Does Pet Insurance Make Sense for My Golden Retriever?

When Things Go Wrong

Canine accidents and illnesses are scary and traumatic. When your pet is unexpectedly hurt or falls sick, each of us wants to ensure the best possible medical care for our dog. Such care may necessitate specialized veterinary procedures, hospitalization, and medication. This can result in large vet bills that can easily add up to thousands of dollars. With my dog’s health and my finances in mind, what do I need to know about pet insurance?

Learn About Pet Insurance Coverage

Pet insurance is offered with different types of coverage. Accident and illness plans cover unexpected emergencies or sickness. This type of plan is generally the most comprehensive. Coverage examples for this type of plan include your dog getting hit by a car or contracting canine parvovirus. Accident-alone plans are more limited and focus on sudden traumatic injuries. While not all companies offer these plans, they tend to be the least expensive. Wellness plans are also available. These cover routine services such as exams, vaccinations, and bloodwork.

Consider Pet Insurance Premiums and Deductibles

Depending on the level of coverage and your dog’s health specifics, premiums (regular insurance payments) can range from $20-$80 per month. According to recent data, accident and illness pet insurance premiums averaged about $650 dollars annually for a dog while accident premiums alone averaged about $200. Deductibles (the amount you pay before insurance contributes) can frequently range from $100-$500+ depending on your plan. Generally, lower deductibles will result in higher premiums.

Research and Compare Pet Insurance Companies

Make sure you get quotes from different providers. Check annual coverage amounts; a few companies offer unlimited coverage while others will cover up to a fixed amount per year. Ask about reimbursement rates. This is the amount a company pays after you have met your deductible. Most pet insurance companies pay 80% of the post deductible bill. Look at the insurance companies’ financial reliability rating. A reputable provider should be scored A or higher.

Pay Attention to Fine Print

Most plans will not cover pre-existing conditions. For example, if your dog already has cancer or an orthopedic injury, these would not be covered. Some companies have short waiting periods (the time before your plan activates) while others are longer (several weeks rather than several days). Just like with humans, older dogs are likely to have higher premiums.

Make An Informed Choice

Every dog owner’s situation is unique. Normally, routine care/wellness visits are not worth getting pet insurance for. However, an accident policy can offer peace of mind when significant costs are a concern. Regardless of whether or not you opt for pet insurance, preventative treatments, supplements, and exercise can all make a tremendous difference in the health of your golden retriever. To learn more about our happy and healthy AKC goldens, click here. We always welcome visitors to our kennels in beautiful Bradford, Maine.