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Resource Center Dog Ownership Does Your Pup Need Insurance?

Does Your Pup Need Insurance?

New puppies absolutely love to explore. The whole world is full of interesting smells, new people, and new things to bark at! Not all of these new things are good for a small puppy though, as anyone who has had a pup get into their chocolate stash can attest.

This is where pet insurance comes in. Just like human health insurance, pet insurance allows you the peace of mind to know that if anything goes wrong with your new pup, your pup's medical bills are covered. But what is pet insurance, really?

What is pet insurance?

Pet insurance comes in a few different varieties, but the most common is accident insurance. You can think of this catastrophic coverage for your pup. If she accidentally eats a peach pit or gets into a tangle with a car, every pet insurance plan will cover at least part of the cost.

Pet insurance plans are different from human plans, because you can often customize your deductible (the amount you pay before the insurance starts covering costs), adjust your co-insurance rates (this is the percentage of the vet bill that you pay vs. what the insurance pays) and choose plans with or without an annual policy limit. Lower deductibles and lower co-insurance payments typically make your monthly premiums higher, but decrease the odds of a large out-of-pocket cost in case of illness or injury. Setting an annual limit can lower your monthly premium, but sets an upper limit on how much the insurance will pay out in any given year. PuppySpot has a great comparison site where you can easily adjust your deductible, annual limits, and other insurance options to see how that could affect your premium.

Pet insurance plans also have waiting periods of 15-30 days before coverage starts. We recommend signing up for your insurance plan before your pup arrives so that she will be covered from the moment she gets home, but you can also ensure older pets who are already in your home.

One other thing to keep in mind when comparing pet insurance options is that they are not required to cover wellness visits, illnesses, or preexisting conditions. This is why it is especially important to choose your plan carefully and to insure your puppy early while you know that she is healthy.

What kind of coverage should I get?

The type of coverage you get will depend on what your needs are. If you feel confident that you could cover any health-related costs for your pet, you may not need insurance at all. But for those who prefer to avoid unexpected pet-related expenses, it's important to consider what kind of financial impact you're willing and able to cover for your pet and insure them accordingly. If you're able to pay for an unexpected $1,000 vet visit, then you could keep your insurance minimal, perhaps only covering injuries and hereditary illnesses. But if you're willing to pay a bit more every month to avoid a large bill from the vet, it may be better to select a low deductible or co-payment. Luckily, pet insurance is very customizable and can be adjusted for your needs.

How do I compare insurance options?

PuppySpot has you covered! You can get a customized quote for your puppy and easily compare insurance providers, adjust policy limits, and much more.

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