BUFFALO, N.Y. — Emergencies involving pets are scenarios few owners want to imagine but are, unfortunately, quite common. Like people, pets experience health emergencies that require sophisticated and often costly medical care. According to Tim Atkinson, Executive Director of the New York State Veterinary Medical Society, advances in veterinary medicine and technology, while beneficial, come with significant costs.
“Certainly enough to be quite a bit of a shock, so having insurance ready if an accident happens to your pet or it develops a serious disease is great because it saves so much heartache in that time,” Atkinson said.
Pet insurance has been available in New York for years, yet there is currently no legal framework to regulate it. State Assemblywoman Pamela Hunter, D-Syracuse, has sponsored a bill this session to change that.
“We wanted to ensure that there are consumer protections for this insurance, similar to what you would expect for car or homeowners insurance, to establish some consistency across the board relative to pet insurance,” Hunter stated.
The proposed legislation, which has passed both houses and now awaits the governor’s signature, sets forth specific rules regarding carrier disclosures, defines preexisting conditions, and creates uniform training requirements for insurance company employees. New York follows several other states that have enacted similar laws based on a model designed by the National Council of Insurance Legislators and the Association of Insurance Commissioners.
“Some people just get accident insurance, others get accident and illness insurance, and some opt for wellness programs as well. We wanted to ensure that if you’re interested in a pet insurance policy, you fully understand all the disclosures,” Hunter explained.
Currently, only 7% of pets in New York are covered by insurance, a figure that lags behind other states and countries.
“I think this elevates the conversation for New Yorkers,” Hunter remarked.
Atkinson, while an expert in veterinary medicine rather than insurance, agrees that the conversation could encourage more people to utilize pet insurance.
“Anything that can increase consumer trust in insurance and ensure they clearly see what they’re getting and then receive it is always a good thing,” he noted.
Some veterinary offices offer their own pet insurance options or can recommend policies to consumers. However, Hunter emphasized that if a person is already at the veterinary office, it is often too late. She believes many people are unaware that policies are available through national auto and homeowner insurers as well.
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