As of 2005, only about 3% of American pet owners carried dog health insurance but that number is steadily increasing. As costs for vet services and medical procedures continue to rise, many dog owners are choosing pet insurance as a way to meet these expenses. There are many different types of pet insurance policies available, and choosing the right one for your pet can be confusing.
Here is an overview of the five most common types of dog insurance coverage.
Routine and Wellness Coverage: This is usually the least expensive type of dog health insurance. It covers routine and preventative care such as annual exams, vaccinations, deworming, spaying and neutering.
Chronic Condition Coverage: This type of pet health insurance provides coverage if your dog develops a chronic medical condition such as arthritis or diabetes. The terms of coverage vary widely between insurance companies, so make sure you know the details of any policy before you purchase it. Some companies may only cover the chronic condition up to a certain age, and others may place lifetime limits on the coverage benefits.
Genetic Condition Coverage: This is one of the most expensive types of dog health insurance coverage, and only a few insurance companies even offer it. Depending on the breed of your dog, this type of policy can be individualized to cover a wide range of genetic conditions. If you choose this type of pet insurance, make sure you discuss with your insurance provider what conditions are covered and any limitations on coverage.
Major Medical Coverage: Also called "Catastrophic Coverage", this type of dog insurance covers emergencies, accidents, and other unforeseen incidents. This coverage usually has a low monthly premium, but high deductibles mean you'll pay quite a bit out of pocket before the coverage kicks in.
Comprehensive Coverage: This type of pet health policy is usually some combination of Routine and Wellness coverage and Canine Major Medical insurance. Deductibles can be high with this type of policy - often as much as $500 or more. Many pet insurance providers will customize a policy and combine different types of coverage to meet your pet's individual needs.
You can expect to pay monthly premiums in the range of $15-$60 per month for a decent dog health insurance policy, and the most comprehensive policies can cost $100 or more every month. Always compare prices from several companies - just like other types of insurance, policy rates and limitations can vary widely. Some policies have breed restrictions and other exclusions, so it's important to read the fine print carefully. Many dog owners choose to forgo pet insurance altogether, and use a savings account to cover any dog-related expenses. Your vet is a good source of information on the different types of dog health insurance, and can help you decide what is best for your individual situation.
Don't miss this insightful post entitled - Real thoughts on Top Dog Insurance by HalleBalleDog.com, the Dog Training and Dog Care blog.
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