[caption id="attachment_48608" align="alignleft" width="200"] Photo: Amanda S.[/caption]Health insurance has been in the news recently, but has it ever occurred to you to purchase a policy for your furry family members? Veterinary medicine has come a long way in the past couple of decades and because of these medical advances, veterinarians can perform many procedures that were previously unheard of. Although these advances contribute to a longer life expectancy, they do carry and expensive cost.
According to TopConsumerReviews.com, currently, only one percent of the U.S. pet population – just under 3 million animals – is insured. However, industry trends indicate that pet health insurance policies are growing in popularity in the U.S., with an anticipated increase of up to 10 percent within the next five years.
Most pet owners understand that cost for care, as well as the likelihood that the pet will suffer from certain diseases and conditions, significantly increases as the pet ages. However, not many pet owners have stopped to ask themselves what they would do if their pet suffered a serious or unexpected injury. The average cost for mending a broken leg, for instance, can run between $2,000 and $5,000 without insurance coverage. Dogs, which are known for eating and swallowing items which can be harmful, may need emergency surgery to remove the item and repair any internal damage that may have been caused. That kind of procedure can cost up to $3,000. Many pet owners cannot afford such high up-front costs and most veterinarians require payment in full at the time of the procedure. That leaves many pet owners struggling with what to do for their pet when they can’t afford the procedure that could help them.
A number of pet insurance companies exist today that can greatly relieve the burden of life saving procedures and care making them a good investment for pet owners. However, these companies vary in services covered, cost, customer service, and claim reimbursement. It's important to do your homework.
Before selecting a pet insurance provider you should consider the following:
•Coverage. What procedures and services does the plan cover? Is their flexibility in selecting the plan that meets your needs? What services are excluded?
•Customer Service. Will someone answer the phone if you call in an emergency? When is the company open for assistance?
•Insurance Premiums. How much will your premium be for the pet insurance that best meets your needs?
So before you find yourself in an emergency situation, why not do some research and figure out if pet insurance is right for your family. To read reviews, compare rates and coverage, and get free quotes, click here.
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