With the boom in pet care services and veterinary specialists, as well as advances in veterinary techniques in recent years, animals are undergoing more extensive and costly procedures to fix what ails them. That’s driving more owners to invest in pet insurance. A 2002 study of pet owners using AAHA hospitals found that one in 20 now carries pet health insurance, five times 1997’s figure.
Unfortunately, pet insurance woes can be similar to human insurance woes. Premiums can run as high as $6,000 over a pet’s lifetime, according to Consumer Reports, and preexisting conditions such as epilepsy or untreated hip dysplasia can disqualify your pet. If Sparky does qualify for a basic plan, reimbursements can be paltry, like a mere $10 per checkup.
If you shop well, however, insurance can sometimes be worthwhile. Emergency or surgery insurance plans cover large expenses for minimal premiums — often less than $10 a month, which isn’t bad when you consider that procedures for accidents or cancer treatment can easily run north of $3,000. Premier Pet Insurance (www.ppins.com) and Petshealth Care Plan (www.petshealthplan.com) offer low-cost programs that cover up to $8,000 a year in emergency care. Pet Assure (www.petassure.com) costs $99 a year per dog and $59 per cat and offers 25 percent off the cost of major surgeries and other pet services at thousands of vet offices nationwide. Even without insurance, though, you may have recourse for big-ticket expenses. Many vets, if you ask, will negotiate weekly or monthly payment plansRead more: 10 Things the Pet Industry Won’t Tell You – Spending – Rip-offs – SmartMoney.com http://www.smartmoney.com/spending/rip-offs/10-things-the-pet-industry-wont-tell-you-15204/#ixzz0qMc3HmZV