“Why and How to Insure Your Service Dog”

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Should You Insure Your Service Dog?

Service dogs are not only loyal companions but also provide essential assistance to individuals with disabilities. These dogs undergo rigorous training and meet strict breeding standards to perform their duties effectively. For instance, guide dogs help the visually impaired navigate, while hearing dogs alert those with hearing impairments to important sounds.

Given the high costs associated with purchasing and maintaining a service dog, insuring your service dog can be a wise financial decision. According to the National Service Animal Registry, the cost of a trained service dog can reach up to $30,000. Additionally, ongoing veterinary care, including routine shots, examinations, and preventive medicines, can add up to around $500 annually, as estimated by U.S. Service Animals.

Veterinary costs can escalate significantly if your service dog suffers an injury or illness. For example, cranial cruciate ligament surgery for a knee injury can cost up to $8,000, while emergency surgeries can range from $1,500 to $5,000. Insuring your service dog can help protect your finances from these unexpected expenses.

How to Insure Your Service Dog

If you have health insurance, check with your provider to see if they cover any veterinary costs for service dogs. Otherwise, consider pet insurance, which is similar to human health insurance but primarily for dogs, cats, and other eligible animals. You pay a monthly premium, and your service dog can receive coverage for eligible medical care.

Generally, you must pay for veterinary services out of pocket, and your pet insurance provider reimburses you a specific amount, usually between 70% and 90% of the bill. Pet insurers typically offer three types of coverage:

• Accident-only: Covers treatments for injuries such as broken bones and snake bites.
• Accident and illness: Covers injury-related costs and illnesses, such as ear infections and diseases including cancer.
• Wellness and preventative care: Usually offered as an optional add-on, this plan helps pay for routine checkups, vaccinations, dental cleanings, and other services that maintain your pet’s health.

To insure your service dog, follow these steps:

1. Evaluate your dog’s specific needs, including age, breed, hereditary issues, and potential annual veterinary costs.
2. Decide on the type of policy you need, whether it’s a basic accident-only plan or a more comprehensive accident and illness policy, and if you want the perks of a preventative care plan.
3. Compare multiple pet insurers to find the best balance of price and coverage. Most insurers allow you to get quotes on their websites or via their apps.
4. Review the deductibles, maximum reimbursement amounts, and coverage limits for each policy. Adjust these amounts to customize your policy and reduce your monthly premiums.
5. Check for available discounts, such as military or bundling discounts, and discounts for insuring more than one pet.
6. Be aware of exclusions, such as pre-existing conditions, alternative medicines, breeding, and cosmetic procedures.
7. Choose your provider and policy based on the benefits and price that best meet your needs.

How Much Does It Cost to Insure a Service Dog?

The cost to insure a service dog is generally the same as insuring other dogs. According to a MarketWatch analysis, annual pet insurance costs for dogs average $768. However, premiums can vary depending on your dog’s breed, age, location, and policy terms. For example, larger dogs are more susceptible to certain hereditary conditions, which can increase premiums.

Standard service dog breeds such as Labradors, golden retrievers, and German shepherds cost around $60 monthly to insure, according to a LendEdu analysis of Spot Pet Insurance data for different breeds.

While pet insurance generally doesn’t cover the costs of buying or maintaining a service dog, you may be able to take advantage of other options, such as:

• Benefits through the Department of Veterans Affairs (VA): The VA offers veterinary health benefits for eligible veterans with dogs who’ve received certified training from Assistance Dogs International or the International Guide Dog Federation.
• Employer-offered flexible spending accounts (FSAs): FSAs can help lower health care costs for you and your dependents. If your employer offers these accounts and your disability is documented, you may be able to pay for medical costs, like service dog expenses, with pretax money.
• Payment plans: Some veterinary clinics allow you to submit a down payment and make monthly payments to pay your vet bill over time. Ask your vet if they provide this option.

The Bottom Line

Pet insurance can help you avoid using a personal loan or credit card with potentially high interest charges to cover a substantial vet bill. If you plan on using credit to pay for your service dog’s health care, maintaining a good credit score can help you receive favorable terms. Consider Experian’s free credit monitoring to help you get access to your credit report, keep track of your credit score, and receive alerts about new inquiries and accounts.

For any mortgage service needs, call O1ne Mortgage at 213-732-3074. We are here to assist you with the best mortgage solutions tailored to your needs.

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