In 2000, pet owners spend an estimated $7.2 million on veterinarian care. This figure increased to $11 billion in 2005. Now nearly $25 billion a year is spent on veterinary care. If you take dogs and cats, the metric is about 150 million dogs and cats in the U.S. Yet there were only 850,000 pet insurance policies in effect in 2007, according to the National Commission on Veterinary Economic Issues. Why is this?

Dogs are especially prone to injuries and accidents because they are so active, yet most people are reluctant to get premiums for their dogs because of the high prices. In a time when veterinary costs are skyrocketing, it is important that dog owners get some type of dog insurance. The question is – how much dog insurance is enough?

Even getting one of your dog’s teeth pulled, with anesthesia, x-ray, infection prevention, etc can easily run up into the thousands of dollars. Knowing this, is the bare minimum of dog insurance coverage even enough?

How Much Dog Insurance Do You Need

The average, monthly premium ranges from $20 – $40 twelve times a year. The younger your dog is when you purchase the policy; the cheaper the rates are. The required deductibles will vary based on the type of insurance you choose to get.

When deciding how much you want to pay for your premium (which will determine your coverage), remember that most serious veterinarian visits cost anywhere from $1,000 to $5,000 per incident. Over the life of your dog, your policy itself will cost you no more than $6,000.00

The Different Types of Dog Insurance

“Catastrophic coverage” or major dog insurance is what you want to have in the event of serious accidents and unpredictable conditions. With this policy, there is a low monthly payment but a very high deductible.

Comprehensive policies are affiliated with this type of coverage. It is a combination of routine coverage and catastrophic coverage. The deductibles for this type of policy usually begin at $500.

Wellness and Routine coverage applies to all normal procedures that dogs need to stay healthy. This includes standard care such as teeth cleaning, annual checkups, and vaccinations. This type of dog insurance offers the most economical coverage.

Chronic Condition coverage helps dog owners when their pets develop such long-term conditions as diabetes or osteoarthritis. The coverage amount depends on the insurer, and the insurance firm may even place limits on the payout amounts.

Genetic Condition coverage is only provided through a few, dog insurance firms. It is extremely expensive, and it covers a broad spectrum of genetic conditions that may affect dogs.

Now that you know more about dog insurance coverage, you should be able to choose the right plan for your favorite canine.