Newsletters

OCTOBER NEWSLETTER

Pet Insurance
Lori Sanders, LVT

We all want our pets to live a long, healthy life. Unfortunately, most of our pets will experience an injury or illness at some point in their lives. Sometimes the costs associated with medical treatment can be overwhelming and just do not fit easily into a normal household budget. One way to protect you and your pet against having to make a difficult financial decision is to have pet insurance.

Pet insurance is similar to our own health insurance as it provides a way to share the costs of medical care with you and the insurance company. The biggest difference is that pet insurance is a reimbursement plan. That means you pay for the medical treatment, submit a claim to your insurance company, and they send you a check directly. There are several companies that offer pet coverage, and comparing their options can be challenging, so here are some things to consider.

Who should get pet insurance?

If it fits into your budget, any pet would benefit from this coverage, but those pets with a high probability of hereditary or breed pre-dispositions to chronic issues should absolutely consider getting insurance when their pet is young, BEFORE an issue arises. Some breeds that could fit into this category include: Dachshunds, Cavaliers, Golden Retrievers, Labrador retrievers, German Shepherds, Schnauzers, pure bred cats, many types of terriers and all types of bulldogs.

Where can I get an insurance plan?

There are several options besides just research on the internet. Check with your current home or auto insurance provider to see if they offer this coverage. Some employee benefits packages also include a discount for pet coverage. If you are a member of a professional or social organization or a warehouse store they may offer members discounted rates. For example, Costco, AARP, Sam’s Club, AAA and some rewards credit cards offer discounts on policies to members.

Coverage:

Most policies cover only accidents and illnesses. Routine care, such as vaccinations, flea and tick prevention and dental care can be added to some policies for an additional price. Some insurance companies even allow you to add special coverage for physical therapy, acupuncture, and experimental cancer treatments. When comparing policies, read the “what is covered” documents carefully to make sure you understand what you are getting.

Exclusions:

These are conditions that the policy will NOT pay for. Some policies exclude any condition your pet has been treated for before you purchase coverage – this is called a “pre-existing conditions”. Some exclude hereditary or breed disposed problems. Most companies will review your pet’s medical chart to make these decisions and include it in your policy documents.

Premiums:

The amount you pay each month in exchange for coverage. This varies based on the age, breed and where you live. Luckily, Nebraska pets generally have a lower cost compared to pets living in more urban, high-density areas of the country.

Deductible:

This is the amount you will pay out of pocket before insurance will kick in. Some policies will charge a deductible every calendar year, others will charge a deductible per diagnosis. This can be helpful if your pet experiences a chronic, life-long disease such as arthritis, allergies or diabetes. Every policy has its own deductible and some companies allow you to choose your own deductible. Normally, the higher the deductible, the lower the premiums.

This can be confusing. Who do you recommend?

Yes, it can be overwhelming. Parks absolutely encourages pet owners to explore medical insurance coverage for pets, but does not endorse a specific company.

Deciding if pet insurance is right for you and your pet can be challenging. There are many options to choose from but it is a great way to protect you and your family against unexpected veterinary medical bills. Knowing you have a financial plan to provide excellent medical care to your beloved pet in the event of a life-changing accident or illness can bring incredible peace of mind at a stressful time.