Pet insurance rates, just like rates for humans, are determined by the mathematics of risk. Insurance companies must keep their rates low enough to remain competitive, but high enough to cover claims and be profitable.
“If insurance actuaries know your pet’s breed, age and place of residence, they can estimate the cost of medical treatment during the animal’s lifetime. They base predictions on medical data, but location is important since treatment is more expensive if you live in a large urban center,” (Fox Business).
One of the keys to saving money on pet insurance is to buy it while your pet is young and free of disease. “If you were to count raw numbers of insurance claims for cats and dogs, ear infections would be very high on the list, as would diarrhea, gastrointestinal issues and skin allergies,” (Fox Business).
For dogs, VPI found that the most claims in 2012 were ear infections, followed by skin allergies, skin infections, gastritis and diarrhea. For cats, the top illnesses were “lower urinary tract disease, gastritis, chronic renal failure, hyperthyroidism and diabetes,” (Fox Business).
Pets are living longer, healthier lives… They can do almost anything for a pet [that doctors] can do for a human. They can treat them for cancer. They can replace their hips and knees. Things that would have caused a pet to pass away at one time can be treated,” (Fox Business).
Many people don’t have insurance for their pets, and find out how expensive costs are without it when it’s too late.
Below are the top 10 pet medical conditions:
Dogs– Ear infection, skin allergy, skin infection/hot spots, gastritis/vomiting, enteritis/diarrhea, arthritis, bladder infection, soft tissue trauma, non-cancerous tumor and hypothyroidism.
Cats– Lower urinary tract disease, gastritis/vomiting, chronic renal failure, hyperthyroidism, diabetes, enteritis/diarrhea, skin allergy, periodontitis/dental disease, ear infection and upper respiratory infection.
Schedule an appointment at The Bregman Vet Group to ensure your pet is at optimum health.