"This is Roxie and this is Cody," says Sara Mitchell as she points to her two Golden Retrievers.

She says the three year old and six year old dogs are her pride and joy and like members of the family. After losing her first dog, Mitchell decided pet insurance was a good idea. "that dog got so sick," she says. He had seizures and we ended spending about $10,000 or more out of pocket on him," Mitchell says. "We didn't just want to let him die."

There's no doubt that pet owners are paying plenty out of their own pockets for pet care. Last year, they spent $20 billion dollars at veterinarian offices. Now, at least some are trying pet insurance to see if the cost of up front premiums is worth it.

For Mitchell, it has been. She says just two weeks ago, her dog Roxie had a severe reaction to medication. "We had to rush her to the emergency Vet that night," says Mitchell. "That was 300 dollars plus the Vet that day was also 300 dollars. So, we had a 600 dollar bill and we ended up getting half of it back through the insurance."

Dr. Stanley Lester, a veterinarian in Savannah, says keeping a pet healthy has always required some financial commitment from the owner. He says depending on the kind of pet insurance you buy, it may not be that much of a savings when animals are younger. "On the front end when you're having routine pet costs with new puppies and new kittens you're probably not saving money," Lester says.

But Dr. Lester believes insurance may be very important as a pet gets older. He says technology is now allowing veterinarians to diagnose and treat more conditions and diseases, such as cancer.
"In particular, if you've got to be referred to a specialist and that's covered under your insurance that's where the money savings is going to come in."

However, Angela Carter of Savannah, isn't a fan of pet insurance. "For one thing it was very confusing what they did pay for," she told me. Carter bought insurance about five years ago, but later dropped it saying it didn't seem the money or the trouble. "It was just a 200 dollar a year policy but then they kept tacking on extras. If you wanted more coverage you had to pay for it," she says.

Carter also says getting reimbursed was cumbersome at best. Staff at her Vet's office had fill out forms and she says she often had to wait several hours until they had time.

Mitchell says things have improved in recent years. "See they've changed that now. You don't have to have the Vet's office fill it out anymore, "she says. "Now you can sign it yourself and fax it."

Still, Mitchell advises pets owners to do their homework. We found various websites offering pet insurance. The links are below, but before you check out the company, you may want to read this information from the Insurance Information Institute:

Pet insurance premiums include deductibles, co-pays and caps. And like human insurance, the cost of coverage is based on the animal's age, health profile and the level of care the owner chooses to buy. There are also exclusions for pre-existing conditions and generally, the older the animal -the higher the annual premium will be.

There are policies available for dogs, cats, rabbits, ferrets, exotic bird, reptiles such as iguanas, potbelly pigs and even various rodents. The Institute says "most companies will begin insuring a pet at 6-8 weeks old. Additional pets are usually covered at a reduce rate after the first pet is enrolled."

There are three types of pet health coverage available.

Traditional Health Insurance

These plans are similar to human health insurance policies. The companies that sell them are licensed in the states where they do business and are subject to the rules and regulations of each state.

Basic Coverage

This is the least expensive coverage and provides the lowest reimbursements for procedures. It will help pay for accidental injuries, poisonings and illnesses, including cancer. A typical policy will include a cap on reimbursements per accident or illness, and will have a cap on total reimbursements per policy term. The annual premium for a healthy 3-year-old mixed breed dog would run about $140. Deductibles run from $75 to $100 per year.

Comprehensive Coverage

This coverage is more expensive but the reimbursements are more generous. The plan also provides reimbursements for accidental injuries, emergencies and illnesses as well as covering office visits, prescriptions, diagnostic tests, x-rays, and lab fees. The plan also includes caps on reimbursements per accident and illness, and a cap on total reimbursements for policy term. Annual premiums for this type of coverage for the same 3-year old mixed breed dog run approximately$250 per year. Deductibles run from $75 to $100 per year.

Pet Well Protection

This type of plan reimburses for preventive care, including physical exams, flea and heartworm prevention and vaccinations. Premiums for this type of coverage are approximately $144 per year. Whle there is no deductible for well care, there is a $50 deductible for other medical services.

HMO Coverage

Some vets offer wellness packages, which offer discounted prices on vaccinations, spay/neuters and dental cleanings. Some also offer geriatric health checkup packages. These are not insurance policies and are not subject to the same rules and regulations required of insurance companies.

Discount Plans

These plans offer a discount for veterinary services and some supplies. One national program offers 25 percent savings on all veterinary services including surgeries and hospitalizations, and up to 50% on pet supplies. You must go to participating veterinarians and pet vendors to take advantage of this program.

Links:

http://www.petinsurance.com/

http://www.trupanion.com

http://www.petsbest.com/gettingstarted/learnmore.aspx

http://www.petcareinsurance.com/

http://www.unionplus.com/pet-insurance.cfm

http://www.embracepetinsurance.com/