Domestic pets are always eating something that they shouldn’t, and then they need a surgical treatment to get better. Some of the things that are most commonly surgically removed are socks, underwear, pantyhose, rocks, balls, chew toys, corncobs, bones, hair ties/ ribbons, and sticks.

Pet lovers who do not purchase pet insurance usually just take a pragmatic approach to their pets. If the price of healthcare is too much, then they will typically decide to have their pets put down. There are some pet owners who think they can draw the line at a certain amount, but they find it hard to do so when the time comes.

There are many reasons for this behavior: their children are upset, the vet assures them the treatment will work, and they experience feelings of guilt. When this happens, some pet owners just break down and spend the money.

If you can’t afford to pay for your pet’s medical treatments in case of an emergency, then you should think about getting your pet insured. Before you select an insurance policy for your pet, you should first do a little research on the subject so that you will be knowledgeable enough to get the best plan for the least expensive price.

• Look around first because policies and premiums can vary widely. Don’t only look at the monthly or annual cost but also look at the differences in deductibles, copayments, and treatment caps. See which one will limit the payouts by incident, year, or your pet’s lifespan. You should ask the company if they offer discounts for having multiple pets insured or if your employer offers pet insurance as an optional voluntary benefit.

• Take your time to carefully examine the policies companies offer. Be certain that you understand what each company excludes. The conditions that are excluded from the policy are the illnesses and injuries that will most likely afflict your pet.

• Try to increase the amount of money you have in savings. It was said in a consumer report that pet owners with insurance may spend more on their pets than those owners without insurance.

Whether or not you decide to purchase pet insurance, you can help control how much your pet will cost you. Here are some other ways to lower vet bills:

• When your pet needs shots, go to a low cost clinic. It is possible that your vet hosts one or two clinics a year. If not, then you can call your local Humane Society, animal control department, or veterinary hospital for help on where you can find inexpensive shots for your pet.

• If your pet seems to be ill, always get a second opinion. For most illnesses you will have time to talk with another vet before having to commit to costly treatments or medicine. You can also go online to The Merck Veterinary Manual for information and suggestions on how to deal with your pet’s condition.

• See if your vet has any samples. It may be possible that your vet has some free starter packets for a lot of the popular medications. Even if they do not have complimentary samples, you have not lost anything by asking.

• Look around for the best price on medications. You can call other vets, look in pet catalogs, and even search online for the most affordable products.

• Don’t always buy the cheapest brand of food available in stores. If you spend a little more on food, then this can pay off in fewer health issues; this is especially the case in cats. Cats are more likely to get urinary tract infections if they are fed cheap cat foods.

• Watch your pet’s weight. Animals are just like humans in a sense that if they are obese, this will increase their likelihood of having health problems.

• Keep your pet in the house or in the yard on a leash. Your pets will live longer if they are kept inside. If you let your pets run around outside, they are more likely to have accidents and contract more illnesses.

• Think hard before you choose a pet. Keep in mind that dogs end up in the vet twice as often as cats. Therefore, if you do not have a great deal of discretionary income, then a cat may be a better choice for you. You should also carefully consider the breed of dog or cat you are buying. Some animals are predisposed to hereditary illnesses, and you want to avoid vet expenses as much as necessary.

If you want pet coverage, it can typically cost somewhere in the range of $2,000 to $6,000 over the life span of an average pet. The chances of you having to spend that much on treatments are slim.

But if you are one of those people who would do just about anything to save your pet, then you might want to take the precautionary measure of getting pet insurance to avoid going into debt.

Gigantic Bills for New Treatments

A lot has changed in veterinary science, and the economics of running a veterinary practice has changed as well. Today a vet will offer treatments that didn’t even exist a few years ago, and the prices of them could make you cry. Think about these facts:

• Your pet can now get treatments that used to be reserved for humans; treatments like radiation therapy and kidney transplants. These once fatal conditions can now be treated at an expense which typically goes into the thousands of dollars.
• Your vet now has access to complicated and expensive diagnostic tools like MRI’s. Not only does this raise the cost of the visit, but new exam tools can also detect problems that before would have gone unnoticed and untreated.
• Because of these expensive tools and procedures, the cost of health care is constantly increasing.

In 2009, the American Pet Products Association figured that Americans spent $45.4 billion on their pets, and 12.2 billion dollars of that figure was spent on veterinary services. That amount was a ten percent increase over the amount spent in 2008.

