Pet Insurance


Many of us are pet owners, yet few of us have pet insurance. Are we overlooking an important way to protect both our pets and our assets?

According to most experts, the answer is not black and white. First, consider what sort of pet guardian you are: would you do anything to save or prolong the life of your pet should it become ill or suffer an accident? If yes, read on.

Treatments and diagnostic tools that used to be available only for humans are increasingly available for pets. These treatments, ranging from radiation therapy to organ transplants, can save the life of your pet, and they can cost you somewhere between $1,000 to more than $5,000. Sophisticated diagnostics, such as MRIs, can likewise reveal the source of a problem, but come with a high price tag.

If you can imagine your pet undergoing such procedures, you may be a good candidate for pet insurance. But make sure you are well-informed before-hand about what the insurance would and would not cover.

For example, like most health care policies for people, pet insurance usually comes with a deductible. It also usually excludes treatment for "pre-existing conditions," problems that are typically found in certain breeds. And, like people coverage, the older the candidate, the higher the premiums.

Weigh all these factors when deciding whether or not pet insurance is for you. With pet insurance, as with all insurance, you are buying peace of mind, and only you can know for sure what that is worth.