With toys, beds, training supplies, licenses, and food, owning pets can be expensive in the best of times. But when accidents or illnesses happen, necessary medical procedures can be unaffordable for many. Pet insurance can protect you against large unexpected veterinarian bills. But is pet insurance really a solution?
What is Pet Insurance?
Most people are somewhat familiar with pet insurance. It works much like our own medical insurance does. Pet insurance is paid for on a monthly or yearly basis. In the case of expensive medical procedures or treatments resulting from illness or accidents, the insurance company would reimburse you for medical procedures, after subtracting any unpaid deductible. This provides you with protection in the case of treatment that would otherwise be unaffordable, giving you peace of mind that you can take care of your pet no matter what.
Pet insurance excels at taking care of unexpected catastrophic injury or serious health problems. However the insurance plans generally won’t help much with routine care such as checkups, vaccines, or dental cleanings. And in the case of any claim, the deductible must be paid out of pocket.
Pet insurance plans are often affordable, generally costing between several hundred and a thousand dollars each year depending on things like deductible size, coverage, and the species/breed of your pet. The premiums are divided into monthly payments to make it more affordable.
Why is Pet Insurance Important?
A survey by the associated press found that 41% of pet owners are worried that they can’t afford medical bills for their pet. Pet insurance protects you from unexpected veterinary bills that could add up into the thousands in the case of a severe illness or accident.
In some cases where pet owners are unable to afford a necessary medical treatment for their pet, the only option is to euthanize the animal. These unfortunate situations can be avoided by having pet insurance.
If you decide to not purchase pet insurance, you can begin to prepare for the possibility of expensive medical emergencies. By setting aside some money each month, you can save a significant amount relatively quickly, giving you some peace of mind in case of an accident or illness.
When Should I get Pet Insurance?
Many people think that they don’t need pet insurance when their pets are young. However, even young animals can have unexpected expensive health problems as well as accidents, so you are just as likely to need insurance when your new pet is young as when they are older.
What are the Options?
There are many insurance companies offering pet coverage, and many of them offer great value. We recommend shopping around and getting several quotes to find the best coverage at the best price. Companies like Healthy Paws, Trupanion, and Pets Best exclusively offer pet insurance, while many larger insurance companies also offer pet coverage. Check with your insurance provider to see if they offer pet insurance and can bundle it with your others plans to get a better price.
To find out more about how to keep your pet happy and healthy.