When To Purchase Pet Insurance

By Amy E. Feldman

PHILADELPHIA (CBS) - A family in Portland, Oregon finally solved the "what happened to the other sock" mystery when, after rushing their Great Dane to the hospital, they discovered that he'd eaten 43½ socks. Still a mystery: it's one thing when socks disappear from the dryer, but didn't it seem odd that socks were disappearing from the sock drawer? And shouldn't the ½ sock left behind have provided a clue?

And also, should they get pet insurance for the next gluttony-related doggie health crisis? Should you?

The answers in order: yeah, what about that? And duh! And maybe. And maybe.

Most pet insurance doesn't cover routine pet health care like vet visits unless you pay an extra premium.

Additionally, it generally doesn't cover elective procedures like neutering, nor does it cover pre-existing conditions or genetic conditions to which certain breeds are prone.

It generally will cover unforeseen illnesses or injuries but often limits coverage to a certain dollar amount per condition or sets a ceiling for annual or lifetime payouts.

Before buying, ask: Are claims subject to an annual limit or based on the condition? Is the pet covered for hereditary conditions? And will it cover the replacement cost (not of the pet, of the socks).