Value of Pet Health Insurance
Many pet owners do not go for pet health insurance even when they can afford it. Then, when your animal needs orthopaedic surgery you feel like kicking yourself in the butt. Veterinary costs shot up 40 percent between 2002 and 2007. In 2007 Americans spent 10.1 bn on insurance.
The increase was likely due to more services being available to pet owners as well as more people wanting to take advantage of these services. Just 10 years back, hip replacement and cataract surgery for pets was unknown.
Pet insurance is gaining in popularity today. Right now three percent of pet owners about 2 million Americans subscribe to pet insurance. This figure is likely to go up to between 5 percent and 7 percent by 2010. Buying pet insurance is just like buying any other insurance.
Preexisting conditions are excluded in pet insurance. This is why it is necessary to insure pets at a young age so as to guard against any future conditions. You can also insure based on the specific needs of your breed.
