I received this information in an e-mail today. I appreciate the fact that pet insurance companies have a database of information that allows them to search for statistics such as this. This information can be helpful to pet owners who are contemplating whether to get pet insurance.
Nation’s Largest Pet Insurer Reveals Most Common $1,000+ Claims
Brea, Calif. (June 28, 2011) — Few pet owners imagine they will ever have to spend more than $1,000 for treatment of a single pet health incident or condition. Unfortunately, data from Veterinary Pet Insurance Co. (VPI), the nation’s oldest and largest provider of pet health insurance, reveals that $1,000 veterinary bills may be more common than expected.
In 2010, VPI policyholders submitted nearly 14,000 claims with an average treatment cost exceeding $1,000. VPI analyzed its database to find that the majority of its most expensive claims were the result of just 10 conditions. Following are the top 10 conditions—ranked by frequency—to cost pet owners more than $1,000 in 2010:
|
Condition |
Number of Claims |
Average Cost per Claim |
|
|
1. |
Torn Knee Ligament/Cartilage |
6,831 |
$1,578 |
|
2. |
Intestinal - Foreign Object |
1,005 |
$1,967 |
|
3. |
Stomach - Foreign Object |
954 |
$1,502 |
|
4. |
Intervertebral Disc Disease |
879 |
$3,282 |
|
5. |
Stomach Torsion/Bloat |
372 |
$2,509 |
|
6. |
Broken Leg (Plate) |
350 |
$1,586 |
|
7. |
Laryngeal Paralysis |
126 |
$2,042 |
|
8. |
Tumor of the Throat |
124 |
$1,677 |
|
9. |
Ear Canal Surgery -Ablation |
104 |
$1,285 |
|
10. |
Ruptured Bile Duct |
102 |
$2,245 |
While surgical treatment for a torn knee ligament/cartilage occurred with the greatest frequency, the condition with the highest average cost per claim was intervertebral disc disease, for which pet owners paid an average of $3,282 in 2010. According to DVM Newsmagazine’s 2009 State of the Profession survey, veterinarians estimate the average dollar amount at which most clients would opt to stop treatment of a sick or injured animal at $1,451. Of the top 10 most common costly claims, only ear canal surgery falls beneath the average survey limit, thus illustrating the value of pet health insurance as a way to manage unexpected pet health expenses.
“Pet owners should be aware that these $1,000 accidents and illnesses can happen to just about any pet—indoor, outdoor, young or old,” said Dr. Carol McConnell, vice president and chief veterinary medical officer for VPI. “Though the cost of care for these conditions may be high, the prognosis is usually positive, and many of the pets that are treated will recover.”