Casey’s Corner Another look at pet insurance

What would you do if you were faced with a $5,000 veterinary bill to save the life of your beloved dog? What if you simply don’t have the cash, or don’t have a friend of family member who could loan you the money, or your credit limit is too low to support that kind of expenditure?

In situations like this, many people are forced into making the heartbreaking decision to let their pet go.

Depending upon your personal circumstances, there’s an alternative to this distressing scenario: pet insurance. A lot has changed since I first wrote a column on this subject in 2019: then, only a handful of companies offered pet insurance. Today, there are almost 40 companies that are members of the North American Pet Health Insurance Association. Before you make the leap, however, there are several things you need to investigate.

Age limits

Make sure the coverage will continue for the life of your dog and insure her right away. While almost no insurers will insure a dog over a certain age initially, many will cover your already-insured dog until the end of her life.

Waiting period, pre-existing conditions, exclusions

All insurers have a waiting period before coverage begins. But coverage for pre-existing conditions varies widely, and each insurer has a different definition of the term.

Download a copy of the policy and read it carefully for this information, as well as what it excludes. Talk to your veterinarian about what types of exclusions you should be concerned about with your particular dog.

Make sure prescriptions and dental care are covered, and that there’s no cap on costs. It can be a shock to take your dog for an $800 cleaning and end up with a $2,500 bill because he needed extractions or treatment for infections, when your policy has a $1,000 limit.

Don’t expect insurers to cover elective surgeries like ear-cropping, or everyday procedures like toenail trims or grooming.

Limits, deductibles

Avoid insurance that has an annual limit of what it will pay: if your dog has a serious health issue in February that hits the limit, you’re on the hook for any expenditures that come after that.

Most pet insurance policies offer you a choice of deductibles (the cost you need to pay before the insurance kicks in); this is a personal decision, based on what you can afford in the long run. A policy with a lower deductible will cost you more in premiums than one with a higher deductible. Stay away from any company that imposes a per-incident deductible: if, for instance, your dog has a leg injury in one month and then gets pneumonia three months later, you’re stuck paying a deductible for each condition.

Help and advice

Does every pet owner need pet insurance? Not necessarily. You could set up a savings account especially for pet emergencies, but the downside is that you have no way of deciding how much to set aside. For many people, knowing your dog will be taken care of in an emergency or for a serious health issue is worth the monthly premium.

However, deciding which company to go with can feel overwhelming — but there are sources that offer guidance.

First, ask your veterinarian for advice. Whole Dog Journal has a new comparison list of its top recommended companies; in addition, a number of non-sponsored websites offer rankings of pet insurance companies, including Forbes, U.S. News & World Report and Money magazine. Finally, do your own comparison between at least three companies. It’s a lot of work, but having your dog’s health protected is worth the effort.

Joan Merriam lives in Nevada County with her golden retriever Joey, her Maine coon cat Indy and the abiding spirit of her beloved golden retriever Casey in whose memory this column is named. You can reach Joan at joan@joanmerriam.com. And if you’re looking for a golden, be sure to check out Homeward Bound Golden Retriever Rescue.