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Pet insurance: to buy or not to buy? Wednesday, October 07, 2009

By Jill Abramson

Like a lot of Americans, I'm obsessing about health insurance. Only in my case, the issue is whether or not to buy pet insurance for Scout.

Soon, she will be 6 months old, the age recommended for spaying, a procedure that will probably cost several hundred dollars, once tests and medications are included. A less invasive technique, done through laparoscopy, is far more expensive. And we’ve already spent quite a bit on vaccinations and routine checkups. Then there are possible future expenses, like an accident or a really severe malady, like cancer.

As with humans, pet insurance programs are complex; some are expensive, and it’s hard to tell for sure what kinds of illness and conditions will be covered. Most plans offer tiers of coverage, which grow in price depending on how expansive the coverage is, the breed of dog, where you live and other factors. For many pet owners, of course, neither veterinary care for complex health problems nor paying monthly pet insurance bills is affordable or even possible, so I know that having the choice is a luxury.

The costs I’ve checked out for Scout with two leading companies that offer pet health insurance range from monthly premiums of about $12 to $45. Ouch. Personal experience, discussions with a few trusted veterinarians and guidance from friends and fellow dog owners have tipped me in favor of buying the insurance, although I am still poring over the fine print and deciding among plans.

When he was a pup, Buddy, our dog before Scout, got into a box of chocolates (poisonous for dogs) that one of our children had carelessly left within reach. An expensive nighttime visit to the emergency clinic ensued. At midlife, Buddy also developed unbearable skin allergies, requiring tests and even biopsies, before a change in his diet brought the problem under control. What we spent on Buddy’s health issues (as well as the more serious problems we confronted with Dinah, recounted in an earlier column) probably exceeded the cost of insurance, even over his long life span. Read more...