Monday, February 08, 2016

Putting Pet Insurance to the Test

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Sleuth the Reporte Dog

 Pet insurance is not a new idea…it’s actually been around for more than 30 years!  But, even with that history, only about 2% of American pet owners insure their pets, compared with more than 45% of pet owners in Great Britain.  Sleuth the Reporter Dog asked his friends at VNN to share some thoughts about pet insurance.

1) Pet insurance provides reimbursement for veterinary expenses if the pet owner has purchased a policy and is current on paying the premiums for that pet.

2) Unlike your health insurance, pet insurance companies most often reimburse you, not the veterinarian, for any costs incurred.  You are still responsible to pay the veterinary office up front.

3) The most important aspects to review when considering pet insurance are:  what is the monthly premium, what is the co-pay amount and does the policy cover hereditary or genetic conditions?

4) Also, be aware of the deductible.  Some companies charge a deductible annually and others charge per incident.

5) Finally, look at whether the company sets any per incident or lifetime benefits limits.

6) Some consumer groups do not consider pet insurance a good option.  Instead, they recommend using a dedicated savings account or pet health savings plan.

7) Unfortunately, most people won’t save the amount needed to pay for serious illnesses, major accidents or injuries to their pets. 

8) Pet insurance can offer peace of mind for unforeseen or urgent medical care.

9) Ask your veterinarian about which insurance plans they prefer and what their experience with the pet insurance companies has been like.

10) For more trustworthy and accurate pet health information, visit or .