What you need to know when considering health insurance for your pet.
In North America about 3% of pets are covered by pet health insurance. Compared to the United Kingdom where almost 40% of pets are covered, this is an incredibly low number.
Why is this? In the experience of veterinarians in Markham, insurance pays off easily – and yes, the vets’ experience is a little distorted, because we see mostly those pets who are not healthy.
Consider this: One day in a pet clinic with a major surgery and a number of diagnostic tests and follow up care can cost a multiple of lifetime insurance premiums. There are plans that cover most conditions quite well for approximately $30-$80 per month.
What pet insurance companies have in common:
All insurance companies ask the client to chip in and pay a portion of the veterinary bills. Usually they have a flat fee deductible and pay only a percentage (80-90%) of the entire bill. This is called coinsurance. The purpose is obviously that they want to avoid owners from abusing the insurance and racking up too many claims. This is not unlike car insurance. Here the similarities stop. Some pet insurance providers increase your coinsurance, or rates, if your pet belongs into a higher risk group, or the claims history gets too high. Other companies do not penalize you for using their coverage. There are also pet insurance plans available with zero deductible and different rates of coinsurance. Please check out the details before signing up for a plan and ask your Markham veterinarian.
Without insurance, it is upsetting enough to have to worry whether your little one is getting better and how you can cope with the health issues.
In times of health problems with your little furry family member, it is terrible to have to worry about affordability of the best possible treatment and diagnostics.
So long,
Your veterinarians and staff of the Animal Hospital of Unionville
