Pet Health Insurance

In 2009, I researched pet insurance for my Bouviers. Pet insurance reviews were skeptical. No one would say “yay” or “nay” on enrollment nor recommend pet insurance companies. Well my thoughts drastically changed later that year.

Why I Chose Pet Insurance

Armond, my darling Bouvier, was diagnosed with bone cancer. I was beyond heartbroken, but determined to provide him with the best quality of life. The gold standard of pain control for bone cancer is amputating the affected leg. We met with a board certified orthopedic veterinary surgeon and set a date. To say I was not suffering from sticker shock, I would be lying. It was going to cost $5,000.

Armond came out of surgery and was sent home after a few days being monitored at the veterinary hospital. He had a few complications, such as a reaction to certain medication combinations, and needed additional pain control. However, they were minor, but tagged an additional $1,000 to his final bill.

My darling boy stayed with us for four months post amputation. However, his quality of life was excellent until he crossed the Rainbow Bridge. It broke my heart paying veterinary bills even after he was long gone. I promised myself I would research pet insurance. Here are my results.

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Breaking Down the Numbers

As much as we don’t want to admit it, cost is a factor. My dogs are family members and I’ll do whatever is necessary, but we still need to pay our mortgage. I’ll crunch the numbers for you, but understand, base care is not the concern. It’s unexpected surgeries, accidents and illnesses that bleed your bank account dry.

Many loving pet parents say goodbye to their precious dogs early because they simply can’t afford surgeries or medical care. This occurrence is called “economic euthanasia.” After lots of research, I’ve chosen Trupanion. They have no caps and reimburse within a week of submitting receipts.

Pet Insurance Premium Costs

Premiums depend on a dog’s age and deductible amount. I’ve chosen a small (10%) deductible and so our monthly costs are higher ($68 per month per dog). If you’d prefer a larger deductible, usually purchased to cover accidents, monthly premiums are much lower, usually $20-$30 per month.

Assume your dog will live until 12 years of age. Now, factor in monthly pet insurance premium fees per year.

$40 x 12 months = $480 per year

$480 x 12 years = $5,760

Before you balk at the final cost, let’s break down average veterinary costs.

Average Basic Care

In 2012, veterinary costs averaged $227 per year. Now, it’s 2015 and I find the average cost very low, but demographics do play a large role and I’ve always lived in a larger city. My average veterinary cost per dog hovers around $400 per year. But let’s use the average cost for comparisons.

$227 x 12 years = $2,724

Accident and Illness Costs

Veterinary costs are on the rise just as human medical care skyrockets so let’s look at average costs for unexpected treatments:

• Cruciate ligament repair (torn or partially torn ACL): Averages between $2,000-$6,000, depending on severity and size of dog.

• Foreign body removal surgery (removing undigested items from a dog’s digestive tract): Between $1,400-$2,000.

• Accidental poisoning (human medications, insecticide and so forth): $791

• Removal of lumps or bumps: $200-$1,500, depending if dog was anesthetized.

• Dental cleanings: $200-$400, if tooth extractions are needed. Some dogs, especially small breeds, need yearly or biyearly cleanings.

Costs Add Up

Choosing pet insurance is a personal decision and some call it a gamble. As a dog lover and trainer, it seems I’ve lost the gamble with all my dogs. So, in my perspective, pet insurance is worth it’s weight in gold. Yes, I still pay for routine costs, such as heartworm medication, exams, spay and neuters, but I do sleep better at night knowing my dogs are insured.

Another Option

While this option will not reimburse costs, it can provide a lower interest rate for unexpected veterinary costs. It’s called CareCredit and accepted by most veterinary clinics. For larger costs, I charge to my CareCredit card and pay it off once reimbursed by our pet insurance company.

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