Your Pet Insurance Guide

Financial Experts Often Advise Not To Buy Pet Insurance - Why This Veterinarian Disagrees

One of the most frequently asked questions about pet insurance is "Is it worth getting for my pet?" I'm actually surprised by how many consumer advocacy groups1 and financial experts tend to look at pet insurance like it is an "investment." They should know better. Here's their logic. Most people who purchase pet insurance, or any insurance for that matter, won't get back more than they pay in premiums. That's true; otherwise insurance companies couldn't continue to operate. Therefore, they recommend starting a savings account to pay for your pet's healthcare expenses instead of buying pet insurance. However, some people... Read more →

How To Make Pet Insurance Affordable For You And Your Pet

I had two clients in the past week bring up pet insurance when we were discussing a medical workup to diagnose and treat their seriously ill pets. Let's face it, when a pet gets a serious / major illness, it can potentially cost thousands of dollars to figure out what's wrong and then treat it - hopefully with a good outcome. These are the two statements I heard: "I had pet insurance for both my dogs for several years, but the premium got so high that I had to drop it, so I don't have coverage anymore to help with... Read more →

Why I Investigated Pet Insurance Again

I've invited Sara, a reader of my blog, to share a guest post with you today. She will share her story about why she decided to research pet insurance companies again after having a policy with the same company for 14 years. The insights she shares are valuable whether you are considering pet insurance for the first time or considering switching companies. Some of you may have looked at pet insurance for your pet several years ago, but like Sara, you aren't aware of all the various companies and options available today. I hope after reading her story, you'll have... Read more →

Don't Overlook This Reason That Pet Insurance Claims Are Denied

So, you purchase pet insurance, visit your vet and pay your bill, file a claim for a covered expense with the pet insurance company, but reimbursement for the claim is denied. The reason - you didn't file the claim within the alloted time frame specified in the policy. Most pet insurance policies require you to file a claim within 90 or 180 days, and if you fail to do so, technically they can deny reimbursement - even for a covered expense. I've read about instances where this has happened. I've also heard from at least one pet owner whose company... Read more →

5 Key Points To Consider When Purchasing Pet Insurance

This article highlights several key points when considering the purchase of pet insurance: 1) Buy early before your pet is diagnosed with conditions that will be considered pre-existing. 2) Be diligent doing research on all the companies before you buy so you won't later regret your choice of company and/or policy to insure your pet. 3) Unexpected veterinary bills can sometimes be expensive, but $46,000 is the highest I've heard of to date. 4) Reading reviews is an important part of doing your research, but isn't the only thing you need to do before purchasing a policy. I outline 5... Read more →

Is Pet Insurance Worth Purchasing For Your Pet?

Following up on the theme of the last post, I found an article where someone had "crunched" the numbers and decided that pet insurance would be a bad deal for him and his pets. Of course, he was doing a "hindsight" evaluation. If some of you did a similar evaluation, you might reach the same conclusion that Bob did. That is, you would have paid more in insurance premiums than you would have been reimbursed by the insurance company. But some of you, after doing a similar evaluation, could say "I would have come out way ahead if I'd had... Read more →

What Is Pet Insurance?

I came across an article in a newspaper with the same title and my first thought was "This person gets it!" You'll see why I say that after reading this post. Here are a few excerpts and my comments: Consumers take out insurance to transfer the risk of something happening to the insurer. For a fee, the insurer then agrees to pay the cost of certain events, giving the consumer peace of mind. Pet insurance, as the name suggests, is simply another form of consumer insurance, which pet owners take out to protect their animals. Listen to this conversation I... Read more →

Guidelines For Custom Designing Your Pet Insurance Policy

Most of the pet insurance companies now allow you to customize your policy by selecting among several different annual maximums, deductibles and copays. When you go to a companies quote page, they will often show you about 3 options including their most popular option. The also offer you the ability to customize your coverage. Here is an example from Embrace: Here's an example from Healthy Paws: You'll need to click on the "Customize Rate" link to see other options: Some pet insurance companies also offer optional coverages e.g. exam fees or alternative therapy (rehab, acupuncture, laser therapy, hydrotherapy, etc.), or... Read more →

The Dilemma: Should I Purchase Pet Insurance?

