Why buy pet insurance?

Unable to afford treatments for unexpected illnesses or accidents, which can easily run into the hundreds or thousands of dollars, people are sometimes forced to give up their beloved companions, or have them euthanized long before their time. If you’re wondering why veterinary procedures and treatments for even common ailments are so expensive, consider how health care for companion animals has improved over the last number of years. “The quality of care available to your dog or cat has increased immeasurably, and with those advances come higher costs,” explains Mark Warren, President of PetCare Pet Insurance (www.petcareinsurance.com). “We recently paid out on a pacemaker for a dog. Who, even seven or eight years ago, would have thought of pacemakers for dogs?”

Considering that two-thirds of all companion animals will experience a major health problem during their lifetime, it makes sense to do what you can now to make things easier for yourself and your animal, when or if the time comes. Together with proper preventative health care, pet insurance is the best way to prepare. “Insurance is all about managing risk, and pet insurance is simply a way of managing the risks associated with the future health care needs of your dog or cat,” says Mark.

How does it work?

Although pet insurance has been available in North America since the early 1980s, it’s only been in recent years that its popularity has really begun to increase. Today, there are several providers selling health insurance for dogs, cats and other animals, and each offers a range of programs designed to best suit the needs of your companion. “We have entry level programs for approximately $10 a month that will cover basic accident coverage as well as first-time illnesses,” says Mark. “That’s relatively low-end, less comprehensive coverage. For anywhere upwards of $25 to $30 a month for a cat, or $50 to $55 a month for a dog, you can have coverage for up to $7,500 per event for all accidents and illnesses known to the dog and cat world.” PetCare’s programs also include a policy especially for senior animals. “Our premiums don’t increase as your pet ages, but the actual enrollment age is important,” explains Mark. “If you wait until your animal is a senior before you enroll, then you can’t buy comprehensive coverage. You have to buy more restrictive coverage, and that’s where our senior program comes in. It’s not as comprehensive, but it’s for those pets that have never before been insured but have passed the enrollment age limit.”

Other programs offered by PetCare include TenantCare for both dogs and cats. Designed especially for people living in rental accommodations, the policy includes coverage for any damage your animal might cause to your apartment that your landlord holds you responsible for. There’s also a program that provides coverage for illnesses and accidents most likely to affect indoor cats, such as diabetes, lower urinary tract disease, and foreign body ingestion. The ShelterCare program, meanwhile, is designed specifically for pets adopted from shelters. “It’s effectively a 30-day gift of insurance, prepaid by petfinder.com, and covers the seven most common illnesses pets from shelters are likely to experience – things like upper respiratory infections, parvo, and kennel cough,” says Mark. “After the 30-day prepaid gift, you have the option to convert to one of our core insurance programs.”

Types of policy and the coverage they offer, as well as deductibles, premiums, and turnaround payment times, vary depending on the company you buy the insurance from, so it’s important to do your homework to make sure you’re getting what works best for you and your animal. “We offer 100 percent illness coverage with no deductibles,” says Mark. “We also cover holistic treatments.”