Pet Insurance: Do You Need It?
Just like humans, dogs and cats can get sick and need regular health checkups. Sometimes these visits can be very expensive. Some pet parents have turned to pet insurance to help with the medical costs of owning a pet.
Here’s the lowdown on pet insurance to help you decide whether or not you want to invest in it!
What is pet insurance?
Pet insurance is similar to other insurance. It helps to cover the cost of medical expenses or emergencies for your pets. Typically with pet insurance this is done by way of reimbursement. How much you save will depend on what type of policy and coverage you use and how often you need it.
Pet insurance, like regular insurance, can vary in cost depending on coverage. The pet’s age, breed, and even the area you live can affect the cost of your pet’s insurance. Most pet owners who choose to get an insurance plan for their pet will pay between thirty and fifty dollars a month, with dogs being on the higher end. The yearly average for pet insurance is three hundred dollars with the lifetime average cost of five thousand. If your pet needs emergency surgery costing thousands of dollars, having insurance can be very helpful.
How do you get pet insurance?
Many companies offer pet insurance with competitive costs. A quick internet search can give you access to them and within minutes you can be on your way to receiving a quote from the company. Many of the companies have a thirty-day period before the insurance is active, but once the time passes you can start using the benefits your policy provides.
NBCNews.com wrote that pet insurance is more beneficial in an emergency situation, when the costs are high and immediate, and the owner may not have the savings or financial ability to cover the cost.
Other investigations also agree that emergency situations seem to benefit most from pet insurance, allowing the pet owner more financial choice and freedom when it comes to treatment.
How do you determine if having pet insurance is right for you?
Having pet insurance is a personal choice. What’s right for one family may not be right for another. Some people will choose instead to put the monthly insurance cost into a savings account so that they will have funds for vet visits or emergency pet care.
That being said, if you have a pet that seems to be accident prone or likes to ingest things he or she probably shouldn’t, insurance could be a money saving option for you!
What alternatives are there to keep veterinary costs low for your pets?
Many people choose to use mobile pet clinics for annual vaccinations and low cost clinics for spay and neutering. Many animal shelters offer low cost vaccination or spay/neuter clinics. These can be money saving options if you have a young or healthy pet, but do not help in an emergency situation.
Do you have pet insurance? Why or why not? Leave a comment and let us know!