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      July 22, 2017

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Why Veterinarians Appreciate Pet Insurance

 

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Why Veterinarians Appreciate Pet Insurance

It’s a sad reality of pet ownership. When pets encounter expensive illnesses and injuries, many owners are faced with having to euthanize their beloved pets because they cannot afford the procedure to help them. Like any medical professional, veterinarians hate to see animals who could be helped have their lives cut short due to economic reasons.

The average dog suffering from cancer would require up to $10,000 in various procedures, including chemotherapy. An animal suffering from a broken leg can cost upwards of $2,000 to cover the cost of veterinary care. And what about the dog that gets a little too excited when playing fetch and swallows a stick? That can cost around $3,000 to $6,000 to fix, depending on the amount of damage done.

For most pet owners, medical procedures in the thousands of dollars just are not an economic reality. For them, economic euthanasia is a choice borne out of the inability to afford the expensive procedures to cure their pets.

With the growing popularity of pet insurance plans, pet owners no longer are reduced to one final option when it comes to expensive care for their pets.

So what, exactly, is pet insurance? And why do veterinarians like it?

The first official pet healthcare policy was sold in Britain in 1947. Britain trails only Sweden in the number of pet owners who provide insurance for their pets. Dogs are the most-insured pet, followed by cats and small exotic animals. While it is sold under the name “healthcare insurance,” pet health insurance is actually under the insurance umbrella for property. According to insurance laws, pets are seen as property, so the insurance policy which covers them is similar to that for any other property owned by an individual.

Like human healthcare policies, pet insurance is set up to cover certain medical expenses. There are a variety of plans at all cost levels, making it easy for any pet owner to find a plan that is right for their financial situation. Plans can cost as little as $15 a month or as much as $50. It all depends on the deductible chosen (if applicable), the reimbursement amount included and the covered options in the plan.

According to a survey published by the American Pet Products Association, an average pet insurance plan for a pet under age 6 costs $30 to $40 a month for dogs and roughly 25 percent less for cats. Over the course of a year, that is less than $400 for insurance coverage. While that may seem like a lot, it is nothing compared with the huge bills a pet owner could face if their pet is accidentally injured or is diagnosed with a serious disease.

Pet owners who wish to explore the option of pet insurance, but who want to be guaranteed a good policy with a reputable company, can check for the seal of approval from the American Animal Hospital Association. The association also provides reviews and recommendations on the best policies on the market.

Pet insurance also can be discussed with your veterinarian. While many veterinarians shy away from recommending a particular insurance plan with a specific company, more and more of them are becoming willing to educate the owners of their furry clients about the pet insurance option.

I Compared Pet Insurance Plans to See What's Best for My Fur Babies

Some of the links in this post are from our sponsors. We're letting you know because it's what Honest Abe would do. After all, he is on our favorite coin. Earlier this year, my family dog managed to rack up a $4,000 vet bill. Bandit had become so sick ...

Published:  Thu, 20 Jul 2017 01:00:00 GMT



Is Pet Insurance Worth the Cost?

Two years ago, Elizabeth Newsom-Stewart's cat Fawkes ate part of a lily plant leaf. Newsom-Stewart, then a veterinary student at Cornell University, immediately knew the danger he was in, and rushed him to an animal hospital. "Some lily plants are ...

Published:  Thu, 20 Jul 2017 20:17:00 GMT



Report explores the PET insurance industry

The UK, the US and Japan are major pet insurance markets globally. The market is expected to grow in other areas of the world in upcoming years. The growth of the segment is driven by rising pet ownership globally, associated health benefits of pet ...

Published:  Tue, 18 Jul 2017 05:32:00 GMT



Pet Insurance Market Type, Application, Specification, Technology and Forecast to 2022

New York, NY -- (SBWIRE) -- 07/19/2017 -- This report studies the Pet Insurance market status and outlook of global and United States, from angles of players, regions, product types and end industries; this report analyzes the top players in global and ...

Published:  Wed, 19 Jul 2017 06:03:00 GMT



Pet insurance latest trend in Silicon Valley perks

PALO ALTO, Calif. - Palo Alto tech companies and startups are known for giving employees perks such as free food, valet parking, laundry service and bring your dog to work days. Lately, employee benefits have extended to pet insurance for dogs and cats ...

Published:  Sun, 16 Jul 2017 08:52:00 GMT



Healthy Paws Pet Insurance Reaches 250,000 Enrolled Pets

Healthy Paws Pet Insurance-the #1 customer-rated provider of insurance for dogs and cats-is proud to announce the enrollment of their 250,000th pet. Healthy Paws has experienced extraordinary growth since enrolling their first pet in 2010, and is now a ...

Published:  Thu, 13 Jul 2017 02:37:00 GMT



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