I am a dog person. Well, an animal person really, but one of our dogs won’t let us get a cat. So we’re dog people. In the past, I have worked for veterinarians and at one time was pretty active with dog breed clubs, including serving on Boards of some. My household just isn’t set up to be a ‘show dog’ household, and I found that I enjoy pet therapy much more and that’s what we focus on now. I’m just putting this out there, not to position myself as an expert of any kind, but I have been on both sides of the counter at the vet’s office–both as someone responsible for collections, and as the owner of a pet that needed very expensive care.

Let’s see, in the past ten years or so…..I had a insulin-dependent cat who also had two or three bladder surgeries, I have had two dogs that were urinary incontinent requiring meds that cost me upwards of $50 per dog per month, Macy needed a splenectomy–I think that was $2500 when all was said & done, another orthopedic surgery on another dog that was about $2500 start to finish………..despite all that, I would NOT get pet insurance.

If you are looking into it, here are some tips:

First, you need to make sure that you study very intently the list of things that it does NOT cover. In many cases, it’s quite an extensive list. Take into consideration your breed of dog (or predominant breed of dog, if you have a mix) and ask your vet what are the typical problems you’d expect to encounter during this pet’s lifetime. Make sure you look at ALL the costs and EXCLUSIONS. I can’t say this loud enough. Some don’t include cruciate repair (a very common & expensive injury), most don’t include anything considered to be hereditary, and some will drop your dog from the plan when he turns nine! They have deductibles and lifetime maximums. Please, please, make sure you read all the fine print. 

Next, weigh out the monthly and annual cost of premiums and add it up. How does that compare to the percentage they reimburse (it’s rarely 100% of anything) and what you’ll be spending out of pocket. Don’t forget those deductibles and co-pays. I’ve known of dozens, yes literally dozens of pet owners who have run the numbers and decided AGAINST pet insurance.

Lastly, know that pet insurance does not work like people insurance. There’s no third party billing and all that. They work on a reimbursement basis. YOU STILL ARE EXPECTED TO PAY FOR THINGS UP FRONT. This is very important in the case of an emergency. Many emergency clinics will not even buzz you in the door without proof of payment (yes, I’m serious). With pet insurance, you still pay for the event, then you file a claim, then you wait for your check for your “allowable reimbursement amount” which will be minus your deductible. And they may deny your claim, then you have to file an appeal–it’s no less hassle than dealing with a regular insurance company.

Here’s what I always recommend. First, take that monthly amount of what an insurance premium would cost you, and each month, put it in a savings account. If something happens, you at least have something as a buffer. Next, find yourself a no-annual-fee credit card, with the best interest rate you can find, and get it. Only if you have the self-discipline to NOT use it. Save it for that proverbial rainy day, when your pet does have a health crisis. Third, ask your vet if the office offers payment plans in the case of an emergency or severe health crisis. Many do. Look online into “Care Credit” which is becoming more and more popular.

Then, you’re really all set. If you have the discipline to do the savings account, you have a cushion if something happens. If it doesn’t, you have some money saved. You have a credit card to fall back on in case of an emergency and don’t have to think about finances first and foremost.

And now here’s my inner cynic-Pet insurance companies, like any other business out there, want to make money. That’s their job. To make money. The less claims they pay out vs. premiums they take in=more money for company. And, while some will disagree, veterinary care by and large is affordable. We may not all be able to afford to take our dog to the oncology unit at VHUP for their latest and greatest, but for the most part, it is affordable. Human health care is not. I would hate hate hate to see insurance companies do to veterinary medicine what they have done to human medicine. We’re all collectively better off in the long run if we do not allow them the access.