How to Get Affordable Pet Insurance on a Budget

April 8, 2011

According to the American Pet Products Association, cat and dog owners in the U.S. spent nearly $12.8 billion on veterinary care in 2010. Pet insurance can help with these medical costs by offering coverage on routine and emergency visits, as well as treatments.

If you’re a pet owner, consider what coverage options you really need and which you can skip to find affordable insurance for your pet without sacrificing quality care.

Must-have pet insurance coverages At some time in its life, your pet may need additional care, like surgery or hospitalization. If you choose to buy insurance for your pet, consider a plan that offers the following coverages so you get the most value for your money:

Pre-existing and hereditary conditions If you have a breed that has a pre-existing condition or is predisposed to hereditary illnesses, look for a pet insurance company that will cover these costs. Be sure to compare plans and ask the company about exclusions.
Ongoing conditions – Not all pet insurance plans offer coverage for ongoing conditions. Most pet insurance companies define an ongoing condition as an injury or illness that requires continued care after plan renewal (typically more than 180 days).
Accidents – Look for a pet insurance policy that covers poison ingestion, lacerations and broken bones at minimum.
Illnesses – Treatment for cancer, diabetes, allergies and other illnesses can be covered by insurance for your pet. Without coverage, vet bills can easily become a financial burden on you and your family.
Hospitalizations– Most pet health insurance plans offer coverage for hospitalization related to an accident or for emergency treatment. Hospital costs can add up quickly depending on the length of your pet’s stay.
Surgeries –More surgical options are becoming available from veterinary offices and can range from hundreds to thousands of dollars. Make sure you find a policy that will cover surgical procedures.
Diagnostic testing –Like surgical procedures, X-rays, MRIs and other diagnostic tests are being introduced to veterinary offices. These tests can easily cost hundreds of dollars and may need to be repeated throughout the course of treatment.

Pet expenses you should pay out-of-pocket Not all veterinary services are part of a standard pet insurance policy. While you can purchase pet insurance coverage for these services as an add-on to your plan, keep in mind that the cost for such coverage may be higher than paying for these expenses out-of-pocket.

Wellness care– Though alternative therapies like acupuncture and chiropractic services are available, traditional yet effective treatments for the same illness or injury may be available under a standard plan.
Routine care – Vaccines, annual exams, and dental cleanings are only needed once a year.
Spaying/neutering– Many low-cost animal clinics throughout the country offer the same quality care as your veterinary office.

There are many pet insurance plans available, so it should be simple to find one that suits both your needs and budget. Remember to carefully review and compare plans, as they can vary significantly.View the coverage options available for your pet and get a free, online pet insurance quote.

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