Pet health insurance is a growing industry with many companies offering different coverages. The growing cost of care and advancements in technology within the veterinary field relate to increased service prices, thus insurance can help offset a percentage of veterinary costs. In general, the concept of pet insurance is recommended rather than individual companies or coverages. Additionally, comparison tools are available to help choose the right coverage for your pet(s). According to the American Veterinary Medical Association (AVMA), pet insurance policies should include the following criteria:
- Veterinarian-client-patient relationship
- Policy holders select their own veterinarian(s)
- No interference with veterinary hospital fees
- State insurance regulatory agency approval where the coverage is sold
- Adhere to veterinary medical ethics and industry standards
- Licensed veterinarian review of submitted claims
- Be clear about limits, structures, and optional coverages available for purchase
- Be transparent about pre-existing conditions, policy limitations, exclusions, and fee structures
- Be clear about the reimbursement process
Reasons for acquiring pet insurance are vast and not a perfect fit for every family. Preventive care, vaccines, dentals, routine surgery, emergency visits, specialist visits, and behavioral issues may be covered by pet insurance. Speak with your veterinarian to determine the best insurance plan for your pet(s).