Many dog owners feel desperate when their beloved fur babies develop a chronic illness that requires a treatment they can not afford. When surgery costs thousands of dollars, some pet parents helplessly watch their dog suffer in agonizing pain, then travel to the rainbow bridge. In these heartbreaking situations, having pet insurance is a lifesaver.
What are the types of pet insurance policies?
An increasing number of pet insurance companies are marketing various plans that offer different coverage. Depending on current circumstances such as your dog’s age, breed, and health condition, you’ll need to shop around to find the right policy that will match your pet’s needs. You also need to consider your dog’s previous medical issues as well as your financial resources. The primary categories of insurance plans are the following:
Lifetime
This is the most expensive insurance policy as it caters to ongoing conditions throughout your pet’s life. It offers continuous coverage against illnesses, accidental injuries, and conditions as long as you renew your policy every year. While this plan can be extremely pricey, it gives you peace of mind that your dog will be covered even when he develops a long-term illness.
Canine diabetes, for example, will require you to pay a hefty cost for a series of tests, veterinary monitoring, and hospitalization. Plus, it requires a lifetime treatment that includes daily insulin injections, supplies, prescription pet foods, and maintenance visits to the vet. Most owners of uninsured diabetic pets are likely to pay an average of $100-$200 per month.
Time-limited
This insurance plan is also called “12 months” or annual policy. It covers eligible conditions for one year but with a financial cap. This means there are no further payouts if you already reached the monetary limit or if 12 months from the date of diagnosis or injury has lapsed. This policy might not be suitable for older animals, as they are more susceptible to developing various medical issues. However, this can be a good option for short term health problems and accidents.
Accident only
This is the least expensive policy that provides primary coverage on injuries that are caused by accidents.
Maximum benefit
This is a mid-range option that has no time limit, but it comes with a maximum benefit allowance per condition. You can claim more than once for a specific illness or injury as long as you do not reach the financial limit. When you’ve used up your allowance, the condition becomes pre-existing, and you can no longer make future claims.
With the advancement in veterinary science, many health conditions that were once hopeless are now treatable- but costly. You are not gifted with a crystal ball, so there’s no way you can predict your dog’s future. While you can opt to save funds, it might not be enough to cover treatment for severe accidental injuries and long-term medical conditions. With the right insurance, you can protect your beloved pet from unforeseen illnesses or injuries without breaking your savings.
Getting your dog insured is a personal decision. Some people would say it’s a waste of money when the future is kind, and you are not able to use the insurance. But when it comes to someone whom you genuinely love and cherish like your Fido, are you willing to take a chance?
Photo by Oleg Danylenko on Unsplash