PET INSURANCE
(Our Recommendation is Trupanion)
History & Overview:
Pet insurance (medical insurance for pets) is nothing new. It has been around in America for a long time – at least 40 years. It has been ignored and poorly/uncommonly used. Very few pet owners were even aware of its existence.
What is very much new, especially in the last few years, is the new appetite and acceptance in this country, even demand, for pet insurance. And along with this has come more and better pet insurance companies and better insurance coverage and programs.
At the present time, about 1% of America’s
pet owners currently use pet insurance.
European pet insurance has endured longer, with much deeper market penetration. See the numbers below depicting the percentage of pet owners using pet insurance:
- France 22%
- Germany 33%
- Italy 27%
- Spain 27%
- United Kingdom 42%
The choice of whether or not to carry pet insurance is up to you. It is a decision you must make for yourself. It is true, however, that Americans today are increasingly choosing and signing up for pet insurance.
Veterinarians are not involved in the purchase and administration of pet insurance. The contract is between the pet owner and the insurance company.
Some veterinarians are adverse to pet insurance because of the uncompensated time burden it places on their shoulders of veterinarians.
Advantages To Insuring Your Pet:
- ability to provide your pet with proper medical care when needed
- ability to finance an unforeseen and large/difficult medical/surgical problem
- if you are away & your pet is cared for by others, you know your pet will receive veterinary care
Our opinion & recommendation on selection of a pet insurance policy:
- select a plan which only covers for sickness & injury ( ‘accident & illness’) (best financial value)
- select a plan which does not pay for routine vaccinations, wellness, & preventive care (too expensive)
- select a plan with no life time financial limit (best deal)
Currently about 12 pet insurance companies in America
Be sure to look at a number of different plans
If you do decide to carry pet insurance for your pet, you must do your own research. You can easily use the internet
to research the companies. This is not difficult to do. Look at each companie. Compare them. See what makes sense for you.
Advantages (2) to starting pet insurance at the time you obtain a kitten or puppy:
#1 insurance at this time is the least expensive
#2 no excluded pre conditions (most important)
We think Trupanion offers you the best value: (3 reasons)
1. no wellness insurance (a good thing)
2. only accident & illness coverage (only way to go)
3. unlimited coverage – no lifetime limit (the only company to offer this)