There are not a lot of pet owners who actually have pet insurance. It was estimated in 2007, by the American Veterinary Medical Association, that 72 million dogs and nearly 82 million cats in the United States were kept as pets, and yet there were only 850,000 pet insurance polices in effect.

Insurance companies have teamed up with the American Kennel Club and Petco Animal Supplies to offer insurance to pet owners. There are also more than 1,600 companies including Office Depot and Google who offer pet insurance coverage as an optional employee benefit.

Exclusions, Deductibles, and Extra Fees

Veterinary Pet Insurance or VPI is one of the oldest pet insurance providers. It has seen its revenue increase by an average of 26.8 percent since 1998. This company used to own approximately 71 percent of the U.S pet insurance market. In 2007, it had $149 million in gross sales.

Pet insurance will not fix everything. Take into consideration that:

• These plans generally have deductibles, copayments, and caps that will restrict how much they pay in annual claims.
• The majority of insurance providers exclude pre-existing problems and hereditary conditions like hip dysplasia in Golden Retrievers. There is only one company, Embrace Pet Insurance, which will cover conditions like these.
• As pets grow older, the insurance premiums to cover their health expenses increase in cost. Some insurance firms will not provide coverage for animals older than nine years of age, and the ones who do will have stiff surcharges.

The most expensive common pet medical conditions:

Dogs

1. Intervertebral disk disease $2,844
2. Lung cancer $2,032
3. Gastric torsion (bloat) $1,955
4. Foreign body ingestion (small intestine) $1,629
5. Cruciate rupture $1,517
6. Foreign body ingestion (stomach) $1,398
7. Cataract (senior) $1,244
8. Bone cancer $1,059
9. Pin in broken limb $1,000
10. Brain cancer $916

Cats

1. Foreign body ingestion (small intestine) $1,629
2. Urinary tract reconstruction $1,399
3. Foreign body ingestion (stomach) $1,391
4. Rectal cancer $1,011
5. Bladder stones $989
6. Intestinal cancer $942
7. Hyperthyroidism (radiation) $920
8. Fibrosarcoma (skin cancer) $780
9. Acute renal failure $565
10. Mast cell tumors $497

Many companies offer different levels of coverage depending on your income, situation, and your pet’s age and breed. For example, VPI Pet Insurance—the nation’s oldest and largest pet insurer—offers six levels. The Superior Plan reimburses you for 90% of eligible emergency expenses up to a certain amount, after a deductible. Take this example from the VPI website:

A VPI policy holder had a two-year old Border collie in Encino California. The dog swallowed a toy and needed surgery, hospitalization, medication and follow-up care. The policy holder filed a claim for $1270. The plan allowed a benefit of $1059 after a $50 deductible—meaning $1009 in eligible expenses. VPI covered 90% of that for a total of $908.10. The policy holder ended up paying $361.90 out of pocket.

Here’s another example. ASPCA pet insurance offers five plans, and each of them includes accident coverage. The Sterling Plan—the top-of-the-line—costs $68/month for cats and $77 for dogs. It covers 80% of just about everything with a $100 yearly deductible, an incident benefit up to $2,500, and a maximum yearly benefit of $13,000. If the Border collie owner had this plan, she’d have paid $334. You can also get peace of mind with a cheap pet insurance policy. ASPCA’s Safety Plan starts at $7.50/month for cats and $9.50 for dogs. Of course this only provides basic accident coverage, meaning your out-of-pocket expenses may be higher.

It can be somewhat confusing, so be sure you ask lots of questions before choosing your veterinary insurance provider. That way you know what to expect for reimbursement and when you can expect to receive it.

Of course not all pet policies are created equal. For example, Embrace Pet Insurance covers physical therapy and hydrotherapy for rehabilitative dogs so long as the provider belongs to one of the following:

• American Veterinary Chiropractic Association
• The Academy of Veterinary Homeopathy
• The American Academy of Veterinary Acupuncture
• The American Holistic Veterinary Medicine Association

Not sure how these alternative therapies help pets? Here’s a little breakdown:

Acupuncture and Acupressure

Acupuncture helps reduce pain and inflammation to speed the healing process. May include acupuncture needles and electric stimulation. Acupressure is a similar procedure without the needles; it relies on gentle pressure from the hand instead.

