Pet Health Insurance...A Good Idea?

According to the December, 2009 edition of Veterinary Practice News, more than nine out of 10 (94%) pet owners know that pet insurance exists but are likely to avoid buying plans because of cost concerns. An online survey conducted by the marketing firm LePoideven Rickinger Group, polled 800 veterinary professionals and 4,600 pet owners to determine their awareness of pet insurance.

One of the most significant findings was the relatively high number of veterinarians who had no opinion (or a low opinion) of the facts of pet insurance (40% of veterinarians surveyed do not recommend pet health insurance). Pet health insurance has gained popularity over the last few years, but it's still fairly uncommon and somewhat controversial.

Those who endorse pet insurance see it as a way to help save a pet's life by allowing the owner to avoid decisions based solely on "economic euthanasia." This sounds appealing, but there are also people who worry that the proliferation of pet health insurance would change veterinary medicine (and NOT for the better). Many  worry that health insurance would make veterinary costs sky-high and become out of control (just as in human medicine). Also, veterinarians worry about these insurance companies dictating for them what treatments they can provide for their patients.

I can see both sides of the pet health insurance debate. What about you? Do any of you have pet health insurance and if so, what are your opinions and experiences? Would you recommend it to other pet owners? What do you think?

--Dana

Comments

[Chris]

I'm not surprised at the survey results, the current health insurance system sucks so bad that it has taken an act of congress to "fix" it.

I certainly don't wish to see pet health insurance go that route. One of the great things about going to the vet is that there is no middleman meddling in my pets care.

We have insurance for one of our dogs, I thought it was a bit silly to buy as I feel we could afford virtually any procedure our dog might need. But in the few years we have had it it has paid us back way more than we have paid in premiums.

[Dana]

Hi Chris, thanks for your comment. I'm glad to hear that you're getting your money's worth on the insurance!

[Samantha James]

I actually recently got pet insurance about 6 months ago and I am really lucky that I did because literally two months after signing up my boxer broke her arm! With the insurance reimbursing me 90% definitely helped me in the end and I really think that people should definitely take a look into different companies insurance policies because they can be pretty affordable and worth your money! The reason why I chose to get pet insurance in the first place was because my friend's dog had cancer (sorry I dont remember the name of it) and I had no idea dogs could even get cancer! The treatment cost a fortune, I mean in the thousands and in the end, unfortunately she died. I knew that I would do the exact same thing, the only problem is that I would not be able to afford it so thats when I decided to look into getting pet insurance and I am really glad that I did!

[Laurel Hunt]

Losing two dogs to cancer taught me the value of pet health insurance. Like Samantha above, I had no idea pets got cancer and certainly no idea there was pet health insurance, until the vet asked me if I had it. After their loss I bought policies, including cancer coverage, for my next dogs. When they also developed cancer I did not have to worry about affording the treatment. We all want the best for our pets but that comes with a cost in the high-tech veterinary care available now. My experience with pet health insurance has been very positive. It certainly pays for itself and the vets I've used have been very supportive of it.
Laurel H, celebrating the love of dogs at http://laurelhuntbooks.com