The Other Health Insurance Debate

A reader writes:

I insure my seven guinea pigs. Their vet care runs into the thousands even with the insurance. I am quite savvy and turn down care and tests they don't need.

(The pet healthcare system is increasingly like the people healthcare system: more technology, more expensive tests, vets/doctors always giving you more "options".) Insurance has a moderate financial benefit, but it's also a pain in the butt.

Pet health insurance companies resemble their human counterparts. Most of the same rules apply--maximum allowed fees for certain services, pre-existing conditions, procedures not covered, etc. They are notoriously bad at honoring the terms of their policies. I have to hound them to pay claims, and sometimes they still won't pay what they are obligated to under the policy. There is only one company that insures "exotics" (which for some reason guinea pigs are classified as), so this company has a monopoly on my business at the moment.

There are websites with reviews of pet insurance companies. Some merit better reviews than others, but many people take insurance companies to small claims court. If your dog gets a fish hook caught in its mouth, or your cat is hit by a car, you might still have to worry about paying for it even if you got a policy for your pet.