A recent article in the Cape Cod Times discussed the rise of pet insurance in the United States. As the cost of veterinary treatment rises, so does the need for a way to pay those higher costs. This is where pet insurance can help. Where once a kidney transplant, for example, was out of the question for a pet, it is now a viable option… but may cost up to, or over, $10,000. With pet insurance, pet owners can make the decision to move forward with the expensive treatment, knowing that they will be reimbursed a majority of the cost.
Take the article’s example of Miley, a chocolate Labrador retriever puppy who is insured with Trupanion.
When Cheryl Boli’s daughter accidentally hit [Miley] with her car in August, her policy with Trupanion pet insurance took difficult financial decisions out of the equation when vets at Cape Cod Veterinary Specialists in Bourne worked to repair Miley’s contused lung and fractured shoulder blade.
“She was on a respirator for about 15 hours and had two doctors like completely dedicated to her,” said Boli, who had only made about two $38 insurance payments for the 5-month-old dog.
After several days of surgeries, the bill came to about $8,500, Boli said. Insurance covered about $7,500.
“I tell people all the time: It’s a good investment,” Boli said.
The article states that insured cats and dogs in the U.S. is estimated at 1.2 million, but that is still only 1% of the nation’s pet population. The United Kingdom, by contrast, insures about 25 percent of their country’s cats and dogs.
Read the full article at Cape Cod Times Online.