Health Care for Buster: All About Pet Insurance - The Simple Dollar

Pet insurance for dogs and cats works vastly different than human healthcare plans
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A pet health insurance policy can help defray those costs, explains Kristen Lynch, executive director of the North American Pet Health Insurance Association in Chagrin Falls, Ohio. This financial risk-management tool can make the difference between affording health care for your dog — and not.
Insurance for pets is a smart way to help you provide high-quality health care for your pet. For you, it can help provide peace of mind.
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Is pet insurance a good deal? explored its value last year and concluded it’s typically not worth the price. Only if your pet will insurance pay out more than you would pay in premiums. According to analysis by Ms. Finkelstein and her Stanford colleagues, nearly two-thirds of all pet care costs is spent by just 20 percent of households with pets. This guarantees that most policyholders won’t get back what they pay in. This is true of human health insurance, too, and for the same reason. Pet Health Care Insurance Recommendations and Information
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Photo provided by FlickrPet Health Insurance | Medical Care Costs for Pets TexVetPets
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A pet is a member of your family. Whether your pet is a yellow lab, a tabby cat, or a chinchilla, you undoubtedly want to give it the best care you can. If you’ve ever had to make an emergency vet visit, you know that the costs can quickly strain any budget. Because of the high cost of pet health care, unfortunately many families must make the difficult choice of whether or not to take additional measures to save a pet based on cost. Regular checkups are also necessary to maintain your pet’s health. You can pay out of pocket for every visit, or you can invest in pet care health insurance.Some pet care health insurance companies may only offer for dogs. Others may offer pet insurance for cats but will not cover your lizard. The more exotic your pet is, the harder it will be to find pet health insurance plans that will cover it.Buying pet care health insurance is a personal decision. It has become more popular and available due to advancements in veterinary medicine. Today, veterinarians are able to perform better diagnostic tests and procedures that can save more animals' lives. Even if your pet is young and healthy, you may find that some pet health insurance plans make sense for your needs and budget. On the other hand, if buying pet health care insurance will have a significant impact on your wallet, you may just want to set money aside for emergencies.VPI takes the last spot on the cheapest pet insurance list, with rates well below the average in several cities across the country. Like many other companies on this list, they offer an accident-only policy, but their standard policies are also relatively cheap compared to much of the rest of the industry. It pays for all medical treatment related to covered accidents and illnesses, and even chronic conditions. You have the choice between several different deductible and copay options so you can tailor the policy to suit your needs. If you’d like, you can choose to have no copay or deductible at all, though doing so raises your premiums. For this reason, you’ll want to think carefully about what’s best for your budget before making this decision. Take into consideration the breed of your pet. Some animals are more prone to health issues. If you aren’t sure what kind of health issues your pet could have, speak to your vet. If you know that your dog’s breeding causes him to be prone to hip problems, you might want to consider buying pet health care insurance.There are different types of health insurance pet policies that have varying levels of coverage. Accident coverage will cover your dog or cat if it gets hit by a car. You can also add illness coverage which protects against the costs associated with unexpected illness. More comprehensive plans are offered that will pay for a range of procedures from preventive care to surgeries.