![]() ![]() Generally, the less reimbursement you choose to receive, the lower your monthly premium will be, and vice versa. This means that when you submit a claim, all the charges that fall within the coverage limitations will be paid back to you at whichever percentage you chose when you enrolled your pet. Most plans offer between 70-90% reimbursement. Issue 1: How much will I be reimbursed, and do I have options? The more you know about these plans and the industry in general, the more likely you are to choose a company that you're ultimately satisfied with.Īs you begin your research, keep in mind that this can be an overwhelming thing to consider, especially for first time pet parents or for those choosing to use pet insurance for the first time! If you're new to pet insurance and looking for the basics, check out part one of our pet insurance series for some of the highlights. In today's post, we’ll get into some of the specifics of pet insurance plans and explore how the fine print in your policy can affect your wallet. While there's no way to know for certain until you sign up for a policy and experience a company's claims process for yourself, there are many aspects of pet insurance plans that can help shed light on how happy you'll ultimately be with that company. If your dog or cat develops a chronic condition and you're unhappy with the way your insurance provider handles your claims, you cannot switch companies unless you're willing to accept that the condition that made you choose to switch will no longer be covered. Still, because pet insurance does not cover pre-existing conditions, pet owners really only have one chance to get it right. As the market for pet insurance grows, the increase in the number of companies offering insurance is actually working to the benefit of the consumer, leading companies to design plans that are more likely to benefit their customers in order to avoid being edged out of the market by their competition. This data is for anecdotal purposes only.There's no doubt that pet insurance is growing in popularity. AKC does not guarantee that these statistics are scalable to the overall population. Self-selecting methods were used in recruitment for this study.Many lived in a suburb (34%) or urban area (28%). Respondents were primarily females (76%) between the ages of 35-54 (47%).A total of 1,001 surveyors responded voluntarily to 11 questions. The survey was conducted by the American Kennel Club during a two-week period in July 2004.General Supplies: bowl, crate, leashes $350.68.8% in the suburbs, 70.2% in small town, and 75% in rural areas). ¾ Only 60.4% of people in city/urban areas felt costs were about what they expected (vs. only 3% who said it was less than anticipated. Twenty nine percent said costs exceeded expectations, vs. Nearly 68% said the costs of dog ownership were about what they expected.Less than 14% said the cost deterred them “significantly” or “quite a bit.” ¾ People in city/urban areas – more than any other area – felt the cost might deter them from getting another dog (40.6%) Forty seven percent said the cost of dog ownership would not deter them from getting another dog.The only exception was medium dogs, which cost slightly more to care for annually ($2,628) vs. Giant dogs cost the most ($3,321) to care for annually, vs. ¾ The price of owning and caring for a dog decreased with the size of the dog, no doubt mainly due to food consumed. ¾ Not surprisingly people in rural areas and small towns were more likely to have a large dog (53.4% and 52.7% respectively) while slightly fewer (43.8%) urbanites had large dogs. The smallest percentage (6.7%) owned a giant dog (Great Dane, Mastiff). Over 40 percent (42.7%) owned a large dog (Labrador Retriever, Golden Retriever, German Shepherd) 22.5% owned a medium dog (Cocker Spaniel, Corgi), the same number a small dog (Boston Terrier, Shih Tzu) and 11.7% a tiny dog (Chihuahua, Yorkshire Terrier).Annual costs averaged $2,500 for a dog’s food, grooming, vet check ups, pet-sitting fees, etc.One-time costs such as a crate, spaying/neutering or emergency vet care, ran an average of $2,100.An online survey of more than 1,000 visitors to determined what responsible owners can expect to pony-up for their pooch: While the benefits of pet ownership far outweigh the costs, every responsible dog owner knows that along with love and companionship comes financial responsibility.
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