Massage Therapy

Massages are great for dogs with bone and joint problems. They also promote flexibility and help with the early detection of lumps underneath the skin. Just like people-massages, they utilize different techniques, including kneading, stroking, and rubbing.

Chiropractic

Chiropractic therapy benefits dogs with joint, muscle, and nerve problems by adjusting the bones in the spine. If your pet has difficulty with mobility or is recovering from an injury, chiropractic care may be the best treatment method.

Whether you pursue an alternative therapy or not it’s still wise to consider pet insurance. That way if your pet contracts an unexpected illness, you won’t have to think twice before calling your vet.

Overview

Year Company Started: 2010

Underwriter: Markel Corporation

AM Best Financial Strength Rating: bbb+ as of 1/21/2011

Website: www.healthypawspetinsurance.com

Phone: 1800-453-4054

The newest addition to the United State’s pet insurance industry is Healthy Paws. This insurer operates in every state and DC. Their insurance offers coverage for congenital and hereditary conditions and covers the cost of treatments up to ninety percent.

Healthy Paws Pet Insurance provides lifetime health coverage. From minor accidents that heal quickly to chronic conditions that require treatment well into old age. They offer one plan covering everything that matters including injuries, illnesses, genetic conditions, and emergency care. You pay as little as 10% of your vet bill. The plan can be customized, and there are options for annual deductible and reimbursement levels.

Healthy Paws Pet Insurance Review

Rating: 8

Our review process starts with calling each of the insurance providers over the telephone and then, we gather quotes for these three pet profiles:

• A 2-year old male Yorkshire Terrier named Jax
• A 6-year old male Cocker Spaniel named Max
• An 8-year old female mixed breed cat named Fluffy

I was prompted to click 1 for the sales department. I spoke with Shandy at Healthy Paws. She was very friendly. Even though I’ve mentioned that I’ve just got a quote from their website, she was still very patiently explained the coverage details to me and answer all of my questions promptly.

The Plans/Quotes

Healthy Paws provides one plan that covers all of the essentials like illnesses, injuries, emergency conditions, and emergency care. You do not have to worry about the number of incidents or annual limits. The policy will cover all the unexpected things you may encounter.

Their plan includes accident and illness coverage with a $25,000 lifetime benefits per pet, a $500 deductible, and 10% co-payments.

For the Yorkshire Terrier: $28.16/mo

For the Cocker Spaniel: $39.29/mo

For the cat: $22.67/mo

Your plan includes coverage for:

• Diagnostics (i.e. X-Rays)
• Hospitalization
• Surgeries
• Prescription Medications
• Cancer
• Hereditary Conditions
• Congenital Conditions
• Emergency Care

Plan Details

• Coverage for any Accident or Illness
• No Annual or Per Incident Caps on Claims
• Reimbursement Levels up to 90%
• Hereditary and Congenital Conditions Covered
• Emergency Care Included
• $25,000 in Lifetime Benefits per Dog
• Complete Cancer Coverage
• Premiums increase by 9% each year

Chronic Disease and Continuous Conditions Coverage

The base policy offered by Healthy Paws Pet Insurance covers chronic diseases and continuous conditions. However, it cannot be a pre-existing condition or occur during the stipulated waiting period. Also, the lifetime maximum payout cannot have been met.

Coverage for Hereditary & Congenital Diseases

Healthy Paws covers all treatments, diagnostics, and medications that come with congenital and hereditary conditions. When a congenital or hereditary condition is found prior to the enrollment of a pet, it will be considered pre-existing and will not be covered.

For pets that are enrolled prior to six years of age, hip dysplasia coverage is available, but there is a twelve month waiting period before the coverage goes into effect.

Conclusions

In making a choice for a pet insurance provider, I will consider the following pros and cons:

Pros:

• The underwriter is strong.
• When traveling to Canada or Mexico and traveling out of state, the insurance still provides coverage.
• The lifetime payout maximum is generous.
• The coverage for hip dyplasia, hereditary or congenital disease, cancer, and chronic disease is comprehensive.
• Chronic diseases are covered continually

Cons:

• This company is newer.
• It doesn’t cover exam fees for injuries/accidents or illnesses.
• Only pets enrolled prior to six years old are eligible for hip dysplasia coverage.
• There is only limited coverage for non-routine dental care.