I have always had pet insurance for my dogs. In the past, it was a no-brainer. It seemed like it was worth it. However, changes in insurance over time, combined with some changes in my own situation, make me wonder if pet insurance is still worth it for me.
Pet insurance for a dog eight years ago
I signed up for pet insurance with Nationwide about eight years ago for the only dog I had at the time. I was excited about them. It cost me about $1000 a year. There was a $150 deductible. And for that price, they covered ninety percent of almost everything I ever needed. They even covered that amount for her flea and heartworm prevention medications. These cost several hundred a year, so that alone started to make it worth it for me.
Plus, they seemed to cover every strange situation that arose. She was allergic to bees, so both times she got stung and we had to go get treatment, they covered it up. She had behavioral problems related to seizures that required seeing a specialist; They covered that. This was in addition to all the usual vaccinations, wellness, annual blood tests, etc. It was absolutely obvious to have that coverage. She saved me a lot of money over time in taking care of her.
When did it start to change?
Since we were doing so well, I continued to renew his insurance annually. It went up a little every year. In fact, I don’t think I started with the $1000 I mentioned before. I think that’s where we ended up, although I’d have to go back to my logs to find out. In any case, I noticed that it increased annually but it was not significant. The coverage still seemed the same, so I didn’t really pay much attention. It was worth it.
When I bought my second dog, I also took out a policy for him with them. I noticed it seemed a little different. It was cheaper, about $500 a year. However, it had a higher deductible of $250. And I noticed that it didn’t seem to cover as much as before. However, he rarely needed to do anything so it didn’t really show that much. And the coverage for those heartworm and flea preventatives made it worth it.
I had to pay out of pocket when it came time to neuter him. I was hoping this wasn’t covered though. It didn’t take me by surprise. I got him from a rescue organization, but I agreed to neuter him myself so he could come see me sooner. I had planned this.
Insurance for two dogs
Sadly, our first dog passed away a few years ago. So we got our dog and last year we got another rescue puppy. Of course, I signed her up for pet insurance. And I noticed that he was a little more expensive, even with the “second dog discount” of 5% of the total. Still, I didn’t think much about it. I’ve always been under the impression that pet insurance will always be worth it in case emergencies arise.
However, I’m starting to rethink that. This puppy has needed a lot more care. As a result, I have found myself paying much more attention to what is covered and what is not. And it turns out that he doesn’t cover up as much as he used to.
Wellness services are no longer fully covered
Extra payment to add a “welfare plus” portion to emergency services for our dogs’ policies. This is what previously helped me cover ninety percent of all wellness exams, preventative medications, etc. However, they have significantly reduced what they cover. For example:
- They cover two exams per year. However, they will pay a maximum of $30 for each exam. My vet charges considerably more than that just for the exam portion.
- They now only cover $75 per year for heartworm and flea prevention medications. As mentioned above, they cost several hundred dollars a year.
- They will only cover one additional test per year. I have always performed complete blood work on my dogs as part of their annual wellness exams. This has proven invaluable in understanding what happens to them as they age. This costs several hundred dollars, which were previously covered. Now they only cover $75 for a test.
- Perhaps most importantly, they only cover $75 for all vaccines for the year. There are about five vaccines recommended by the veterinarian. They cost several hundred dollars in total.
So, as you can see, even considering just wellness services, it’s increasingly questionable whether pet insurance is worth the cost.
Emergency services are barely covered
Of course, my initial thought is that it’s best to have pet insurance in case of emergencies. However, as we have discovered in recent months, emergencies are no longer covered to the same extent as before. For example, according to my most recent brochure explaining reimbursements, if the dog had epilepsy, less than $1,000 per year would be covered. Fortunately, my dog does not have this, but I know from past experience that it barely scratches the surface of what a dog needs if he has a severe version of this condition. The situation is similar for conditions like degenerative arthritis, which I suspect my pup might be prone to as he ages.
Exclusions from what is covered
Additionally, there are many, many exceptions listed in the “what we don’t cover” section. My dog needed a gastropexy. This is considered “elective,” but the risks of not having this surgery were really high. It cost me several thousand dollars. None of that was covered. Other exclusions include many bone and joint conditions, dental problems, many eye conditions, anal gland problems, pre-existing conditions, conditions considered congenital or hereditary… well, you get the point.
Where to get dog insurance in the United States
In the United States, there are many companies that offer dog insurance. You can get dog insurance online, over the phone, or through an insurance agent.
Here are some places where you can get dog insurance in the United States:
- Online: There are many insurance companies that offer dog insurance quotes online. You can compare prices and coverage from different companies to find the best deal for you.
- By phone: You can call a dog insurance company to get a quote. An insurance agent will be able to help you compare plans and coverages.
- Through an insurance agent: You can work with an insurance agent to obtain dog insurance. An insurance agent can help you compare plans and coverages from different companies and find the plan that best suits your needs.
Below are some of the most popular dog insurance companies in the United States:
- Embrace Pet Insurance
- Trupanion
- Petplan
- Pets Best
- ASPCA Pet Insurance
When comparing dog insurance plans, it is important to consider the following factors:
- Coverage: Make sure you understand what is covered by your insurance plan. Some plans include coverage for accidents, illnesses, vet visits, and prescription medications. Other plans may include coverage for additional services, such as physical therapy or acupuncture.
- Deductible: The deductible is the amount of money you have to pay before your insurance begins to cover the costs. Lower deductibles typically have higher premiums, and vice versa.
- Copay: The copayment is the amount of money you have to pay for each service covered by your insurance. Lower copays typically have higher premiums, and vice versa.
- Payment limit: The payment limit is the maximum amount your insurance will pay for a claim.
It is also important to read the fine print carefully before purchasing dog insurance. This will help you understand the terms and conditions of your policy.
Here are some tips for getting affordable dog insurance:
- Buy insurance when your dog is young. Young dogs usually have lower premiums than older dogs.
- Compare prices from different companies. Don’t assume that the first company you find is the best deal.
- Consider a plan with a higher deductible. Plans with higher deductibles typically have lower premiums.
Having dog insurance can help you provide your pet with the medical care they need, even when you can’t afford it.
So, is pet insurance still worth it?
With two dogs, I pay over $1000 a year for coverage. With deductibles, add another $500 per year. ¿. For now I continue evaluating. I’m going to review other insurance policies to see if there are better options. And for now I’ll stick with the insurance.
