HEALTH
Reviewed by Dr Abbie Lam DVM
From the options available to the protection and potential savings, learn about the benefits of getting your dog pet insurance.
Your guide to choosing the right dog insurance
The thought of our beloved dogs falling ill or getting injured is undeniably distressing. They are beloved members of our families, and the mere notion of them experiencing suffering is something we wish to avoid. But unfortunately, with their curious, boisterous natures, accidents and illness are probably inevitable.
With living costs and veterinary fees rising, purchasing dog health insurance is a sensible option that can provide you peace of mind and can potentially save you thousands of dollars.
Why you need dog insurance
Insuring your dog helps to avoid the high cost of vet fees if your dog has an accident or suffers an unexpected illness. Unfortunately, Medicare does not exist for pets, and veterinary fees can quickly rise, especially in an emergency. Treatment for a dog that has been hit by a car can be thousands of dollars, and cancer treatment can exceed tens of thousands. If your dog has a serious accident or illness, pet insurance could save you a lot of money.
Dog insurance can also cover other costs, including third-party liability (in case your dog causes injury or damage to property) as well as theft, loss or premature death, which may appeal to owners of particularly expensive breeds of dog.
Pet insurance options for dogs
Invariably, pre-existing conditions are excluded from insurance cover. You can choose from several types of dog health insurance. As with other forms of insurance, the more you pay, the more comprehensive the coverage.
- Accident only: The most basic level of coverage is ‘accident only’, which will cover your pet for an accident, but not an illness. This includes things like car accidents, dog-attack bites or broken bones. Depending on the policy you buy, there may also be a time limit for treatment or a limit on the amount you can claim.
- Time-limited: The next level of insurance is a ‘time-limited’ policy, which will cover an accident or illness, but only for a specified time period afterwards, usually a year. For any given condition, you will have to pay for additional treatments performed outside the 12-month period. There may also be a limit on the amount you can claim for each condition.
- Maximum benefit. These policies don’t have a time limit on care, but do have a cost limit, for example $2,000 per condition or claim; or perhaps an “up to” value per year. Large sums are to be expected if your pet requires complex surgery following an accident, and you may reach top limits quickly.
- Lifetime coverage. The most comprehensive – and most expensive – dog insurance is ‘lifetime coverage’. Your dog is covered for every condition up to a generous total, often as high as $40 000, for their life.
The cost of dog insurance
How much you spend on dog insurance will depend on a number of factors, including the level of coverage you choose, the excess and the vendor. It will also depend on the age and breed of your dog. Some breeds, such as golden retrievers and giant breed dogs, are susceptible to more specific health problems later in life, which can affect the cost of insurance.
There are a few tricks to making your pet insurance cheaper:
- Desex and microchip your dog to receive a discount
- Choose a plan with higher excess, meaning that you pay more of each claim, but a lower premium
- Some companies will also give you a small discount if you buy online, bundle more than one pet, or hold other types of policies with the same insurer
What about routine vet fees?
Dog insurance typically only covers unexpected vet fees that arise from illness and injury. You will still need to pay for routine and preventive health visits. Your vet may offer an annual healthcare plan, whereby you pay a discounted monthly fee for regular checkups and preventive treatments.
These plans can save money in the long run and should be purchased in conjunction with – and not instead of – dog insurance.
What to look for when choosing dog insurance
As with many purchases, cheapest is not always best, and you should consider other factors as well as cost. Ask these questions:
- How long has the company been offering pet insurance?
- Do they have a good reputation? What do online reviews say?
- Does your vet recommend them?
- Will the insurance company pay the vet directly?
- Do premiums increase after you submit a claim?
While pet insurance is an additional expense on top of the everyday costs of having a dog, the sense of security it provides is invaluable. You’ll spend less time worrying about your dog getting sick or injured and more time enjoying their company. Check out our fun dog exercises to try, or learn how to teach your dog to swim.
