance was created as a way to offset the rising costs of veterinary visits. Instead of having to come up with large amounts per visit, or come up with some type of payment plan, you can instead pay a premium, similar to health insurance, and then only have to pay a small fee each visit.
Think about it, suppose your beloved golden retriever Barky has become injured when his leg fell into a pothole while running after a Frisbee. In the past, it would have been necessary to permanently put him out of his misery, but now Barky is able to have surgery to survive. However, the surgery could run into the thousands and who can afford that in this day and age? Instead of having to consider putting Barky to sleep, you might be able to take advantage of a dog insurance policy that covers surgeries. This way you wont have to lose your friend or all of your money.
Coverage Basics
Every insurance plan is going to be different, meaning you have to make sure to read the big and fine print to make sure that youre getting everything that you would hope to get out of paying the premium. And example of what might be covered in your premium is an annual physical exam, most vaccinations, heart worm detection and treatment, spay and neutering procedures, medicine for fleas, teeth cleaning and a comprehensive health screening. In addition, you might have surgeries covered up to a certain dollar amount, as well as de-worming procedures.
But again, it is a good idea to make a list of the pet bills you have had to cover on your own at the veterinarian, then decide what and how much you would like to have covered in your insurance. That way, when you do your search for the premium that is best for you, you will be more alert to what you think is missing so that comparing prices and plans will be much easier.
Costs
Luckily, the cost of pet insurance is usually very reasonable. By conducting my own research to look at premium rates from a few of the more popular companies, it seems as though the cost for one month of coverage is around the same as the cost of health insurance coverage for one pay period for a human, depending on who you cover in your insurance. One company in particular that seems to pretty really popular among veterinarians is VPI.
VPI is said to be recommended by nine out of ten veterinarians and has paid out more than $300 million in claims. They have licensed veterinarians and technicians on staff and are licensed in all 50 states. For cats and dogs they offer comprehensive pet insurance in two different plan options: VPI Superior or VPI Standard. There are different types of veterinary insurance available if you do some research.
The VPI Superior plan covers everything from ear infections, allergies, epilepsy, fractures, frostbite, lyme disease, near drowning, poisonings, pneumonia, tumors, kidney transplants, diabetes, asthma, and even acne yes I said acne! They also reimburse for prescriptions, hospitalization, office visits and surgeries. Theyre cost per month starts at $23 for dogs and $16 for cats.
The VPI Standard plan covers much of the same afflictions as the Superior plan, however the differences in what you are charged and reimbursed lies in the maximum benefit allowance for each plan, which of course is less for the standard plan; but you pay less (as low as $13 for dogs and $9 for cats), so you it is up to you to decide whether you are more concerned with money being taken upfront or later.
Factors Affecting Premium Rates
Some factors that can affect the premium rate for your pet (for VPI or any other pet insurance company) are the age of the pet, the type of pet you have especially if you have something other than a dog or cat the state that you and your pet reside, your pets vulnerability to illnesses, and if your pet is already sick.
The good news is no pet insurance premium is likely to rise above the out-of-pocket costs you can easily accrue without it. This means getting the insurance sounds like a much better option than spending thousands of dollars from the multiple vet visits that any pet (especially and older one) could require especially with the major veterinary medicine advancements that are skyrocketing costs.
Is it Right for You?
Of course Im not here to make choices for you, but with gas prices continuously on the rise, food prices going up, mortgages doubling and tripling very soon, and salaries staying the same, it might not be a bad idea for you to consider getting out there to see what pet insurance premiums seem to work within your price range. Because if you are like many pet owners out there who feel that their dog, cat or exotic animal is a part of the family, you are not trying to put your little buddy to sleep when it can easily be avoided. If you look around at different pet insurance policies and think none will reduce the costs that you are currently spending at the vet, dont waste your time or money. But if you see a benefit at all, it might not hurt to consider it as you may be saving your little buddys life.
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