You might view pet insurance as more of a luxury than a necessity, particularly given the high cost of living in California. In a state where living expenses can be significant, veterinary bills can also be steep, especially in the event of unforeseen issues with your beloved pet. Pet insurance serves as a means to alleviate this financial burden, allowing you to concentrate on providing care for your furry companion rather than worrying about medical expenses.
From San Diego to Crescent City, pet owners across California seek ways to mitigate the expenses associated with pet ownership. According to MetLife’s Pet Parent study, 62% of Gen Z and millennial pet owners in the state acknowledge that the costs linked to having a pet can induce stress. Pet insurance presents a potential solution to this concern. California residents who are pet owners can continue reading for an overview of how pet insurance can benefit them.
History of Pet Insurance
Pet insurance originated in Sweden in 1890, but it didn’t arrive in the United States until 1982, when the famous canine actor Lassie became the recipient of the first pet insurance policy in the country. Since its inception, the popularity of pet insurance has increased significantly. According to NAPHIA (North American Pet Health Insurance Association), the number of insured pets across North America reached 4.0 million in 2021.
Insurance is a contractual arrangement where an individual or entity pays a premium to an insurance company in exchange for financial protection against specified risks. In the event of a covered loss or event, the insurance company provides compensation or benefits to help mitigate the financial impact. The types of risks covered can vary widely, including health-related expenses, property damage, liability for legal claims, or loss of income due to disability or death. Insurance serves to manage uncertainty and protect individuals and businesses from significant financial losses.
What Is Pet Insurance?
Pet insurance is a policy purchased by pet owners to mitigate the financial burden of costly veterinary bills. Similar to health insurance for humans, this coverage helps cover all or part of the expenses incurred during veterinary procedures, which can often be expensive. It’s essential to assess and compare various pet insurance plans to find the most suitable one for your needs.
Like human health insurance, pet insurance typically includes a deductible, an initial out-of-pocket expense before coverage kicks in. Insurance premiums are often determined based on the average cost of veterinary care in the owner’s area. Additionally, it’s important to note that not all veterinary procedures may be covered under the policy.
Why Pet Insurance May Be a Good Idea If You Live in California
If you’ve ever received a vet bill, you’re aware of the potentially high costs associated with pet healthcare. This is particularly evident in California, where the cost of living has risen significantly in recent years. Pet insurance offers financial assistance by reimbursing certain medical expenses. Essentially, you pay a monthly premium for an insurance policy covering your dog or cat. Whether your pet experiences a sudden medical emergency or requires ongoing treatment for a chronic condition, you can submit the bill for reimbursement.
Spanning nearly 900 miles of Pacific coastline, California poses various environmental risks for pets, from frostbite in colder regions to heatstroke in warmer areas. Additionally, certain parts of the state are prone to wildfire and snake seasons. These environmental hazards, coupled with the potential for general illnesses and injuries, underscore the importance of safeguarding your pet and your finances. Protecting your pet against a range of potential issues, from wildfire smoke inhalation to fractures, can offer valuable peace of mind.
Read more Pet Insurance: Caring for Your Furry Friends
How Much Is Pet Insurance in California?
MetLife Pet Insurance offers policies tailored to meet your specific needs. You have the flexibility to customize your pet insurance policy, with options starting as low as $9 per month for cats and $15 per month for dogs. The cost of pet insurance in California can vary greatly, with a policy in Los Angeles typically being more expensive than one in Guerneville. The overall cost is influenced by factors such as your choice of deductible options and reimbursement packages, the number of pets covered under the plan, as well as their ages, breeds, genders, and species.
Discover some of the options available through MetLife Pet Insurance by obtaining a free quote today.
Additionally, to assist with both routine annual expenses and unforeseen emergencies, pet owners can purchase insurance policies that help offset certain out-of-pocket costs. Similar to human healthcare insurance, pet owners typically pay either a yearly or monthly premium. Several factors influence the cost of pet insurance:
- Species: Dogs generally incur higher costs compared to cats due to their larger size and higher frequency of claims.
- Breed: Certain breeds may have predispositions to specific illnesses and injuries.
- Gender: Males tend to have more claims filed compared to females, resulting in lower insurance costs for females.
- 4. Age: Older pets typically incur higher insurance costs due to age-related health issues.
- Location: Insurance premiums are usually higher in major metropolitan areas compared to suburbs and rural areas.
According to the 2022 State of the Industry Report from the North American Pet Health Insurance Association (NAPHIA), the average annual premium for pet insurance (covering accidents and illnesses) in the U.S. was $584 for dogs and $343 for cats in 2021. The total gross written premium (in-force) was $2.3 billion for dogs and $300 million for cats.
NAPHIA also indicates that the average co-pay amounts to 80% of the claimed amount, although some companies advertise offering 90% or even 100% coverage for certain procedures.
For young pets that typically only require yearly checkups, the cost of insurance may exceed the expenses for services. However, in the event of an emergency, veterinary care costs could surpass the insurance premium. On the other hand, insurance coverage for senior pets, who usually require more procedures, could result in savings regardless of whether an emergency occurs.
