Is pet insurance worth it in Maryland?
Given the increase in cost of regular healthcare and veterinary bills, pet owners are more likely to be burdened with annual medical expenses for their pets. The hefty medical bills can also be due to regular checkups, vaccinations for your pets, grooming sessions, and emergency hospitalizations.
Sometimes, pet owners can go into debt in the bid to pay for their pet’s medical bills. With pet insurance, you can have a sense of relief that your pet can receive the medical attention it requires at any given point, and you can also reduce the chances of financial risk for yourself. Being in a position where you have to choose between your pet and your financial situation can be overwhelming, hence the reason why many pet owners choose to insure their pet as soon as possible. In other words, buying your pet an insurance plan can avert any complication that might arise due to an emergency or chronic illness.
It is also recommended you insure your pet from a young age because any pre-existing medical conditions are often not covered under an insurance policy.
What types of pet insurance plans are in Maryland?
Before you choose an insurance plan for your pet, you will want to have a clear understanding of what each policy covers. The following are the main types of pet insurance policies:
- Accident-only plan: This plan will cover treatments that are associated with an accident such as fractures, burns, injuries, and surgical procedures. Medications, hospitalizations, and treatments related to the accident are also covered under this plan.
- Accident and illness plan: This insurance policy will cover your pet’s accidents and illnesses such as cancer, allergies, toxic ingestion, or broken bones. Under this policy, your pet’s routine check-ups, maintenance, and preventative care will not be covered.
- Wellness plan: With this plan, you can provide your pet with routine and preventative care. This may include vaccinations, veterinary check-ups, dental care, and more. You can add this option to any pre-existing plan for more holistic coverage or purchase it as a stand alone plan.
- Comprehensive plan: This plan encompasses coverage for serious illnesses, accidents, wellness care, and hereditary conditions.
What does pet insurance cover and exclude?
The following are most commonly covered under pet insurance policies:
- Vaccinations: Most insurers cover annual vaccines against core diseases like rabies, canine distemper, and feline panleukopenia. Some also cover vaccinations for other conditions such as Lyme disease and West Nile virus.
- Treatment for illness or injury: This includes emergency medical treatment for an illness or injury. This policy also covers x-rays, medications, and surgery.
- Routine and preventative care: This includes wellness exams, routine lab tests, and other regular maintenance services you may be seeking for your pet. Heartworm testing and flea/tick preventatives are also included.
- Diagnostic testing: This includes imaging such as ultrasounds, CT scans, MRIs, and more.
The following is a list of exclusions you should be aware of when looking at pet insurance policies:
- Treatment or diagnosis of pre-existing conditions: Pet insurance will not cover the cost for treatment or the diagnosis of pre-existing conditions.
- Injury or illness with intent to cause harm: Pet insurance will not cover injuries or illnesses that were provoked by abuse, neglect, self-mutilation, or any other intentional act on the pet owner’s part.
- Breeding, pregnancy, and whelping: Pet insurance does not cover expenses related to breeding, pregnancy, or the whelps (i.e., newborn pups) if the mother dog dies during pregnancy or the whelping process. This would include transportation costs to and from the veterinary clinic, medications, and surgeries related to whelping.
- Additional veterinary facility fees: If your veterinarian charges more than the fee agreed upon in your policy, pet insurance will not cover the difference.
- Elective veterinary procedures: Any elective veterinary procedures will not be covered by the insurer in a basic plan. Examples of these procedures include dental care, routine surgeries such as spaying (for females), neutering (for males), and declawing. However, many policies do offer an add-on option if you would like to have coverage for elective care.
How much does pet insurance cost in Maryland?
In Maryland, the monthly premium rates can be affected by different factors such as your location, your pet’s age, breed, and type of species. Usually, you are expected to pay for a standard insurance loan between $15 to $100 monthly. Here are some further details about the factors that can affect the monthly premium:
- Age: This is one important factor that will affect the cost of your pet insurance. Older pets tend to require more medical treatments than younger pets, hence the higher cost of coverage. In order to ensure your pet has coverage and to lower your cost, you should sign up for pet insurance as soon as possible.
- Breed: There are several different types of dogs or cats, so the cost can vary depending on your pet’s breed. For example, specific breeds of dogs are more prone to serious injuries like cruciate ligament ruptures, which can require consistent veterinary visits. To ensure your pet remains healthy, you might have to pay more for an insurance plan.
- Type of species: Most times pet insurance policies for dogs are different from those for cats, so the prices will differ as well. Since dogs are prone to having illnesses or accidents that are more expensive to treat, the cost of a dog insurance plan will also be more expensive in comparison to cats.
What are the veterinary costs in Maryland?
In the state of Maryland, veterinary costs for dogs and cats are higher than the national average. The following are some examples of veterinary services and their costs in Maryland:
| Veterinary service | Cost |
| Liver disease | $2,000- $5,000 |
| Heart disease | $5,000- $20,000 |
| Skin tumors | $2,000- $10,000 |
| Hip dysplasia | $4,000-$6,000 |
| Cancer | $5,000 – $20,000 |
How to choose the best insurance in Maryland
Before you finalize your decision on a pet insurance policy, remember to keep these key factors in mind:
- Compare plans: It’s always a good idea to compare policies from different agencies and see what each has to offer. Some plans could also have promotional discounts so consider all your options before choosing a plan that best fits your pet’s needs.
- Consider your budget: When choosing a plan, you should consider the kind of deductible you would want to subscribe to, based on your budget. There should be a selection of plans with a higher deductible and that of the lower, but your deductible will depend on the type of coverage you’re seeking. Factor in all your costs to get an accurate monthly premium calculation.
- Customer feedback: Customer reviews can give you a brief idea of how a company renders its services, and what to expect if you file a claim. Consider and compare several insurance companies and narrow down your options. This will also help you finalize your decision.