What Veterinarians and Clients Say About Pet Insurance

Posted on January 1, 2010

It is anticipated that in the next 5-10 years, insurance will alter the way many of us practice veterinary medicine. Most veterinarians hope that the main change will be that more people will be able to pursue the diagnostics and therapies that their pets need and that fewer animals will need to be euthanized because owners cannot afford their medical needs. Some veterinarians are concerned that eventually insurance companies will try to dictate the type of medical care that can be provided instead of leaving those decisions strictly to the veterinarian and client based on what is felt to be in the best interest of the pet.

A study recently reported in Veterinary Practice News described the findings of a survey of over 800 veterinarians and 4,000 pet owners about awareness and opinions about pet insurance plans. In general, most people were aware of insurance but 78% of pet owners could not recall a specific provider of pet insurance.

Interestingly, about 60% of veterinary professionals recommend pet insurance to the clients. However, two-thirds of the practices that recommended insurance reported that less than 10% of the clients at the practice bought a policy. The most common reasons found for veterinarians not recommending insurance were that they felt it was inappropriate/unproductive, were fearful of insurance companies dictating practice in the future, were concerned about increased paperwork, or felt they needed better understanding of the insurance plans.

The pet owners in this survey were recruited from Dog Fancy and Cat Fancy magazine and may represent a more attentive pet owner population than average but nearly 10% reported having pet insurance. As the pet insurance industry continues to grow, veterinarians will undoubtedly be asked to provide recommendations to pet owners about whether they should purchase pet insurance and what providers and plans are best. To read the full article about this survey, go to http://www.veterinarypracticenews.com/vet-cover-stories/pet-owners-aware-of-insurance-balk-at-cost.aspx.