In 2019, pet owners in the United States spent over $1.5 billion on pet insurance. This investment in pet health and well-being was driven by the need to address unexpected veterinary expenses. Every six seconds, a dog owner receives a bill exceeding $1,000, and one in three pets will require unexpected medical care in a given year. Have you ever wondered about the benefits of pet insurance, its costs, what is covered, and what is not? This article will provide you with a comprehensive understanding of pet insurance for dogs and help you choose the right plan for your furry friend.
Benefits of Pet Insurance
Here are the key advantages of having pet insurance:
- Peace of Mind: Pet insurance offers the freedom to choose the best medical care for your dog without being constrained by financial concerns. Most pet insurers reimburse up to 60 percent of your total vet bill.
- Choice of Veterinarian: As long as your vet is licensed, pet insurers won’t limit your choice. There are no out-of-network doctors who can charge exorbitant fees.
- No Breed Discrimination: You can insure any dog breed that is at least eight weeks old.
- Flexible Payment Options: Pet care premiums can be paid monthly, quarterly, semi-annually, or annually. Most plans also offer discounts of 5 to 10 percent for multiple pets.
- Extended Life: Routine and necessary visits to the vet encourage early detection of diseases and health issues, ensuring your dog receives timely and treatable care.
What Pet Insurance Does Not Cover
While pet insurance is valuable, there are common exclusions you should be aware of:
- Pre-existing Conditions: Any illness or injury your dog had before the insurance policy’s start date is considered pre-existing and is not covered.
- Preventive Care: This includes procedures like spaying/neutering, annual exams, vaccinations, and dental care unless a wellness rider is added to your policy.
- Office Visits and Exam Fees: While most insurers with annual reimbursement limits cover office visit fees, those without limits will not.
- Hereditary Disorders: Conditions inherited from your dog’s parents, like allergies or hip dysplasia, may require an extra fee.
- Elective Procedures: Tail docking, ear cropping, feline declawing, and dewclaw removal are typically not covered.
- Prescription Drugs: Some insurers may not cover pills, injections, or liquid medications beyond the initial dose given by your veterinarian.
- Behavioral Problems: Issues like excessive barking, digging, or destructive chewing may have limited or no coverage.
- Alternative and Holistic Therapies: While some therapies like chiropractic care or acupuncture may be covered, they are often limited.
- Non-veterinary Related Services: Services like waste disposal, medical records, and credit card fees are typically excluded.
Top Pet Insurance Companies
Several pet insurance companies offer different coverage options. Here are some of the best ones:
- Embrace Pet Insurance:
- Covers dogs aged 6 weeks to 14 years.
- Offers coverage for pre-existing conditions that have been symptom and treatment-free for a year.
- Reimburses for chemotherapy, emergency care, surgeries, physical therapies, and prescription drugs.
- Includes a Wellness Rewards program for wellness exams, vaccinations, grooming, and more.
- Waiting periods: 48 hours for accidents, 14 days for illnesses, and 6 months for orthopedic conditions.
- Deductibles range from $200 to $1,000.
- PetFirst Pet Insurance:
- Covers dogs from 8 weeks old with no maximum age limit.
- Offers Cost-Conscious, Recommended, and High-Deductible plans.
- Includes x-rays, surgeries, holistic care, and more.
- Provides Routine Rider for annual exams, vaccines, and other care.
- Waiting periods: 12:00 a.m. EST after enrollment for accident coverage, 14 days for illness, and 6 months for orthopedic conditions.
- Deductibles range from $250 to $2,500.
- Figo Pet Insurance:
- Covers dogs aged 8 weeks with no upper age limit.
- Offers a 60 to 100 percent reimbursement option and no per-incident claim cap.
- Covers hereditary and congenital diseases, stem cell research, prosthetic devices, and more.
- Includes coverage for traveling within the U.S., Canada, and Puerto Rico.
- Waiting periods: 3 days for accidents, 14 days for illnesses, and 6 months for knee conditions.
- Deductibles range from $100 to $1,500.
- Healthy Paws Pet Insurance:
- Offers accident, illness, cancer, specialty care, and genetic condition coverage.
- No annual, per-incident, or lifetime caps.
- Waiting periods: 15 days for accident or illness claims and 12 months for hip dysplasia.
- Deductibles range from $100 to $750.
- Trupanion Pet Insurance:
- Covers hereditary and congenital conditions with no premium increases due to age.
- Provides an additional Recovery and Complementary Care Rider.
- Offers a Pet Owner Assistance Package for various pet-related costs.
- Reimbursement for claims even after meeting your deductible.
- Waiting periods: 5 days for injuries, 30 days for illnesses, and 6 months for knee conditions.
- Deductibles range from $0 to $1,000.
When considering pet insurance, weigh the specific needs of your dog and choose a plan that aligns with your budget and expectations. The right coverage ensures that your furry companion receives the best possible care without the burden of unexpected expenses.
