The rising cost of human medical treatment would only suggest that veterinary medicine will be on the rise as well. This is expected to greatly increase interest in Pet Insurance. There are many pet insurance companies. Two of the most popular ones are VPI Pet Insurance and ASPCA Pet Health Insurance (American Society for the Prevention of Cruelty to Animals). A newcomer to the pet insurance field is the Purina Company, which hopes to launch their insurance plan soon.
How do you know if you need insurance? Well part of the question can be answered by your own concern for your pet. Questions you can ask yourself are: Can I afford to care for my pet if he/she were to be hit by a car? Or if your pet becomes ill and needs hospitalization. VPI reports on average a broken leg can cost upwards of $2,122 for care through the end of the healing process. Hospitalization for illness can start at $500 and skyrocket upwards depending on the severity of the illness. If you are not prepared to absorb these costs, pet insurance may be a good idea.
Basic plans, which cover accidents such as fractures, burns, falls, etc. can be as little as $9.00 a month which can be a pretty good deal especially if you live near a busy street or if your pet tends to wander or is accident prone. Depending on what type of coverage you wish to carry some of the plans can be as expensive as $80.00 a month or more. Just like with most insurance, generally the higher the monthly premium the more coverage you can get. Be prepared to pay at least a $100 deductible. Coverage usually pays out 80% of your expenses, but also carries a maximum benefit amount per incident. For example: $5,000 a year or $2,600 per incident. Most insurance companies will require you to pay the veterinary bill at the time of the release of your pet and then have you fill out a form and send the form and your receipts into the company to be reimbursed for your expenses.
Overall if you are concerned about how to pay for a major medical incident for your pet, insurance can be a good idea. If you would like to check out prices, and benefits of these two insurance companies here are the websites. Be careful to look at the benefits closely and look for any hidden fees.
ASPCA Pet Health Insurance: www.aspcapetinsurance.com/info
Toll Free:1-866-861-9092
VPI Pet Health Insurance: petinsurance.com Toll Free 1-800-USA-PETS
Written by Sharon Foss AHT
