Many people consider pets to be part of the family, but keeping them healthy isn’t always affordable. Cindy Daughters knows that all too well. Her staghound, Custo, was in a car accident and had a stroke. His veterinarian bills are now approaching $6,000.
“If I can do whatever I can for him, then I’ll spend it,” Daughters said. “Do I wish I had pet insurance? Yes.”
Major advances in veterinary medicine can save our pets lives and improve their quality of life. But it can get expensive. And most people still don’t have pet insurance.
Veterinarian Dr. Anthony Ishak of Blue Pearl Vet Hospital says it’s a safe bet.
“It’s always better to have it and not need it, than vice versa,” Ishak said. “You much more regret needing pet insurance and not having it than vice versa.”
There are two kinds of pet insurance coverage. The first, accident and illness, deals with major emergencies or problems like cancer. The second, a wellness plan, will help cover vaccinations and checkups.
The monthly premium depends on the type of coverage you get and your pet’s breed and age.
Generally, look to pay about $20 - $30 a month, with a yearly deductible ranging from about $50 to $200.
And beware: Most pet insurance policies won’t cover pre-existing conditions.
“So it’s not like you can wait for your pet to get sick and then decide it’s time to get insurance and still have them cover that event,” Ishak said.
Where do most pet owners draw the line when it comes to paying for medical treatment for their pet? An AP-Petside poll found that regardless of income, 68 percent of pet owners would pay a $1,000 to save their pet’s life. Only 22 percent said they’d spend more than $5,000. Beyond that, many elect for euthanasia.