Average Veterinary Care Costs
Throughout history, humans have shared a deep bond with animals, welcoming them into their homes and hearts. In many cases, pet owners view their pets with the same affection and care as they do their own children. Advancements in veterinary medicine have enabled pet owners to access a wide range of procedures for their animals that were previously reserved for humans. However, these procedures can come with a hefty price tag. According to a June 2022 article from Betterpet, the average cost of an emergency exam ranges from $100 to $200, while an overnight stay can average between $1,000 and $2,000.
Routine pet care typically includes annual exams, vaccinations, blood work, and dental cleanings. However, there has been significant growth in specialized areas of pet care, such as neurology and oncology. Pets, like their human counterparts, may also experience medical emergencies. According to the ASPCA, the annual costs for routine medical expenses, including vaccines and wellness visits, ranged from $160 to $220 in 2021.
For some prospective pet owners, the potential for high medical expenses can act as a deterrent to adopting a pet. Additionally, for those who do adopt, the possibility of costly procedures and medications may lead to the difficult decision of euthanizing a pet due to financial constraints, a situation often referred to as “economic euthanasia.”
Is Pet Insurance Worth the Price?
Even for a healthy pet, there are essential expenses that a new owner must handle. Consider this hypothetical scenario: When the Fosters adopted Rufus, an adult rescue dog, they anticipated some significant costs in the first year. These included routine medical treatments like vaccines and wellness visits (approximately $225 annually), preventative medications for heartworm and flea/tick prevention (around $185 annually), and the cost of spaying or neutering ($300).
In total, the Fosters estimated that they would need to budget approximately $710 for their new pet’s first year in their home. If Rufus encountered any additional health issues during the year, such as requiring extra blood work, medications, or an emergency vet visit, the costs would increase further. Given that the average price for pet insurance in 2021 was $584, as mentioned earlier, it made financial sense for the Fosters to invest in insurance during Rufus’s first year.
However, in the second year, the Fosters decided to forgo pet insurance and pay for any medical expenses out of pocket.
What Pet Insurance is covered in California?
Various insurance policies are tailored to cover different aspects of pet healthcare. You can start with a basic plan that covers essential pet healthcare needs, or opt for a comprehensive policy right away. These policies come with customizable limits, deductibles, and reimbursement rates, allowing you to tailor the coverage to suit your dog or cat’s needs.
While some policies may offer more extensive coverage options, our standard pet insurance policies typically cover the following:
– Diagnostic tests, X-rays, and ultrasounds
– Examination fees
– Hospitalization
– Surgical procedures
– Treatment for accidents and illnesses
– Holistic care and alternative therapies
– Specialized diet pet foods
How to claim pet insurance in California
- Contact the claims department of your pet insurance provider.
- Provide your insurer with information regarding your pet’s situation and the associated expenses.
- If your pet requires medical attention and is currently undergoing treatment, provide details about the condition and the necessary treatments or procedures.
Pet Insurance Claims in California
Let’s take a closer look at some significant pet insurance claims in California and delve into why pet insurance is valuable. Here are a few real-life examples of veterinary medical visits, treatments, and the corresponding reimbursements:
– Approximately $10,000 reimbursed for hospitalization due to a bite wound in a 1-year-old small cat in Santa Clara, CA.
– Around $1,600 reimbursed for surgery to remove a meibomian cyst from a 6-year-old medium dog in San Diego, CA.
– Approximately $700 reimbursed for setting a fracture in a 2-year-old cat in San Diego, CA.
– Roughly $600 reimbursed for an examination to treat environmental allergies in a 2-year-old bull terrier in San Diego, CA.
– Approximately $200 reimbursed for prescription medication for a heart murmur in a 10-year-old mixed dog just outside of San Diego, CA.
Notable Claim in the Golden State
Just a month after being adopted, Riley, a poodle puppy, went on a hike. During the outing, the curious pup ingested foxtail, a grass that, while non-toxic, poses significant danger to dogs. Ingesting foxtail can cause various health issues, such as swelling in the brain or puncturing a lung.
When Riley began displaying symptoms, they were promptly taken to an emergency veterinarian. There, they received treatment and were closely monitored. The total cost of the vet visit amounted to about $4,500 for Riley’s parents, but their MetLife Dog Insurance policy covered approximately $3,300 of the expenses. Fortunately, Riley responded well to the treatment and continues to enjoy hiking with their parents.
Conclusion
Visiting the vet with your pet can be a stressful experience, particularly if your pet is seriously injured or ill. In such moments, your primary concern is often nursing your pet back to health. However, the looming uncertainty of veterinary expenses may also weigh heavily on your mind.
Pet insurance serves as a financial safety net in such situations. By reimbursing vet charges for accidents and injuries, it alleviates the fear of facing a substantial bill when seeking necessary medical care for your pet.
Knowing how to file a pet insurance claim before an emergency arises can help alleviate anxiety surrounding the entire ordeal.