Pet Insurance: Some Points To Consider

Vet bills can be expensive, so to help defray some of the cost pet insurance has become an option for some pet owners.  There are several companies that offer a wide range of plans with costs ranging from $20-$80 and up per month.

If you’re thinking about signing up for pet insurance, here are a few things to consider:

• Some companies require policyholders to pay vet charges up front then require filing of reimbursement forms
• Pre-existing conditions such as diabetes or hip dysplasia are not covered by some plans
•  If your pet develops a chronic condition while covered, premiums may increase or the company may drop your pet’s coverage altogether unless the policy specifically states coverage will continue
• Plans can be age sensitive, and as a result a senior pet may not be eligible for coverage

If you’re not sure that pet insurance is the right option for your pet, there are ways to keep costs down and still provide your pet care when he needs it. One option I’ve used several times is CareCredit.

CareCredit has a network of veterinarians, and if your vet belongs to the network, you can show your CareCredit card when services are provided for your pet and you are given a period of time to make monthly payments interest-free.  The network also includes dentists and optometrists to name a few.  For more information, check out carecredit.com.

If you like the idea of pet insurance but aren’t sure about taking on the additional cost of monthly premiums, consider a policy with a higher deductible to keep monthly premium costs down.  This will provide coverage in the case of a major injury and not put such a strain on the monthly budget.