Pet Insurance

The first time I heard about pet insurance I was already thinking it was a sure fire money give a way. I was actually thinking of some sort of funeral service type insurance or rare oddity insurance. Recently I talked to a friend about pet insurance and she was actually very glad she had it and explained it’s not about death or even rare situations. Most pet insurance is about when your pet gets sick, injured, or has a disease. For a small monthly fee you can feel good knowing if your pet has a serious health issue you will be covered. After reading these stats on pet medical payments I can see why she loved pet insurance so much.

In 2010 Americans will spend an estimated $9.4 billion on their pet’s healthcare, up from $8.7 billion a year ago, according to the American Pet Products Manufacturers Association. Dog owners will pay an average of $211 for basic vet care, up from $156 in 2000. Cat owners will hand over $179 for their pet’s annual medical bills, up from $117.

Most serious pet diseases will run into the thousands easily. Knowing that, a small monthly fee is not a bad idea if you value piece of mind that your pet will be covered if something serious happens. You can get pet insurance quotes online anytime or contact your local vet for more options.

In most cases insurance will cost more then it will pay out. Medical premiums can range from $2,000 to $5,000 over a pet’s average lifespan. In addition, VPI policyholders, for example, pay a $50 per incident deductible and are reimbursed for up to 90 percent of the vet bill, within the limits of the plan’s benefit allowance schedule. With other insurers, deductibles can be as high as $100, and coverage ranges from 70 percent to 100 percent of allowable charges.

So it really boils down to the value of piece of mind and you.