I came across an article describing one family's journey when deciding whether or not to purchase pet insurance for their pets. One reason I think it is worth reading is that it talks about many of the objections that some people have to pet insurance. First of all, rather than purchasing pet insurance, they decided to open a savings account to pay for their pet's healthcare expenses. They quickly learned that while this strategy works great if your pet remains relatively healthy, it has serious shortcomings if your pet experiences one or more serious accidents and illnesses. Because they had... Read more →

Why You Should Consider Pet Insurance For Your Pet

Two pet owners tell the story of their pet's illness in these videos. Listen closely to the reasons they give for having pet insurance. Interestingly, one of them didn't have pet insurance when her dog required two surgeries to save her life, but because of the expense of these procedures, she is a strong advocate of pet insurance now. Since one of these problems is considered by many pet insurance companies to be a congenital/hereditary problem, it's important go get a policy that covers these conditions. These videos are sponsored by a Canadian pet insurance company. As the readers of... Read more →

5 Pets Who Benefited From Pet Insurance

I've always maintained that a good pet insurance policy chosen wisely is a win - win - win proposition. I believe that the pet owner, their beloved pet, and yes, even veterinarians can benefit from pet insurance. Pet's lives are saved. Pet owners don't have to face that hard decision when their pet is seriously injured or ill and they don't have the money to pay for the necessary treatment. And yes, it does often allow veterinarians to offer and provide the best options for diagnosis, treatment and recovery. I came across this article that tells the stories of 5... Read more →

Pet Insurance For Adopted Rescue Pets

Today’s article is a guest post by Donna Baker, the Education and Community Awareness Manager for the Delaware Valley Golden Retriever Rescue (DVGRR). She is a subscriber to my blog and has adopted several older Golden Retrievers who were surrendered to their organization. She shares why she ultimately decided to purchase pet insurance and why she enthusiastically recommends pet insurance to all the new owners of pets adopted from DVGRR. With the continued economic downturn, DVGRR (like many other rescue groups) has seen an increase in dogs surrendered because they developed an expensive medical problem that their original families couldn’t... Read more →

Another Reason Why Pet Insurance Premiums Rise

I received an email recently from Dr. Jules Benson at Petplan in response to a question I’d asked him. Included in the email was a bit of information that I’d certainly not thought of before and perhaps you haven’t either. We normally think of pet insurance premiums increasing due to several factors e.g. changing underwriters, a pet’s age, adjustments due to actuarial data and “veterinary inflation.” Veterinary inflation is generally defined as the amount a practice raises it’s fees from one year to the next to cover increases in overhead whether that be the cost of drugs, staff salaries, equipment,... Read more →

If You Have Pet Insurance - You Should Be Conducting An Annual Pet Insurance Checkup

Pet insurance companies frequently make changes to their existing policies or even decide to offer new policies. They usually do so because they change underwriters, in response to surveys of existing policyholders, or simply in an effort to keep up with their competition. There is also an emerging trend allowing pet owners to customize their policies by choosing from a range of deductibles and coinsurance options. Your pet insurance premium can also change when a company changes underwriters. Premiums will go up as the costs of providing veterinary care rises. Companies may also adjust their premiums periodically based on their... Read more →

Interview on Tripawds Radio Show

I was recently interviewed about pet insurance on the Tripawds Radio Show. This show and their website is dedicated to helping pet owners with pets who've had a limb amputated. The host of the show, Rene Agredano and her husband Jim, lost "Jerry" to bone cancer several years ago and it literally changed their lives. I'll have more about that in the next post. I hope you enjoy the interview. Rene asked some great questions. Listen to internet radio with tripawds on Blog Talk Radio Read more →

Young Pets Need Pet Insurance Too!

