Pet
insurance Issues in the USA
- Soaring costs
of treatment
- The cost of veterinary practice in the USA has
almost doubled over the last 5 years to $19 billion.
- This reflects the increasingly sophisticated investigations
and treatments available. Your pet can now have expensive procedures
previously only available to human beings, for example a CT scan or
radiotherapy.
- Is insurance
for me?
- Research shows that 50% of pet owners want
their pets treated, whatever the cost. The remaining 50% take a more
pragmatic approach, seeing their pet as expendable is treatment costs
become excessive. While pet insurance should be particularly attractive
to the former group, the latter group would presumably favour avoiding
the need to destroy their pet, if possible. Insurance would be an
obvious
solution to their dilemma.
- Conditions excluded
from insurance
- Some pre-existing conditions and some
hereditary
disorders associated with certain breeds (e.g. German Shepherd dog's
hip dysplasia) are excluded.
- Co-pay applies
- Just like any other insurance policy, you can
determine the right percentage of co-pay for you. Rates are typically
from 10 to 50%.
- Older animal
surcharge
- As insurance fees are based on risk, there is
a slightly increased premium for older animals.
- Generous Caps
- There is a limit or cap applied to the cost of
a single treatment and the maximum allowed per year. These are rarely
reached, even where expensive treatment is required.
- State Insurance
Registered
- Your pet insurer should be registered with the
State Insurance Department (Our pet insurance is registered across USA
states)
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