It was not that long ago when people were actually given the option as to whether or not they wanted to buy car insurance. Many people believed that the chances of ever using car insurance were very small and that the price of the policy would rarely pay off. Of course, in order to drive a car legally these days, having sufficient car insurance is essential.
Many people still feel the same way about pet insurance. Their belief is that it is unlikely that a pet will get hurt or injured and that a pet insurance policy would be a waste of money. Is pet insurance worth it?
What Is Pet Insurance?
Pet insurance is very similar to the kind of medical or dental insurance that you already have. Many of the features are the same, including a set deductible per visit, and annual maximum coverage, a lifetime maximum coverage, and a waiting period for certain conditions. There are also pet insurance policies that resemble the kind of dental coverage that you may have, encouraging regular preventative visits in order to catch any health conditions before they become serious.
How Much Does Pet Insurance Cost?
The biggest problem that many people have with pet insurance is that they believe the expense will never pay off. It can be difficult to pay a monthly or annual insurance policy when you do not know if you are ever going to use it. However, if you take proper care of your cat or dog, then pet insurance is worth it many times over, and the cost of this type of insurance is remarkably low.
There are many different options when it comes to buying pet insurance for a cat or dog, and the policy that is right for you will depend on many different factors. For instance, you can choose pet insurance policy that offered different reimbursement levels, all the way up to 100% reimbursement for many visits. Also, you can choose an annual deductible that will also increase or decrease the price of your policy.
Will Your Pet Insurance Pay Off?
Determining whether or not you will ever be able to recoup the money that you pay for pet insurance will depend on many different factors. These include the health of your animal, how long they live, and any how often you take them to the vet. In a perfect world, your pets would remain healthy throughout their entire life, but it is very likely that you will use your pet insurance numerous times, if only for minor accidents and illnesses.
What Does Pet Insurance Cover?
Most pet insurance policies provide comprehensive coverage for illnesses and accidents, including many congenital and hereditary conditions that cats and dogs suffer from. Examples of these conditions would be broken bones, poisoning, the ingestion of foreign objects, or car accidents.
Common illnesses that are covered by pet insurance include cancer, arthritis, diabetes, skin and ear infections, and a variety of hereditary and congenital conditions such as hip dysplasia, glaucoma, and epilepsy. In some cases, your pet insurance will also cover prescription medications, otherwise expensive diagnostic tests, cancer treatments, and even holistic treatments such as acupuncture and chiropractic.
What Should You Look For In A Pet Insurance Plan?
One of the most important things to look for when you are buying pet insurance is how you will be reimbursed for your vet visits. When you take your dog or cat to the vet and you are presented with a fairly large bill, it is important that the pet insurance company you are working with is willing to reimburse you as quickly as possible.
Some insurance policies have a list of preferred providers, much like your health insurance policy. This kind of policy can make it much easier to obtain reimbursement and you may actually get a discount on vet bills when you work with veterinarians who are within the insurance company’s group of providers.
Is Pet Insurance Worth It?
There are certainly some breeds of cats and dogs for whom pet insurance is almost essential. Some of these animals are particularly prone to certain diseases and illnesses that can be extremely expensive to treat. What most pet owners would agree with is the fact that no one wants to deny their beloved pet the ability to get treatment and live a long and healthy life simply because they cannot afford to pay for treatment.
Much like having any other kind of insurance, pet insurance is worth it for any pet owner who wants to feel secure in knowing that they can always get affordable treatment for their pets at any time. Even if you never recoup the full cost of pet insurance, it is still a healthy investment in the life of your family’s pet.