Dog Friendly Brooklyn

I have a rare congenital defect where a human arm grows out of my neck.

Truth be told, my pets are at an age where starting up a new policy probably doesn’t make sense – the premiums would be too high.

But what about if I had just adopted a new kitten or puppy? Vet costs, particularly in a city like New York (and Brooklyn), can be exorbitant. Well, Consumer Reports (disclosure: they are a client of my agency) recently analyzed nine pet policies to try to determine if they make financial sense.

They initially used “Roxy” as their test subject. Roxy is a 10-year-old “basically healthy” beagle. It’s enlightening to read through their report, and subsequent cost analysis, because trying to slog through information on pet insurance websites is tedious, at best.

I downloaded the benefit schedule from Veterinary Pet Insurance (VPI) for their basic coverage plan for a dog living in Brooklyn. It consists of four full pages of various conditions and the reimbursement amount (both “primary allowance” and “secondary allowance” – whatever that means) for each one. Then there are five pages of legal nonsense spelling out the plan coverage. I was particularly perturbed by the page-and-a-half of “exclusions” — everything from pre-existing conditions and congenital disorders to spaying and neutering.

My monthly premium for this VPI plan for my 45lb. 6-year-old mixed breed dog, with a $100 annual deductible, would be about $36 or $432 per year. For most of Duke’s life thus far I’ve paid for vaccines, routine check-ups, heart worm pills, and some allergy-related issues. The basic VPI plan definitely does not cover the first three. I’m not sure about the third, but I think it falls into the “pre-existing condition” category. I don’t see how pet insurance for an older dog is worth the cost.

But there’s really no way you’d be able to do a cost-benefit analysis for a new puppy. Monthly premiums add up, and if your pet turns out to be generally healthy, the cost of the pet insurance policy would be more than you’d likely spend without it. That said, Consumer Reports did provide two cases of rare medical conditions where having pet insurance did pay off.

Here’s some good advice from Consumer Reports if you’re considering a pet insurance policy:

If you’re considering pet insurance, download a sample policy and its terms and conditions from the insurer’s website and read them thoroughly for limitations, exceptions, and co-payments. (If the site doesn’t include a sample contract, call the company to ask for one.) We prefer coverage with simple, percentage-based payouts, and no reliance on judgments of what’s “reasonable.” Avoid riders for wellness care. If you plan to use the insurance for catastrophic coverage—say, $1,000 and up—go for the highest deductible you can comfortably afford.