Dozens of Companies, Tons of Plans…how do I wade through it all?

Weekly I am asked my opinion on Pet Insurance. After all, these furry companions ARE part of our family, and we want to insure each of our family members…right? Well…maybe!

A quick search will land you so many companies, so many plans. As an AKC Breeder, once I register a litter of puppies, I can extend a 30-day plan to cover the adoptive family’s exams: https://www.akcpetinsurance.com/breeders/certificate

There are also coupons at the Veterinarian Offices for similar deals. Of course, the Insurance companies are hoping you will stay beyond the 30 days. Before you do, ask yourself these questions:

• Can I afford to pay for my dogs health care immediately through funds I have available or saved? (A good rule of thumb is to always have saved up at least double the price of market value of your dog.)
• Do I believe the insurance plan I am looking at will be cost effective? If I pay $50 a month to a company, will I even be utilizing its services?
• Will I be able to put the same amount I would be spending on insurance into a savings or investment account that I would be able to use at a moments notice, should a crisis or emergency take place?

Is this pet truly your family “child”? It makes a difference in the way we treat them.

I speak to, e-mail, and blog with hundreds of new puppy families each year. Each and ever one is unique…just like their dog. Some have young families, and some will have an addition to their big furry family, some are bringing them in as a companion in those later years with their fixed income. All of the dynamics need to be explored and inventoried to find the best plan, just in case “something” happens.

In the years I have been caring for Cavaliers (I have now had 10 Cavalier King Charles Spaniels), I have only had one true emergency which cost me $1000 out of pocket, which happened last Christmas time. We paid for this out of our Emergency Fund. Due to the nature of the problem (she was wobbling and falling and her eyes weren’t focusing – we believe a slight stroke, but was never confirmed), had I not opted to bring her home, the bill could have easily been 10k because of the timing (no neurologists available until the next week and they wanted to monitor her). Sure I’ve spent about 10x’s that amount in my home kennel due to the nature of breeding, but almost everything medical I spend it on would not be covered. For my situation, where I have yet to see a dog (in my home kennel) need an exorbitant Vet bill covered, it has worked to save and use as need to.

Due to some of the Cavalier King Charles Spaniel’s genetics and geriatric needs, you will find this breed has some of the more expensive rates on the market. The younger you decide to insure, your rates will be lower. When Willy was a young tyke, I looked into insuring him. I was quoted $50-$100 per month depending how much out of pocket I was willing to cover. I knew there would be puppy shots and a few tests that first year, but aside from that, I knew I could probably set aside $300 for him and barely touch it. Instead, I continued my search on a healthy, holistic approach to my Pet’s Care. A lot of what I do will be written in this blog forum. I treat my dogs similarly to how I treat my family and, especially, myself. Both warm-blooded mammals, there are some essentials that we all need to maintain a healthy life. Personally, outside of an Exam for a Certification two years ago, I haven’t seen a Doctor in about 7 years. I hope to maintain my health for a very long time! (And, by the way, I use a Cooperative for my Health needs (vs. Insurance). Getting in FRONT of the problems helps…but then, there’s always those once in a great while EMERGENCIES.

When looking at Pet Insurance, you will need to understand WHAT THE INSURANCE WILL PAY. Some plans will pay a percentage of your Veterinarian bill. Others will pay a percentage of what the insurance company deems “usual and customary” charges for that treatment, which might be less than what your vet charges. You will always be responsible for the remainder.

Most plans also have a deductible (the dollar amount you pay out of pocket before the policy pays). Some plans apply deductibles to each injury or illness that’s treated. Others have you pay the deductible every year. This site did all the work for you and found the top three companies that provide the best overall coverage: https://www.caninejournal.com/pet-insurance-comparison/

As a rule, the lower your out-of-pocket costs are, the more you’ll pay for coverage. A lower deductible and higher reimbursement rate lead to a higher premium, while a higher deductible and lower reimbursement rate mean a lower premium…just like our (human) insurance!

According to the site ValuePenguin , the average cost an owner pays for pet insurance is $43.14 for dogs and $26.77 for cats. I’ve seen insurance plans of $100 a month for newborn puppies! Getting a policy is similar to getting health insurance for a human. Your pet’s age, breed, where you live and the type of coverage you get is all factored into the insurance rates. Older and larger animals will have some of the highest rates.

If you compare those premiums to the average prices of some veterinary bills, the monthly payments may not seem that high. The website Petplan reports that the average bill for a pet that swallows something they shouldn’t have is about $1,755, and joint-related bills average at $3,480. Further, according to the American Pet Products Association reports sales in vet care in 2017 were $17.07 billion and over $18.26 billion in 2018.

The Bottom Line…you don’t ever want to have to choose to not let Fido have comfort due to your lack of fund$.

Imagine your dog getting into your fresh baked oatmeal-raisin cookies, it’s 10:00 at night and he begins to vomit profusely. This on top of your car being in the shop last week and your “Emergency $avings” is no more. What do you do? This is YOUR FUR BABY, your FAMILY MEMBER! Well, there is an option…nooo, not selling your first born to the highest bidder.

Interviewing our local Humane Shelter Director, Charmaine Rastatter told me recently that there are so many dogs dropped off at the shelter for no other reason than because the pet needed medical attention that the owners were unable to financially provide for. As an ethical breeder, I state in my Health Contract that if someone is ever not able to care for the dog, I have the first “right of refusal”. Meaning, I want the ability to care for the puppies-turned-dogs that were bred and reared in my home. All pets deserve a chance! **

For a lot of people, they have to use CareNet, the high-interest “Credit Card” which is touted as “insurance” when you are unable to pay for medical bills (for you or your furry friend). On their site I read: For use “On qualifying purchases of $200 or more made with your CareCredit credit card account at enrolled provider locations. Interest will be charged to your account (at the rate of 26.99% (2019 rate for new accounts) from the purchase date if the promotional purchase is not paid in full within the promotional period. Wow! This alone should help us all make the decision on how we will help our Dog during the rough patches in life.

What’s MY personal choice? Well, for 5-8 DOGS in my care ALL THE TIME, I choose to pay for their HEALTHY LIFESTYLE and $ave in a bank each month for “Emergencies” (and annual testing). I hope this blog has helped you make this very important decision for your furry companion.

**Watch for the blog post “What happens when you HAVE to say good-bye to your best friend, our dog?” Walking through grief.