If you’re like most pet owners, you want to do whatever you can to make sure your pet stays healthy and is cared for well. In this day and age, pet owners have access to advanced medical care for our pets that rivals human healthcare. Although this makes it even easier to provide exceptional care to our pets, this level of medical care does come with a cost. And this cost can put a significant financial strain on families, even with the best planning.
Just as human health insurance is designed to offset our own health care costs, pet insurance can ease the financial burden of unexpected injury or illness to our beloved pets. It may not be right for everyone, but pet insurance is certainly worth looking into. We’ll give you the basics so that you can start to weigh the benefits and costs for yourself.
Pet Insurance Basics
Most pet insurance is designed to help pet owners cover costs for unplanned events, such as a major illness or injury. Some plans also cover basic wellness care such as exams, dental cleaning, and vaccinations. Be aware that injury and illness plans can have lower premiums, and those plans that cover wellness are likely to have higher monthly costs. It’s all about what fits your individual needs.
Unlike most human health insurance companies, pet insurance companies usually expect pet owners to pay for veterinary services up front, and then submit the invoices to them for reimbursement.
Do Your Homework
Each pet insurance company is different, and so it is well worth doing your research to determine which company might be best for your needs. A quick internet search will bring up many pet insurance companies. When comparing them, make sure you take into account the following:
- Monthly premiums/ cost
- Waiting periods
- Exclusions (most do not cover pre-existing conditions or breed specific diseases
- Annual limits
- Lifetime limits
- Limits per condition
Additionally, it’s worth checking reviews online, to see what other pet owners have to say about pet insurance companies and their policies. Once you have narrowed your search to 3 companies, give them each a call and see what you like (or don’t!) about their customer service.
It may take a bit of your time, but looking into these questions will help you make the best decision for your pet and your financial situation. We welcome your questions, as well.
Peace of Mind
Perhaps the biggest benefit to pet insurance is the peace of mind that it can afford. If your pet is critically injured or if they are diagnosed with a major illness, having a pet insurance policy can allow you to focus on what’s most important – their medical care – rather than on how you will pay for it. In these stressful situations, having the peace of mind that your pet and your wallet are protected can be priceless.