Should i get pet health insurance

The older your animal, the more you’ll have to shell out that much for treatments. But if you’re the type of person who would do anything to save your pet, including spend thousands of dollars on medical treatments, pet insurance might be a preferable alternative to going into debt. An enterprising group of students won the 2003 Annual Wharton School Business Plan Competition, not with a technology plan or a biotech venture, but with a simple business plan highlighting the large opportunity for growth that exists in the pet insurance market. "It's great to see so many companies recognize the importance of adding new benefits like pet insurance for their employees," said Bill Gorman, VPI group sales manager. "A company may elect to have pet insurance coverage with as few as 100 eligible employees." According to 2002 figures from the American Veterinary Medical Association, there are more than 61 million dogs and 69 million cats in the U.S., with approximately 300 species of birds kept as pets. More than 60 percent of U.S. households own a cat or dog. More than 91 percent of pet owners take their dogs and cats to the veterinarian for vaccination and preventive care. In addition, avian care is increasing. In 1991, consumers spent $37.7 million on veterinary medical expenditures for birds, increasing to $140 million by 2002. "When we added the Veterinary Pet Insurance plans. VPI plans are available for dogs and cats, and while both provide the same coverage and carry the same per incident deductible, they differ in benefit schedule allowances, the maximum amount allowed per year and premium amounts. VPI's premiums are the same whether the animal is a show pet, a guard dog, or a Seeing Eye dog. You may not know it, but pet insurance has been growing at an annual pace of 45% over the last 5 years. A few years ago, pet insurance would have ranked right up there with policies on children and dread disease coverage on my list of insurance you don’t need to buy. The oldest company, Veterinary Pet Insurance, Pet Protect,. Sould gt pt healh insuranc - Shojld k geg let heaoth unsurance.