For example, policies vary widely.  the nonprofit American Society for Prevention of Cruelty to Animals, partnering with Hartville Group, offers four levels of coverage--from accidents only ($9.50 a month for dogs;  $7.50 for cats) to comprehensive protection ($59.00 a month for dogs;  $51.00 for cats).  Some insurers' plans hit $75.00 or more a month.

Do such fees make sense for you?  With $4000.00 hip replacements or $10,000 cancer treatments commonplace, "insurance is for those who would do anything to save their pet," says petinsurancereview.com's Mike Hemstreet.

But many policies won't pay for hereditary conditions, and none grant coverage of preexisting conditions.  Worse, first that cover an illness one year may demand another $5 to $10 a month to continue coverage the next.

Maximum payouts are another factor to weigh.  "Pet owners are most concerned about Premiums," says Memphis vet Doug Kenney, author of Your Guide to Understanding Pet Health Insurance, " but they should be asking, 'If I have to file a $10,000 claim, what is my total expenses?'  With a $3,500 per-incident maximum, you'll pay $6,500 out of pocket--plus the premium."

To compare policies, go to petinsurancereview.com or dogtime.com; both are independent sites.

Financing your vet bills

Health care credit cards, include CareCredit (from GE Money) and ChaseHealthAdvance, can be used to pay unexpected vet bills and defer interest for 3 to 24 months.  But the penalty for not paying off the loan on time is steep:  Interest rates are as high as 27.99 percent, dating from when the charge was incurred.  Both cards also have fixed-payment plans that charge interest from the get-go.  Rates vary widely, depending on your credit history.