One glance down the pet-supplies aisle and it’s clear — we love our four-legged friends.
As the cost of medical procedures and treatments for animals has risen in recent years, companies offering pet insurance plans have proliferated. In 2009, just under 1 million such policies were available.
We asked veterinarians to share their thoughts about pet insurance, as well as their insider tips on how to keep down the costs of basic care.
Aid for major injuries
“Pet insurance has become more popular as the cost of major work in animals has skyrocketed,” Alexandria, Va., veterinarian Jackie Suarez said. “It seems to pay off with major injuries.”
Sarah Bowman, a veterinarian at CityPaws Animal Hospital in Washington, estimates that in most cases, owners with healthy pets will break even on insurance.
“You spend $300 a year on the plan, and you probably get that back,” she said. Most plans reimburse owners for expenses that are paid up front. Before signing up, you should know:
● How you’ll be covered: Some policies determine coverage by geography; others base coverage on your pet’s breed and age. Enter your address and pet’s information on each provider’s website to shop for quotes, and follow up by talking to your veterinarian. Bowman suggests VPI Pet Insurance, the largest and oldest provider, for its variety of plan options. Trupanion, Petco’s recommended provider, allows consumers to choose a deductible between $50 and $1,000.
● Plan changes as your pet ages: Look for plans that offer age-specific treatments (such as teeth cleaning) to make sure it adapts to your pet’s needs.
● Which plan is best for your breed: Policies can exclude conditions based on breed. Some plans will not cover hip problems in golden retrievers or German shepherds. And the bigger the dog, the higher the costs, Bowman said.
Long-term savings
Preventive care might seem expensive, but it will cost less than fixing a problem. Bowman notes that treating a pet for heartworm can cost $500 to $600, whereas six months of preventive treatment costs about $50 to $60.
Having your pet spayed or neutered can lead to significant cost-savings during your pet’s lifetime.
Like their people, pets need regular preventive care. Keeping them at a healthy body weight will ward off problems such as arthritis, while treating for fleas can help prevent skin infections.
Low-cost care options, particularly rabies vaccinations, are available at most local animal shelters or Humane Society facilities.
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