Pet Insurance for Your Dog or Cat

Why is Pet Insurance Important?

Did you know that every six seconds, a pet owner is faced with a veterinary bill over $1,000? It sort of makes you think whether pet insurance offers the peace of mind that owners need as their pets age.

Pet insurance is a type of insurance policy that helps cover the cost of veterinary care for your pets. It can be a valuable tool for pet owners, as it helps manage unexpected expenses due to accidents, illnesses, or even routine care, depending on the policy. Here’s an overview of how pet insurance works, the different types of coverage available, and things to consider when choosing a plan.

Pet owners pay a monthly or annual premium to maintain their policy. The cost of premiums depends on factors such as the pet’s species, breed, age, and location, as well as the type of coverage selected.

With most pet insurance policies, if your pet gets sick or has an accident, you can go to any licensed veterinarian in your origin or destination country for treatment.

As a traveling pet owner, one of the most important things you can do is ensure that your pet is as healthy as possible prior to traveling. But what happens if your pet is injured or struck with a sudden illness while you are away from home?

How Pet Insurance Works

Unlike human health insurance, pet insurance typically operates on a reimbursement basis. You pay the veterinary bill upfront, submit a claim to the insurance company, and are reimbursed for eligible expenses according to the terms of your policy. With many policies, if your pet gets sick or injured in a foreign country, you will need to pay for treatment, then claim the expenses when you get home. Note that general health procedures such as health certificate issuance or the administration of vaccinations, tests and treatments required to travel will not be covered.

Pet insurance policies usually come with a deductible, which is the amount you must pay out-of-pocket before the insurance company starts covering expenses. Deductibles can be annual or per-incident. After the deductible is met, then the insurance company will pay a portion of the balance of the veterinary charges. Some policies have annual, lifetime, or per-condition coverage limits, which cap the amount the insurance company will pay.

Pet insurance policies typically have waiting periods before coverage begins (often 14 days for illnesses and a few days for accidents). Insurance for younger pets tends to be more affordable because they are less likely to have health problems. Premiums may increase as the pet ages.

What is Covered

Pet insurance companies can provide coverage for some or all of the following conditions:

• Emergency care: Visits to the vet for emergency situations, such as accidents or life-threatening illnesses.
• Surgeries: Costs for necessary surgeries, including anesthesia and post-op care.
• Diagnostics: Blood tests, X-rays, MRIs, ultrasounds, and other diagnostics to identify illness or injury.
• Medications: Prescription medications to treat covered conditions.
• Chronic conditions: Management of long-term conditions like diabetes, arthritis, or allergies (depending on the policy).
• Hereditary conditions: Certain plans cover breed-specific hereditary conditions like hip dysplasia, heart disease, or respiratory issues.
• Cancer treatment: Chemotherapy, radiation, and related treatments for cancer.

What is Not Covered

• Pre-existing Conditions: Most pet insurance plans do not cover any illnesses or injuries that occurred or were diagnosed before the policy’s start date.
• Routine Care (Unless specified): Standard accident and illness plans generally do not cover wellness care, vaccinations, or dental cleanings unless you purchase a wellness rider or select a comprehensive plan.
• Elective Procedures: Cosmetic or non-essential procedures, such as ear cropping or tail docking, are usually not covered.
• Breeding Costs: Costs related to pregnancy, labor, and newborn care are typically excluded.
• Behavioral Issues: Some plans do not cover treatment for behavioral problems, though specific behavioral plans may be available.

What to Consider Before Making a Decision

• Does the policy cover all chronic, congenital and hereditary conditions? Many insurance companies will not cover preexisting or breed-typical conditions.
• Is there a time limit on treatment required per condition?
• Is there a dollar limit on treatment required per condition? Some policies cap the total amount they will pay per year, per incident, or over your pet’s lifetime.
• Are there flexible coverage options to fit your budget and needs exactly?
• How much will the policy cost? Veterinary costs vary by region, so your location can affect your premiums. Urban areas with higher veterinary costs often have more expensive insurance rates.
• How well established is the company? How is it rated?

When Should Pet Owners Consider Getting Pet Insurance

• Your budget may not allow veterinary expenses due to accidents, sickness or injury.
• Pet insurance will not cover pre-existing conditions, so it’s wise to get coverage while your pet is young and healthy to prevent issues from being excluded later.
• Your pet’s breed is known for having additional health issues. (King Charles Cavelier, snub-nosed breeds, Dachshunds, etc.)
• You have an adventurous pet that likes to explore, is very active or gets into everything.
• Your area of residence is known for contagious diseases spread by insects or poisonous vegetation that your dog or cat may get into.

Look at the exclusions carefully to ensure the plan fits your needs.

Questions to Ask

When choosing pet insurance for traveling pets, you can consider things like:

• Covered countries: Which countries are included in the policy?
• Claim payouts: The maximum amount that can be paid out for a claim.
• Covered situations: What types of situations are covered, like accidents or illnesses.
• Age: The age of your pet that the policy covers up to.
• Pre-existing conditions: Whether pre-existing conditions are excluded.
• Duration: How long the coverage lasts while you’re abroad.
• Exclusions: Look at the exclusions carefully to ensure the plan fits your needs.

Choosing the right plan requires considering factors such as your pet’s age, breed, and health needs, as well as the coverage limits, premiums, and deductibles of different insurance providers. You may be able to afford advanced treatments like surgery, chemotherapy, or specialized care that could otherwise be cost-prohibitive. Most of all, pet insurance provides peace of mind so that you can provide the best possible care for your pet without worrying about high veterinary bills.

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