Paws for thought on pet insurance
Do you have a precious pooch or a much-loved Miss Kitty, or a tank full of Nimos? Do you worry if anything goes wrong with your pet you won’t be able to afford the vet bill? If so, you may want to know more about pet insurance.
There are well over 100 million dogs and cats in the U.S with more than 60 percent of all households owning a cat or a dog. This clearly shows we love pets, an observation confirmed by the fact 90 percent of pet owners take their pets to the vet for preventive care and vaccinations on a regular basis.
I got interested in pet insurance because at any given time our family has two resident felines and a newcomer on the porch patiently waiting for my husband to get past his “no more cats” mantra.
Unfortunately for our family budget the cost of veterinary pet care has risen dramatically, just like the cost of our human health insurance. Unlike auto or home insurance, the choices for pet insurance companies are still relatively few. Our research found there are a handful of growing companies that offer pet insurance packages that work much like human health insurance, offering coverage for accidents and illness.
When you decide to choose a pet insurance company there are many policy options you will want to ask about such as benefit limits, deductibles, and most importantly what is covered. As with most insurance policies, you must read the policy carefully.
Things to consider when selecting pet insurance:
• If your pet already has a pre-existing condition, this may not be covered by the pet insurance policy. Check the policy carefully. Some pet insurance will not cover congenital defects.
• A pedigree will cost far more to insure than a mongrel. A dog will cost more to insure than a cat.
• Check to see if the insurance policy covers routine things like neutering, teeth cleaning, vaccinations and if they don’t when is it possible for you to get added coverage for that.
• Can you pick the veterinarian? Some pet insurance policies will only allow you to choose from a list of vets on their database.
• Determine if there is a flat deductible fee that’s paid or if it’s a percentage scaled rate where you have to pay out a percentage of the costs.
• Check that the pet insurance policy you buy is valid in Tennessee
While you are checking what is included in the pet insurance policy, it is also worth checking what’s not included. For example, is there a maximum amount the insurance company will pay out in one year for vet bills?
Premiums for pet insurance policies vary from $19 per month for dogs and $12 per month for cats to much more expensive monthly premiums. The age of your pet plays a big factor in premium costs. If your pet is over 8, then the number of insurers and policies available to you will decrease.
The Better Business Bureau is just beginning to receive inquiry calls from consumers wanting information on pet insurance.
For more information contact the Better Business Bureau at (615) 867-0032 during regular office hours or at (615) 242-4222. You can also visit our Web site at www.goBBB.org.