Many young people don't think they need health insurance because they are healthy. I've seen the same reasoning applied to young pets. However, young people and pets do get sick with illnesses and probably the most common cause of hospital visits for younger people and pets is accidents. To illustrate this point, I am going to post a testimonial about Trupanion pet insurance, however, this isn't an endorsement of Trupanion. If you read this blog, you know I don't recommend one pet insuance company over any others, but my focus is to provide information to help you make informed and... Read more →

How To Evaluate A Pet Insurance Policy

Hi, everyone. I just uploaded my latest video to my YouTube channel. Although a Pets Best policy is used in this video, the principles can be applied to any pet insurance company's policy. In every pet insurance policy regardless of the company, you'll find several things that you'll want to call the company for further explanation. Read more →

Pet Insurance Can Make Financial Decisions Easier In Pets With A Serious Illness Or Injury

I ran across this article about several cases where pet insurance did or would have made a difference in either these pet's lives and/or their owners pocketbook. As the article mentions, there have been a number of new companies enter the market in the past seven years and many of the objections that pet owners had for not getting pet insurance for their pet no longer apply. Many of the companies now cover chronic and hereditary conditions, and as you can see from the article, the reimbursements can be significant. I wrote a blog post recently about the best way... Read more →

The Best Way To Obtain A Quote For Pet Insurance

After answering the question, “Should I purchase pet insurance,” the next question pet owners wrestle with is, “Which company and which policy is the best one for my pet?” I frequently see this question asked on pet forums. Some of the answers given are good advice and some are bad advice. The better question would be, “How do I go about determining which company and policy is best for my pet?” The first step in answering this question is to obtain a quote from every company that sells pet insurance in the U.S. There are about a dozen companies that... Read more →

Insight Into How Pet Insurance Companies Set Premiums

This is an interesting article because it gives us some insight into how pet insurance companies use actuarial data when setting premiums for their policies. I don't actually know a lot about it, but when I've asked questions of pet insurance company representatives about their company's actuarial data, they are usually very secretive when it comes to discussing specifics. In fact, companies use this data to adjust premiums from time to time. If you receive a notice that your premium is going up or down, this is probably the reason. I've read in the past year that some pet owners... Read more →

Factors That Affect The Cost of Pet Insurance

Pet insurance premiums are what many pet owners focus on when investigating whether to purchase pet insurance for their pet. There are many factors that affect the cost of pet health insurance. 1) Geographic location Where you live affects the premium you will pay to insure your pet. For example, pet insurance premiums are generally higher in California than in Tennessee because veterinary fees are higher in California than Tennessee. 2) The breed of your pet Certain breeds of dogs or cats are known to have more health problems than other breeds, so the pet insurance company calculates this factor... Read more →

How to Handle Pet Insurance in a Divorce

I have to admit that this is something that has never crossed my mind. Perhaps it's because I've been happily married for 37 years! Thanks, Cindy. But, apparently it's not that uncommon of a problem for insurance companies and pet owners to have to deal with. This is particularly important because one reason that claims are denied sometimes is because of a lapse in coverage that the pet owner wasn't aware of. I came across this excellent and detailed blog post by Laura Bennett, the CEO of Embrace Pet Insurance Company, that pet owners whose pets are covered by pet... Read more →

Switching Pet Insurance Companies In Midstream - Part 2

Merrick, thanks again so much for sharing your story with the readers! If you read my previous blog post, "Switching Pet Insurance Companies In Midstream," then you know what I went through in order to determine which pet health insurance company I felt was best for my 10yo dog, Frida. In this “Part 2,” I want to share with you the process I undertook to make sure, in advance, that I wouldn't get surprises after I had signed up. I asked for an Underwriter's Review or Medical Records Review. This is something that the pet insurance companies don't always offer... Read more →

