Should you get pet insurance?
By Allen Salo
Board Member
Because of the recent challenges our country is dealing with concerning changes in health care insurance for individuals, it is easy to think about what type of options are available for animals today.
According to a recent article in USA Today, more pet health insurance companies have formed to help people budget for unexpected veterinary emergencies. In fact, pet insurance providers have grown in number tenfold during the last decade to combat such costs. The majority of insurance providers offer different levels of coverage with basic plans protecting against accident and illness. Monthly premiums range from around $15 a month to $75 for comprehensive coverage, with most policies reimbursing 80 to 90 percent of a claim. Additionally, dogs are insured about four times more commonly than are cats.
Common claims for dogs are allergies, swallowed objects, cancer and ear infections; for cats, kidney disease, cancer, and bite wounds are common. The article notes that no plan covers pre-existing conditions and certain other common exceptions include genetic disorders, cosmetic surgery or breeding expenses.
Interestingly, pet owners in Europe have been much more likely to have their animals covered, at about 20 percent, while only about 1 percent of pets in the U.S. are covered by such plans, although the market appears to be growing. In part, this may be due to the policies’ more recent emergence in the U.S. According to Wikipedia, the first pet insurance policy was sold in the U.S. in 1982, whereas Britain has had pet insurance since 1947.
As for particular plans one may consider, a recent review from two pet insurance ranking websites, www.topconsumerreviews.com/pet-insurance/ and www.consumersadvocate.org/pet-insurance/index.html identified the following companies to be most highly ranked (in descending order, with a tie for first) Embrace (www.embracepetinsurance.com) and Healthy Paws (www.healthypawspetinsurance.com), Pets Best (www.petsbest.com), and Trupanion (trupanion.com). Other companies may offer fine services too, and if you or your pet(s) have special needs, careful review of plans may indicate one that best suits those needs. Some policies will pay out when a pet dies or even if it is lost or stolen.
If you don’t already have health insurance for your animal family members, maybe it makes sense to get some coverage for them as well. It may make budgeting for such emergencies (or even routine care) a bit easier to deal with should they occur.
Don’t forget our fourth annual Toast for the Animals to be held Friday, Nov. 22, from 6 to 9 p.m. at the Northeastland Hotel in Presque Isle. A $15 ticket will provide you with drink tickets enabling you to try four different Maine-made beers. A silent auction at the event will allow you to bid on various items.
Remember as well that the Central Aroostook Humane Society is open Tuesday through Saturday, 10 a.m. to 4 p.m., closing for lunch from 12 to 12:30 p.m. Donations and visits with the animals are always welcome. Several cats, kittens and dogs are still waiting adoption.
References: http://usatoday30.usatoday.com/money/perfi/insurance/story/2012-03-06/pet-insurance-veterinary-expenses/53388516/1 and http://en.wikipedia.org/wiki/Pet_insurance.
