People love their pets, but admittedly, they can cost pet parents a lot of money. According to the American Pet Products Association (APPA), people in the United States spent more than $60 billion dollars on their furry friends in 2015, up $2 billion from the previous year. About 80 million households have pets, with dogs making up the majority of furry friends: more than 54 million. The APPA estimates the average American family spends more than $1,600 on a dog’s vet bills and more than $1,100 on kitty health.
According to an article on TheSimpleDollar.com, which references the APPA report, “the costs of veterinary care have risen faster than inflation.” Between medical exams/wellness care, vaccinations, dental procedures, and operations (including spay/neuter), pet health care, like people health care, is a significant expense. Pet insurance may help.
There are several national pet insurance carriers, including the ASPCA (American Society for the Prevention of Cruelty to Animals), Nationwide, Trupanion, PetFirst, HealthyPaws, and PetsBest. Deductibles vary, and some plans reimburse 70 to 90 percent of a veterinary bill. Plan costs vary, depending upon the deductible, coverage, type and age of pet.
But, how does one choose a plan and a company? Luckily for pet parents, some of the research has already been done. Consumer Advocate, for example, ranks companies based on reviews. A person can select their state to see if coverage is available.The Canine Journal has also reviewed and ranked pet insurance companies.
Additionally, The Simple Dollar recently released a guide on pet insurance companies. The author of the report used his own pets as examples in comparing companies and plans.
I’ve never carried health insurance on my pets, but I’ve often considered it. A friend of mine, however, does pay for pet insurance, and she believes having such coverage is a great benefit. She is an individual on a fixed income due to a disability. My friend had a cat who lived to be nearly 17 years of age; that cat became diabetic at about age 12. The added expense of insulin was covered on her pet insurance plan, and as the cat grew older and more health problems developed, she found having pet health insurance a wonderful asset. So, for those of us who don’t carry pet insurance, it may be something to consider. Having resources such as that provided by The Simple Dollar, The Canine Journal, and Consumer Advocate can help pet parents review plans and premiums and decide if pet insurance is something to expend money on.
To insure or not insure is a question to consider no matter what type or age of pet you have.
Gayle M. Irwin is a writer and public relations professional who volunteers with various animal rescue groups. She enjoys sharing her books and her passion for pets and the environment with others.