Vets today can offer treatments and procedures that were unheard of just a few years ago, such as radiation therapy, transplants, and MRIs. You guessed it... these new pet treatments aren't cheap! Vet costs have risen over 70% in the past five years, to over $19 billion last year. If you own a pet, you know just how fast the vet bill adds up.
Pet vet health policies are similar to human insurance policies; annual premiums, deductibles, and various coverage based upon what the owner chooses. Most plans also have co-pays and caps that limit how much will be paid out annually.
Items to be aware of when choosing pet vet insurance for Fluffy:
- some policies won't cover older pets
- certain breeds are excluded from coverage
- pre-existing conditions might be excluded
- most insurers offer a multi-pet discount
Pet vet policies vary greatly, depending on the animal and the various packages that the owner can select from. Some packages are comprehensive, including such things as annual checkups and vaccinations, spaying/neutering, death benefits and even reimbursement for offering a reward for lost pets. Other plans cover only accidents and illness.
Let's compare various Canadian pet vet insurance policies.
Pethealth: Accident Only $9.95 $50 deductible; Up to $2000 for selected accidents. No illness coverage Rating 4.08
Petsecure Secure 1: $21.41 Accident coverage to $1,000 per accident, illness coverage to $1,000 per condition. Up to 80% coverage for approved claims. Three annual deductible options to choose from. Dental coverage to $200, alternative treatments, behavioral therapy and medical devices to $350. Member benefits include; boarding kennel fees, lost pet advertising, holiday cancellation and cremation or burial to $1,000 per incident. Rating 9.33
Pethealth Gold: $22.95 $50 - $75 deductible. Pays 70% - 100% of approved claim depending on monthly rate. Boarding Fees to $250. Finder's Reward to $150. Double illness coverage available. Rating 4.08
Petsecure Secure 2: $26.82 Accident coverage to $2,500 per accident, illness coverage to $2,500 per condition. Up to 80% coverage for approved claims. Three annual deductible options to choose from. Dental coverage to $300, alternative treatments, behavioral therapy and medical devices to $350. Member benefits include; boarding kennel fees, lost pet advertising, holiday cancellation and cremation or burial to $1,000 per incident. Rating 9.33
Pethealth Preferred: $34.95 $100 deductible. Pays 70% on approved claims. Covers all accidents and illnesses; death to $500; kennel fees to $250; advertising and reward to $150; euthanasia to $100
Rating 4.08
Petsecure Secure 3: $40.68 Accident coverage to $5,000 per accident, illness coverage to $5,000 per condition. Up to 80% coverage for approved claims. Three annual deductible options to choose from. Dental coverage to $400, alternative treatments, behavioral therapy and medical devices to $350. Member benefits include; boarding kennel fees, lost pet advertising, holiday cancellation and cremation or burial to $1,000 per incident. Rating 9.33
Vet Insurance: $33.85 No deductible. Pays 90% of an approved claim. Rating 8.64
Petsecure Secure 4: $65.30 Accident and illness coverage is unlimited. Plan includes preventive care coverage. Up to 80% coverage for approved claims. Three annual deductible options to choose from. Dental coverage to $600, alternative treatments, behavioral therapy and medical devices to $350. Member benefits include; boarding kennel fees, lost pet advertising, holiday cancellation and cremation or burial to $1,000 per incident. Rating 9.33
Basically, Petsecure offers one, comprehensive plan with four levels of coverage. Level Secure 4 provides for preventive annual wellness care (blood profile, urinalysis, vaccinations, heartworm flea/prevention, heartworm testing, fecal test/routine de-worming) and ongoing lifetime wellness care (vaccinations, spay/neuter, microchip, dog dew-claw removal).
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