Pet insurance - is it worth the money? The idea of health insurance for you pet is the same as your insurance - pay a monthly premium so that if your pet gets sick, your pet insurance can kick in and help you pay the bills.
Pet Insurance - Is It Worth the Money?
Everyone loves their furry little family members, but veterinary care for pets can get expensive quickly. If you have a pet with recurring health issues, repeated visits to the vet can cost a lot of money, eventually putting pet owners in a difficult situation - how can you afford the exorbitant cost of health care for your cats, dogs or other pets in the long run?
Thankfully, there are several companies providing health insurance for pets. So pet insurance - is it worth the money? Though a health insurance policy for your cat or dog might sound silly, for pets that require a lot of veterinary care it can be a literal lifesaver. Just like health insurance for humans, pet insurance requires a monthly payment, but, unlike traditional health insurance, it usually reimburses pet owners for medical costs rather than paying them outright.
Unfortunately, also like health insurance for humans, pet health insurance rarely covers pre-existing conditions so it's best to think about insuring your pet when they're young.
While humans should have health insurance for a variety of reasons, it's not necessarily cost-effective for all pets to have it. If you have a dog or cat that rarely goes to the vet and you can afford to pay for treatment in case of an emergency like an injury or poisoning, you probably don't need to get health insurance for your pet. Most of the ailments that afflict pets, such as fleas, mites, or worms, can be treated at home with over-the-counter medication, though it's always a good idea to get your pet checked by a vet before treating at home.
If your pet suffers from recurring health issues or you're concerned that they may develop a lasting health condition later in life, pet insurance may be a good idea. Making small monthly payments is a lot simpler than being saddled with a hefty veterinary bill in case of an emergency - it's not uncommon for veterinary care to cost in the thousands of dollars, especially for emergency treatment. For peace of mind, it may be worth it.
When buying health insurance for pets, it's important to do some research. So is pet insurance - is it worth the money? Costs vary from plan to plan and usually include your pet's age as a factor. Deductibles, coverage percentages, and co-pays also vary widely from plan to plan, so be sure that you find one that fits the amount you're able to spend per month, the amount you'd be able to spend at the vet, and will reimburse the amount you want afterwards. It's always best to be informed, so explore several options before coming to a decision.
There are lots of pet insurance companies out there, so finding one tends to boil down to a comparison of your needs and what is offered. Healthy Paws, Pet Plan, and Trupanion are among the highest rated, but weighing the coverage versus monthly cost is an individual decision. Read reviews and policies and consider what will work best for your wallet and the health of your pet.
Pet Insurance - Is It Worth the Money? - The Bottom Line
We hope this article on pet insurance - is it worth the money? has been informative. Shopping for insurance is no picnic, even when it's for your pet, but if you're concerned about health problems and you don't have the money to handle out-of-pocket expenses in case of a medical problem, pet insurance may be the right choice for you and your animal companion.