Your pet may be the picture of perfect health, but have you considered what you'd do if your dog or cat developed a more serious problem?  Americans spend an estimated $6 billion to $9 billion a year on medical care for their pets. If your pet has a health problem, advanced treatments and tests can put a real dent in your bank account. 

You do have an option: pet insurance. Similar to major medical plans that insured most people before the advent of health maintenance organizations, pet insurance allows you to provide for your dog or cat in the event of a serious health problem. Currently, less than one percent of America's 117 million dogs and cats are covered by insurance, compared with 10 percent in Great Britain and 17 percent in Sweden.  Adapted from Insurance for your pet by Christy Heady.

Pet insurance policies resemble a cross between indemnity products and automobile coverage, with many options to weave through.  Whether insuring a dog or cat, expect to pay a deductible, a co-pay or both. Some companies reimburse on a benefit schedule, others opt for a flat payback that typically hovers at 80 percent.  Adapted from Medical insurance for your pet by Julie Sturgeon.

 Click on Pictures to obtain more information