How does dog insurance work?
I have seen it advertised. I am in the US and was wondering if it would be worth it. Does it cover everything? All yearly tests? Medications? Diseases? Accidents? Are there any companies you recommend?
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Tagged with: accidents • diseases • Dog Insurance • insurance • Insurance Work
Filed under: Dog Insurance
All pet insurances in the US are indemnity insurance which means they work on a reimbursement model.
You pay your monthly premiums, then say your pet breaks a bone. The vet charges you $300, you submit that bill to the pet insurance company.
They typically cover 80-90% of the bill (after deductible is met) so say you have a $50 deductible, then the company will send you a check for 90% of the $250 remainder.
Some pet insurance companies cover routine care like vaccines, exams, etc. but it’s not worth it because you’re just paying higher costs each month and it doesn’t save you any money, rather you actually end up paying more through the insurance than if you were to manage those costs yourself. (Just like car insurance, for example, why would you pay an extra $300 on your car insurance for "oil change coverage" when you only get $200 worth of oil changes in a year)
Pet insurance is good for the unexpected. Typically, they cover accidents and illnesses. You want to get one that covers cancer, hereditary conditions, and chronic conditions (because some plans do not cover all of these). Also a plan that covers ongoing conditions year to year. Some plans will only pay for a chronic condition like cancer for the first year and then stop paying when the policy is renewed.
I think pet insurance is a good idea to get, especially for really young pets because A) puppies/kittens eat random things and get into mischief and B) they have their whole life ahead of them so who knows what could happen in all those years.
Pet insurance is insurance afterall, so it’s not for the purpose of getting all of the money back that you put into it (do you really WANT your pet to get really sick and hurt just so you can claim lots of money?). However, it’s great to have, just in case your pet is one of the unlucky ones who does require lots of veterinary treatment.
I have my dog insured through Trupanion pet insurance which I would recommend. It covers 90% with no annual or per-incident limits and I believe it’s the only company that lets you choose a $0 deductible (which is what I have).
Hope this helped!
Insurances vary on what they cover. Unlike human insurance, you pay the bill first and send it in and they reimburse you later. They give you a list on what they will and will not cover. They rarely cover pre-existing conditions. Price will vary depending on breed of dog and also what they will cover on each dog will vary.
Just like any insurance. Read the policy, re-read it, ask questions. Policies vary widely, so don’t rely on anything you read here. You can get a policy that covers everything – just as with human health insurance – opt for a catastrophic-only type of policy, etc. Be sure you look at the annual and lifetime limits!
It’s like any other insurance, car or house for example- there are different scenarios, clauses, and costs.
So you still have to pay for MOT and gas for your car- so standard shots normally won’t be covered by the insurance, and fixing may or may not be depending on your policy. What insurance really exists for is accidents (so if the dog was hit by a car) and illness, though most policies will have a clause about preexisting conditions (just like human life insurance) or long term illness and will only cover up to a certain cost.
It’s all a bit complicated and what is covered and how much is covered depends on how much you put in, and the company you get involved in. I would say it’s worth it for a dog- it may not cover the basic vet care a dog needs, but for those emergencies, it’s a lifeline.
it is not quite worth it, i’ve looked into it myself…they don’t cover anything, it’s not for medical…ITS MORE FOR DOG FIGHTS…
hope i helped…
Not sure how it works in the US, but similar to Australia where I am I guess.
I pay about $90 (USD80) per month which covers my two dogs (you get a slight discount on a second animal), with RSPCA pet insurance. This cover gives me 80% of any vet bills back (including medicines), as well as covering things like heartworm or regular worming tabs, council registration etc. There are obviously waiting periods on things like hip replacements as there are on peoples health insurance. A policy can only be issued to dogs between 8 weeks old and 7 years old. If your dog is over 7 then the insurance will only issue a policy for accidental stuff (like being hit by a car) this is to stop people only insuring their dog when it’s older and needs treatment – so if you have a middle aged dog find out what they will cover. Obviously if your dog is insured before the cut off age then he/she retains full cover until they die or you stop paying the premiums.
Here in Australia there are many different firms offering policies. Ask at your vet as to which ones people seem happiest with – and make sure you are comparing apples with apples when looking at differnt policies. The cheapest premiums may not work out to be the best option!