Recs

3

Look Out for Pet Health Insurance

Owning a pet often means having to make painful decisions, such as, "Do I spend another $1,000 to get Fido treated, or will I have to say goodbye to a loyal friend?"

Fortunately, if you snag a job with Home Depot (NYSE: HD  ) or Disney (NYSE: DIS  ) , your employee benefits may include pet health insurance. Those with pets know that pet care has become rather costly these days. Many expensive procedures, such as MRIs, are performed on pets that weren't commonly done in the past.

You'd probably be surprised at how many companies actually offer this insurance to employees. Comcast (Nasdaq: CMCSA  ) , Del Monte Foods (NYSE: DLM  ) , and Sprint Nextel (NYSE: S  ) all have pet insurance offerings.

This kind of insurance won't cover all your expenses, but it can help. (The plan pricing and the ultimate value will depend on the type of pet you have, its age, and its health. Some breeds, older pets, and pets with chronic or terminal illnesses are usually not approved for coverage.) Pet insurance premiums are fairly reasonable, typically costing several hundred dollars per year. They can increase as much as 50% as your pet ages (usually after nine years of age for dogs and 11 years for cats). The coverage isn't always worth it, especially with healthier breeds of animals -- but it can be a significant help for many pet owners.

Here's a bit of bad news, though: When companies offer this benefit, they typically don't actually pay for it -- the employee does. Still, employees will generally get a 5% to 10% discount on the cost, which can add up over the years.

If your employer doesn't offer pet insurance, ask for it. In the meantime, check out insurers such as Veterinary Pet Insurance, PetCare, Pets Best, and PetHealth (NYSE: PTZ  ) .

Keep learning
Learn more about the not always exciting, but still critically important, topic of insurance in our Insurance Center. You may not have thought about some kinds of insurance, such as disability or long-term care insurance, but they're vital for many people. And, of course, properly insuring your property is vital, too. Take time to learn more -- you may be very happy you did.

These articles may also be of interest:


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 576671, ~/Articles/ArticleHandler.aspx, 10/21/2014 4:13:08 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Selena Maranjian
TMFSelena

Selena Maranjian has been writing for the Fool since 1996 and covers basic investing and personal finance topics. She also prepares the Fool's syndicated newspaper column and has written or co-written a number of Fool books. For more financial and non-financial fare (as well as silly things), follow her on Twitter...

Today's Market

updated Moments ago Sponsored by:
DOW 16,601.32 201.65 1.23%
S&P 500 1,941.24 37.23 1.96%
NASD 4,416.00 99.93 2.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2014 3:57 PM
CMCSA $52.18 Up +0.88 +1.72%
Comcast Corp CAPS Rating: ***
DIS $87.48 Up +1.96 +2.29%
Walt Disney CAPS Rating: *****
DLM.DL $0.00 Down +0.00 +0.00%
Del Monte Foods Co… CAPS Rating: ****
HD $94.19 Up +2.34 +2.55%
Home Depot CAPS Rating: ***
S $6.24 Up +0.14 +2.30%
Sprint CAPS Rating: **

Advertisement