Switching Pet Insurance Companies In Midstream

This is the second installment of guest posts by readers of this blog detailing their journey of researching and finding a pet insurance company and policy for their pet. In this story, Merrick decided to switch companies when his dog was 10 years old. This can present some challenges especially when considering the presence of pre-existing conditions. I greatly appreciated his willingness to share his thoughts during the research process and even now. The opinions expressed in this blog post are those of the author. Every pet owner's situation is different and may have differing opinions and/or reach different conclusions.... Read more →

Top 10 Most Expensive Pet Health Conditions

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... Read more →

A Dog Day Afternoon - Pursuing Pet Insurance

I am so grateful that a reader of this blog has agreed to write a couple of guest posts about her experiences in selecting a pet insurance company and policy for her pet. I hope that it will be an encouragement to everyone else who reads it. By Desiree Nascimento In October 2009 I took on the task of purchasing pet insurance for my seven year old Kerry Blue Terrier. As I conducted research over a two month period I found the variables of pet insurance vast, the comparisons between companies confusing, and the task daunting. Yet I tackled it... Read more →

Pet Owner's Opinions About Pet Insurance

I really hesitated to even bring this article and all the comments that follow it up for you to read or discuss, but it runs the gamut of pet owner's opinions about pet insurance. Since I visit pet forums frequently, I've seen all this before, but it might be interesting reading for some of you. Some pet owners point out in the comments what I will say below, but you'll find that some people think that all insurance is a scam, especially pet insurance. Granted, the customer service by this company left a lot to be desired, but as is... Read more →

Pet Insurance For The Accident Prone

I ran across this article today giving some statistics about breeds that seem to naturally be accident prone and warrant emergency visits to the veterinarian. One thing to note from this article is that these visits can be quite costly. Read more →

Pet Insurance Can Come In Handy For Older Pets

The title and content of this article reminded me of something that I often tell clients when discussing a diagnostic or treatment plan for their older pet. Pet owners of older pets tend to think that because their pet is older and has a serious condition that it isn't worth pursuing treatment. What they don't understand is that every pet as they get older will eventually develop a chronic disease (just as humans do). This chronic disease can often be treated alleviating the symptoms and giving the pet several more years of a relatively good quality of life. But, it... Read more →

Pet Insurance Claims for Cancer Treatment

Today, I'm writing a teaching post. I am including a couple of claims from Embrace for the diagnosis and treatment of cancer. Although we think of cancer as being primarily a problem in older pets, notice that both of these pets were young. The thing I appreciate about these examples is that Embrace gave detailed information about the claim and how much the pet owner was reimbursed. The first claim was on Maggie, a 2 year old Dachshund with a rectal tumor. The second claim was on Coney, a 3 year old cat with lymphoma. Both pets are doing well... Read more →

Healthy Paws Comes Through With Claim Reimbursement

Here's a story about Bu's patellar luxation and how having pet insurance with Healthy Paws helped pay for the surgery. It seems that a day at the park aggrevated Bu's patellar luxation. What makes this significant is that Healthy Paws is one of several companies that now cover hereditary and/or congenital conditions. Some companies catagorize patellar (kneecap) luxation as either hereditary or congenital and don't cover it. This brings up once again the importance of getting a policy that does cover hereditary/congenital conditions and preferably from a company that offers more than token coverage. With most companies, the policy must... Read more →

A Recommendation In Favor Of Pet Insurance

I'll let this letter speak for itself. Read more →

Pet Insurance Comes In Handy

I came across a video blog that summarizes many of the points you should consider when deciding whether to get pet insurance for your pet and also how to decide on a company and and policy for your pet. I don't think the intent of this video was necessarily to recommend Trupanion because they didn't look at all the companies that offer pet insurance in the U.S. I think the main take away from this video is to show the importance of getting unrestricted coverage for hereditary conditions. Getting this coverage didn't cost any more in monthly premiums, and paid... Read more →

