Dog owners naturally want to make sure that their dogs can receive the care they need in the event of an accident, illness, or even a routine checkup. The problem is that many types of services that are offered by veterinarians are prohibitively expensive. It is not uncommon for a simple procedure (for example, a tooth extraction) to cost nearly $1,000. More complex procedures can cost far more. In fact, it is estimated that pet owners will spend in excess of $11 billion in 2008 for veterinarian care (according to the American Pet Product Manufacturers Association).

Some owners opt to buy a pet insurance policy for their dog to cut costs. In this article, we will briefly describe how pet insurance works and whether it is the right option for your dog.

How Does Pet Insurance Work?

Pet insurance works similarly to health insurance. Dog owners can select from a number of different policies, each offering varying levels of coverage and associative premiums. And similar to health insurance, the price of the premiums will reflect the relative age and health of your dog. Many policies also carry adjustable deductibles and even co-payments. Plus, some policies will exclude conditions that are either hereditary or pre-existing (more an issue for dogs that are purebred).

The industry has expanded over the past decade and policies now offer a lot of variability. For example, some will cover accidents and injuries, while others may only offer partial coverage for older dogs and might entirely exclude dental procedures. Because there are so many different types of coverage, premiums vary widely (though between $5 and $40 a month is common).

Questions To Ask

Before investing in a pet insurance policy for your dog, find out how payment and reimbursement works. Also, ask whether the premiums will increase over time or if they will remain level over the long-term. You should ask about coverage limits, deductibles, and find out about any procedures that are not covered by the policy. Finally, ask whether it covers the ongoing costs of medications if a veterinarian recommends them.

Making The Choice

Pet insurance is not the best choice for every owner. If your dog is older or suffers from chronic health problems, it may be a poor investment. After all, your dog is unlikely to be fully covered and the premiums will probably be high. Plus, many owners will not want to subject an older dog to a major operation, given a dogs age and health.

Speak with a veterinarian about the prospect of getting pet insurance coverage for your dog. He will be able to provide an unbiased opinion based upon your dogs current health and age. As long as he's not receiving a commission for the insurance policy, you can feel confident in your decision to insure your favorite companion.