Do You Really Need Dog Health Insurance?

Do You Really Need Dog Health Insurance?

More and more people are buying insurance plans for their dogs, with 2.43 million more cats and dogs being insured in 2018 compared to 2017, marking a 17% increase. But is it worth it? Here’s what you need to know.

Types of Plans

1. Accidents-Only

This plan is often the cheapest and covers indoor and outdoor accidents. Policies differ based on whether illnesses caused by accidents are covered.

2. Time-Limited

This type of plan covers illnesses and accidents, with the condition that there is a time limit – usually 12 months – on the plan, making it unfavorable for long-term diseases.

3. Maximum Benefit

This type of plan covers illnesses and accidents, with a condition that there is a funds limit per condition. It is more expensive than the previous two options.

4. Lifelong Dog Health Insurance

This is the most expensive plan but provides the most security, with renewable policies each year that cover all sorts of vet fees.

Factors That Determine Cost

  • Age; the older, the more expensive
  • Breed; the generally healthier, the less expensive
  • Gender; the breed determines with gender has a higher illness risk
  • Spaying or neutering; completed sterilization leads to cheaper plans
  • Location; city dogs are often charged more
  • Pre-existing and genetic conditions; these will increase the cost
  • Lifestyle; the healthier and safer the lifestyle, the less expensive
  • Previous health issues, these will increase the cost

Advantages

  • Peace of mind for accident coverage
  • Assistance in regular medical fees
  • Insured pets are often better cared for
  • Many plans are low-cost

Disadvantages

  • High-priced plans may still never be used
  • Most plans reimburse you after you pay first
  • Some insurance companies will try to trick you
  • Some insurance companies will find loopholes to avoid payment

Feature Image Source: Pixabay

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