Top 10 Reasons Pet Owners Take Their Pet To The Veterinarian

The top 3 reasons that pets are taken to the veterinarian according to claims submitted by VPI pet insurance company are often related to the same underlying problem. They are: Ear infection Skin allergy Skin infection/hot spot "I can't imagine how my pet got an ear infection!" is a comment I hear from pet owners. An acute ear infection caused by a foreign body in the ear canal or getting too much water in the ear canal when giving a bath is actually uncommon. Most ear infections seen by veterinarians are secondary to an underlying allergy, most notably something in... Read more →

Changes Needed for Pet Insurance to Benefit More Pet Owners

Last week, I got a phone call from a gentleman in California whose dog had just had surgery and the bill was $4600. At the time, he didn't have pet insurance, but this episode stimulated his interest. He did some investigation into pet insurance and found out something that didn't make sense to him so he called me with the following question. "Is it really true that I would have to pay the veterinarian and then seek reimbursement from the insurance company? That's not the way my human insurance works, or for that matter, any of my other insurance works.... Read more →

Managing Pet Healthcare Expenses With Pet Insurance and CareCredit

It is common for pet owners to use an available credit source along with a pet insurance policy to help them manage their pet’s healthcare expenses. One such credit source is CareCredit, a health credit card. They offer 6 and 12 month “no-interest” payment plans. This allows the pet owner to file a claim and get reimbursed before the credit card balance is due. Here are some tips (based on my conversation with a company representative) when using CareCredit (any interest rates mentioned are accurate as of 10/2010 and subject to change, so be sure and ask the company for... Read more →

Avoiding Claim Denial Because Of A Pre-Existing Condition

Pre-existing conditions are not covered by pet insurance companies. Pre-existing conditions are problems or diseases that your pet may have shown symptoms of or been diagnosed with before the effective date of the policy. Most insurance companies will use the date you first noticed the problem, not necessarily the day it was diagnosed by a veterinarian. Some companies may cover a problem that occurred previously if it was "cured" and not considered a chronic condition (no symptoms or treatment within the last 6 months). From reading reviews that policyholders write on the various companies, this is a reason that is... Read more →

Pet Insurance - Good Summary Article

A relative sent me this article that appeared in their local newspaper. It contains a good summary of decisions pet owners make when it comes to paying for their pet's healthcare and how pet insurance can help. Read more →

Wild About Pets Talkshow Episode on Pet Insurance

I had the opportunity last Friday (7/16) to be the guest on Susan Frank's Wild About Pets Radio Show. We had a good discussion about pet insurance. This show airs every Friday and has expert guests dealing with a wide range of topics of interest to pet owners. I encourage you to check it out. Read more →

Pet Insurance Coverage For Prescription Diets

This is a topic that not many people think about. While it isn't a big factor in the grand scheme of things, some companies do provide some coverage for these diets. These diets are usually more expensive than your pet's usual diet. What is a prescription diet? It is a diet usually available only from your veterinarian for a specific medical condition. There are several companies that manufacture prescription diets like Hills, Iams, Purina, and Royal Canin. Examples of these diets are K/D for kidney failure, S/D and S/O for dissolution of struvite urinary stones, H/D for heart failure, etc.... Read more →

Pet Insurance Claims For Young Pets - Prevention Is The Key

It is interesting what the most common claims are for different age pets. This article reinforces that many problems that young pets get can be prevented. It also reinforces the advice to get pet insurance when your pet is young. Many pet owners don't see the need for insurance when their pet is young and the picture of health. But, you never know... While it's great to have pet insurance when something unforseen and expensive happens, it's much better to prevent it from happening in the first place. The link to insurance comparisons at the end of the article is... Read more →

Pet Insurance Allows Pet To Get Needed Surgery

This is an illustration how pet insurance is supposed to work. Pet needed expensive surgery. Because the pet's owner had pet insurance, she opted for the surgery paying for the bill with a credit card. The dog recovered and she got her reimbursement check from Pets Best insurance company before the credit card bill was due. The title to the article is a bit misleading. I don't think it means that the spinal problem would have been fatal to the dog, but that the pet owner may not have been able to afford the surgery if she didn't have pet... Read more →

Why Buy Pet Insurance?

