Pet care costs are growing rapidly while the offer is becoming more diversified and includes services such as kidney dialysis, chemotherapy or ultrasound for your cats or dogs. In 2009, American pet owners spent more than $12 billion on veterinary services. However, only 1% of pet owners in the US have health insurance for their animals. Even people who have insurance are not very well informed about what is and what is not included in their pet insurance.
Pet insurers will be required to provide detailed information about their services under federal laws currently under review. Democratic state Assemblyman Dave Jones is the first to address the issues related to such reform, pushing a bill that has already passed the state Assembly and Senate insurance committees. The bill will add pet insurance to the state’s insurance code.
Because there is so much variety in pet insurance offered by companies, confusion is widespread among policyholders.
Unfortunately, all too often, vet charges are much more than insurance companies are willing to cover. Most states include pet insurance under the category of property or casualty insurance. Proponents of the new bill want to make it a separate coverage area.
Pre-existing conditions are one of the most frequent problems for pet insurance owners. Companies refuse to renew policies or cover expenses for health problems that are categorized as pre-existing. Insurance companies defend their position by stating that pet owners do not buy insurance before their pets get sick. On the other hand, most websites owned by insurance companies do not offer enough information for the consumer to compare options and make an informed decision.
Pre-existing conditions are also considered exclusion grounds with human health insurance. Hereditary conditions are covered by some types of policies, however, at a very low level. Congenital problems are treated as pre-existing conditions and are not covered. They include entropion, ectropion, hepatic shunt, or patellar dislocation.
The use of preventive medications for fleas, ticks and other parasites is not covered by most policies; however, some policies offer benefits for preventive medications. Pet insurance covers dental care needed after accidents or injuries, but not preventive care, such as teeth cleaning.
Certain breeds of dogs are classified as high-risk by insurance companies, making it difficult to qualify for an insurance policy if your dog is considered more dangerous. The definition of a high-risk breed differs from insurance company to insurance company, but Rottweilers, German Shepherds, Pit Bulls, and Doberman Pincers are the breeds most likely to be considered high-risk.
If you haven’t chosen an insurance plan for your pet, start by checking to see if your veterinarian is a provider of the pet insurance you’re looking for.
Pets that come from animal shelters are favored when it comes to getting insurance for them. There aren’t enough options right now for pet insurance, but reform in this area could clear things up and make it easier for owners to care for their pets.
