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MoneyWatch: Managing Your Money
By Matt Richardson
Edited By Kendall Little
/ CBS News
Timing is everything, particularly when it comes to pet ownership and the care your pets need.
While it can be expensive to own and care for a pet, those costs can be dramatically reduced by utilizing the right pet insurance plan. To secure the most comprehensive and cost-effective policy, however, owners should time their application as best as possible.
This is especially true for owners of dogs. Historically, dogs need more care more often than their feline counterparts. And they'll need that care over what tends to be a shorter lifespan (compared to cats). That said, pet insurance can provide valuable help, assuming it's bought at the right age and for the right price. But what is the best age to get pet insurance for dogs? That's what we will explore below.
If you're in the market for pet insurance then start by getting a free price quote here now.
The best age to get pet insurance for dogs
Simply put: The best age to get pet insurance for dogs is when they're young (puppies are best). As they age their health will inevitably decline, and they'll be inherently riskier to insure. That risk will be passed on to you, the owner, in the form of higher monthly and annual insurance premiums.
"The sooner you enroll, the sooner your dog's covered," pet insurance company Fetch by the Dodo notes.
"Fetch covers pets of all ages, but to make sure your pup gets as much dog insurance coverage as possible, it's best to sign up before they need it. Like other pet insurance providers, Fetch is unable to cover pre-existing conditions — which is why we recommend signing up as early as possible. Insuring your dog before health issues develop is recommended, so you and your best friend can live your best lives together."
Spot pet insurance also tells dog owners to act sooner rather than later.
"We advise all paw-rents to insure their pet at a young age," Spot says. "You can enroll your pet in a plan from Spot as soon as they're 8 weeks old. Don't let your pet develop a 'pre-existing condition' before they're insured."
A pre-existing condition could be very limiting to the coverage your dog is ultimately approved for — if they're approved for coverage at all.
Pet insurance companies simply won't cover these conditions until and unless they resolve. This is another reason why it makes sense to apply for pet insurance for your dog when they're still a puppy. At a few weeks or months old, they likely won't have any pre-existing conditions, thus clearing a major roadblock to securing comprehensive coverage. But if you wait until they age - and these conditions appear - your insurance options will be severely limited.
"A pre-existing condition is any injury or illness which occurs or shows symptoms before coverage starts or during a waiting period," Spot explains. "A condition is considered pre-existing whether or not it's been officially diagnosed or treated; all that matters is when it occurred or symptoms first displayed."
But pet owners who fall in this category may still have alternatives.
"However, with plans provided by Spot, this doesn't mean the condition can't be covered in the future if the condition is curable," the insurer explains. "An injury or illness that is curable, cured, and free of treatment and symptoms for 180 days will no longer be regarded as pre-existing, with the exception of knee and ligament conditions. If a knee or ligament condition occurs before the coverage effective date or during a waiting period, any future ones won't be covered."
In general, it's best to insure your dog as soon as you can (or as early as possible). You'll never get a better combination of care and cost as you do when you apply for pet insurance for your dog when they're young. So, if you know you're ready, start by getting a free price quote now so you know exactly what to expect.
The bottom line
Pet insurance is valuable for dogs of all ages. But it's arguably the most beneficial when your dog is young. At this stage in the dog's life, coverage options will be robust and the cost to get that coverage will be significantly lower than it would be if the applicant waited. Not sure if pet insurance is right for you? Learn more about insuring your dog here now.
Matt Richardson
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
