Adopting a rescue dog? Here’s what to know about pet insurance

Adopting a rescue or shelter dog does more than just provide a home for a deserving animal. It can be a playmate for your children, a jogging companion for you, and a devoted companion for everyone to cuddle with on the couch. However, a new pet may come with unexpected vet bills, which is why you should think about pet insurance.

Pet insurance policies can help pay for treatment if your pet becomes ill or injured. They may also cover vaccinations and other routine care in some cases. Here’s how to decide if pet insurance is a good idea for your rescue dog.

Determine the cost of veterinary care.

It’s impossible to predict which medical issues a particular pet will face in the future. According to Dr. Antonio DeMarco, chief medical officer at GoodVets, a chain of animal hospitals with locations across the United States, researching the breeds you’re interested in can help you get a sense of which health conditions are most likely to crop up. According to him, some of these conditions can be both serious and costly to treat.

Large-breed dogs, such as golden and Labrador retrievers, are predisposed to hip dysplasia, a deformity of the hip joint. Some dogs may require surgery to treat it, which can cost thousands of dollars.

A local veterinarian can advise you on potential health issues and how much it may cost to treat them. They can also assist you in estimating the cost of routine care.

Recognize pet insurance

Pet insurance is unlikely to reimburse you for every dollar you spend at the vet. Most policies, for example, will not cover pre-existing conditions that your dog had before you purchased the policy. If you adopt a senior dog with diabetes, you will be responsible for the treatment.

For the same reason, you can’t simply wait until your vet diagnoses an injury or illness before purchasing a policy. Pet owners have asked DeMarco if they can buy insurance after their dog tears an ACL. “[You] sure can, but this isn’t covered,” he says.

Most pet insurance policies cover illnesses and injuries but do not cover routine care unless you purchase additional coverage. According to Maureen Sosa, director of pet support at the Humane Rescue Alliance in Washington, D.C., that coverage may be worthwhile for certain dogs. Smaller dogs are more prone to dental disease and benefit from regular cleanings, which are covered by wellness plans.

Check for deductibles and copays when shopping for pet insurance. Assume your plan pays 80% of your expenses once you’ve met your $500 annual deductible. That means you’d have to spend $500 on your pet’s treatment in a given year before your insurance kicks in.

A maximum payout limit, such as $5,000 or $10,000 per year, may also be included in your policy.

Get pet insurance quotes

According to the North American Pet Health Insurance Association, the average cost of accident and illness coverage for a dog is around $640 per year. However, depending on where you live, the coverage options you select, and the breed and age of your dog, you may pay more or less.

Most pet insurance companies offer online quotes. Check rates from at least three different companies to ensure you’re getting the best deal on the coverage you need.

Pet insurance is not cost effective for every rescue dog. Policies for older dogs may be prohibitively expensive, especially if they already have chronic conditions that the policy does not cover. In these cases, you may be better off foregoing insurance and instead establishing an emergency fund for vet bills.

Think about your peace of mind.

One of the most significant advantages of pet insurance is the avoidance of heartbreaking financial decisions. Sosa has witnessed pet owners being forced to surrender their animals because they could not afford to treat their medical conditions. “The economy is in a really bad place,” she said. “That’s trickling down and affecting what people are able to afford.”

Worse, some owners may be forced to euthanize their dogs if the treatment for a serious condition is simply too expensive, according to DeMarco. “As veterinarians, that is the worst-case scenario for us.”

You could go years without using your pet insurance. However, having the policy can provide peace of mind in a crisis, according to DeMarco. It’s likely that “if those situations arise, you’re going to be able to handle them financially and not have to make decisions based on finances rather than what’s best for your animal.”