Dog owners can expect to pay a few hundred dollars a year for routine veterinary care, but a serious illness could send the bills soaring into the thousands.
One way to protect yourself is to buy pet health insurance.
It's still not that common. Less than 1 percent of pets are insured in the U.S., according Petplan USA — one of just 13 plans available in the U.S. The company was founded by British natives Natasha and Chris Ashton, who said that in England, over 20 percent of all pets are insured and in Sweden the figure is close to 50 percent.
The couple started the company, which is affiliated with Petplan UK, after they ended up with a $5,000 bill to treat their cat, and were surprised at their limited choices.
In addition to selling plans directly to owners, Petplan also offers insurance through The Humane Society.
Most people don't start looking for pet insurance until they face a big vet bill, said Michael Hemstreet, who runs Pet Insurance Review, a Web site for comparative shopping.
"But not one of the companies will cover a preexisting condition," he explained.
Many pet insurance companies also will not issue new policies for older
Hemstreet noted that pet insurance is technically property insurance, and many plans come with numerous restrictions.
The American Society for the Prevention of Cruelty to Animals estimates pet insurance costs at about $225 per year, but the price can more than double for older dogs. Many companies offer discounts for coverage of multiple pets.
In general, plans cover about 80 percent of pet medical bills, including routine checkups, vaccinations and tests.
Deductibles range from $50 to $125, and some companies limit the total amount of coverage available, either annually or for the life of the pet. Annual caps typically range from $7,000 to $20,000.
Hemstreet said pet insurance won't save people with healthy dogs much money, but can make the difference if a dog has a serious illness or accident.
"I think pet insurance is for the person who will do anything to treat their pet and save their pet," he said, noting that advanced treatments like chemo-therapy and transplants are becoming more common. "They can do all this stuff, but it gets pretty expensive."
On the Net:
Charles Bonenti's Good Deals column will return next week.
- Copyright © 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Font Resize