I ran across an article written by Laura Bennett, the CEO of Embrace Pet Insurance Company, that gives interesting insight on her journey from purchasing pet insurance for the first time to actually starting a pet insurance company. Interestingly, two of the responses to the article were from people who have had pet insurance for a number of years and had negative impressions of the industry. They had purchased a policy from a company that provides limited coverage and/or excluded conditions that many of the newer companies now cover. You must do your research and know what to look for... Read more →

Buy Pet Insurance Early

I recently posted about this subject. Yesterday, I was reading a forum post from a pet owner that had bought pet insurance and when she filed her first claim, the company requested her pet's medical records. After reviewing the medical record, the company denied the claim stating it was for a pre-existing condition. Needless to say, the pet owner wasn't very happy. Embrace pet insurance has a Medical History Review that can give pet owners peace of mind that there won't be any surprises pertaining to pre-existing conditions when you file a claim. Other companies may be willing to do... Read more →

Perspectives On Pet Insurance

I just read the first chapter of a new book by Andy Andrews entitled "The Noticer." It is a book about an old man who finds people going through hard times and offers them advice. He "notices" things about their plot that they can't see and offers them a perspective that changes their attitude and ultimately their destiny. You ask, "What does this have to do with pet insurance?" Well, nothing really except a line jumped out at me that is the inspiration of this post. "Experience isn't the best teacher. Other people's experience is the best teacher." If you... Read more →

Wall Street Journal Interview about Pet Insurance

Dr. Kenney was interviewed by Anna Matthews of the Wall Street Journal about Pet Insurance. She has written a very good article that pet owners should read. To hear the interview, click on the audio in the article. Read more →

The Importance of Hereditary Condition Coverage with Pet Insurance

I just got back from a Continuing Education seminar where one of the speakers talked about liver diseases. There are several congenital and/or hereditary liver diseases that veterinarians see in practice that are expensive to diagnose and treat. Sometimes, even surgery is required to correct/treat the condition. Not all insurance companies offer policies that cover congenital/hereditary diseases. Some companies offer limited coverage. There are several that cover hereditary, but not congenital diseases, and some companies cover both. In my book, I outline all these differences and go more into detail as to why such coverage is important - from a... Read more →

Is Your Veterinarian A Reliable Source Of Pet Insurance Information?

Linda Markland, a tenured technician at Veterinary Pet Insurance (VPI), came by my office last week for a visit because they are familiar with my book. Dr. Carol McConnell and others were kind enough to share some of the insights they have into pet insurance when I was doing the research for the book. It was the first face to face visit I've had with a representative of VPI although they are good about calling or e-mailing me about interesting articles or podcast they discover from time to time about pet insurance. I was fortunate enough to form relationships albeit... Read more →

Another Factor To Consider When Purchasing Pet Insurance

A reader of my book and blog contacted me recently while doing her research before purchasing pet insurance. She had already done an amazing job researching in order to make a wise purchase. She brought up a consideration that, frankly, I hadn't given much thought to. As it turns out, it just might be important to some pet owners. She lives in California and has a 7 year old dog. After she narrowed down her search to 3 companies, she looked at how much her premium would increase as her dog aged. This is what she discovered: All three of... Read more →

Pet Health Savings Accounts

While doing some research this weekend, I came across several companies that offer Pet Health Savings Accounts. It works somewhat like my own Health Savings Account my wife and I have with two exceptions. First, it isn't tax deductible. Secondly, it isn't tied to a high deductible insurance policy. Unfortunately, some of these companies are positioning themselves to compete with pet insurance companies for pet owner's dollars. I believe that a savings account and pet insurance should compliment each other, not compete against each other. The idea behind my HSA is that with my savings I can pay for minor... Read more →