Health insurance for our pets is an option growing in attractiveness to many who consider their pet a full-fledged family member. More policies have been sold in the last year and a half than in the last 20 years, with the average monthly cost being between $9 and $25. However, pet health insurance may not be for everyone.

Some newer policies cover regular check-ups and routine care. This may not be a benefit seeing as routine care that is covered usually costs less than the insurance premiums. Economically, pet insurance that covers unexpected, expensive health care costs make better sense. If you had to pay out of your own pocket, would you seek treatment of internal injuries from an accident? Would you pay for needed cancer treatment? Odds are, your pet will never need such care, but if he does, you might welcome the coverage when faced with a $2,000 bill. Key questions to ask yourself: Would I be able to afford a sequence of treatments that might add up that high? Would I feel forced to euthanize my pet if I could not come up with the money to pay?

Deciding to purchase a health insurance policy for your pet may not be an easy decision. In many cases, preexisting medical conditions are typically excluded from coverage. Many companies that sell the policies in the past have gone out of business leaving policyholders hanging. If you decide to purchase a policy, make sure you are familiar with the fine print explaining what is covered and what is not.

10 THINGS TO CONSIDER WHEN BUYING A POLICY:

1. Is the rate of the policy related to the age of my pet?
2. Are preexisting conditions excluded?
3. Does the policy cover the cost of routine care such as vaccinations?
4. Does coverage include spaying or neutering?
5. What specific disorders are excluded from coverage? Are cancer therapies covered? What about coverage for injuries sustained in an accident?
6. Is there a requirement that your pet be kept inside at all times and, if taken out, only in a carrier?
7. What is the deductible? Are there additional charges after the deductible is satisfied?
8. Do you have to use specific veterinarians or clinics or can you choose the provider of your choice?
9. Who has the final say about whether or not a procedure is necessary or will be covered?
10. Buy the level of coverage you really need: Ask yourself if you're likely to use that $14,000 annual limit a company highlights.

Reference: "Pet Health Insurance" Cat Watch, Cornell University College of Vet Med., July 2001