Dog medical care insurance works pretty much the same as any insurance you can purchase for yourself and your family. For a reoccurring premium payment, you are protected against unexpected costs due to your dog's health or if the animal bites somebody or causes an accident that results in injury or property damage. The insurer creates a risk pool and determines the individual premiums based largely on the breed, age and health history of the dog. Veterinary medicine has improved by a significant amount recently and much more can be done to improve your pet's longevity and quality of life. With those advances however have come escalating charges and fees that are now skyrocketing by about 10% a year. By pooling risks thru obtaining insurance, the owner avoids having to make the difficult call between providing for their pet's health or spending money they can't afford.
There are numerous types of dog insurance plans. Some cover accidents and emergencies, while others provide repayments for routine vet care. Medication might be included in the basic plan or covered at further cost. Some plans reimburse a percentage of the total vet bill. Others only cover common and customary charges, which are based largely on averages established by the insurance company.
Dog insurance is not an one-size-fits-all product and your individual circumstances must be considered before making a commitment to a policy. If you have got the financial resources to cover a massive sudden vet cost that might run into thousands of dollars than you are in effect self insured and do not need pet insurance. Dog insurance companies must earn money so like all insurance plans the premiums collected and the investment return on those funds must exceed the total anticipated outlay in costs across the entire pool of buyers. However most dog owners do not have that degree of financial flexibility so dog insurance could be a good choice to hedge their bets against future sickness. If you're going to insure your dog it is almost always a good idea to start when it's a young, healthy puppy dog and take advantage of any discount programs the insurer might be offering.
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