Finding the correct pet insurance can appear to be a difficult subject. When you hear the word “insurance,” you’re likely to recall a slew of recollections with traditional health insurance. The paperwork, phone calls, and premiums can cause anyone to become overwhelmed. Pet insurance, on the other hand, is nothing like that.
Obtaining cheap peace of mind for your pet does not have to be a burden, and it does not have to be difficult. Finding the correct pet insurance is, in fact, something you can do and feel good about. Here’s some basic 101 information to help you figure out what kind of pet insurance is best for you.
What Exactly Is Pet Insurance and Is It Worth It?
They begin to take up residence in your heart and become a member of the family the moment you bring your new furry friend member home. They are unique, whether you got the breed you’ve always wanted and are bringing home your eight-week-old baby or you recently adopted and saved an older dog.
Having a pet is one of life’s simple pleasures, and it is something that millions of people in the United States enjoy. It’s difficult to imagine another type of investment that delivers as much delight to a person’s life. Whether you’re single or have a family, having a pet adds a degree of life and colour to your life that it’s difficult to fathom not having.
If you’re a first-time pet owner or have never heard of pet insurance, you might be wondering what precisely a pet is and why it matters to you. Let’s start with the first question.
What is Pet Insurance, and how does it work?
Pet insurance operates in the same way as most health insurance plans that you are already aware with. You pay an annual deductible, and the coverage options cover a variety of health, disease, and injury-related eventualities that you’re pet could face.
But here’s the good news: it’s incredibly simple! There are no problems or restrictions from network providers as to where you may and cannot take your pet. Let’s take a look at the benefits of pet insurance and why it’s worth your time and money.
Is Pet Insurance a Good Investment?
In a nutshell, the answer is yes, and here are some of the most compelling arguments. First and foremost, your pet is extremely important to you. These amazing animal friends not only become a part of your family and steal your heart, but they are also a significant financial investment. Over the course of a dog’s life, the average pet owner is estimated to spend roughly $16,000 or more, and upwards of $13,500 for a cat.
The basic reality is that vets’ bills aren’t cheap. Everything from annual checkups to illness to catastrophic injuries can suddenly add up. This is a significant financial expenditure, on top of the emotional investment you have in your cat. Pet insurance aims to make owning a happy, healthy pet who can live a long and happy life full of love more cheap and feasible.
Costly services for pets are a real possibility, and pet insurance can help keep your pet safe from such dangers.
What Can You Expect to Be Covered?
To properly see why insuring a pet is worthwhile, you must first grasp what your pet can be insured for. The good news is that this is quite extensive. Pre-existing conditions are not covered by most pet insurance policies, but this only applies to conditions that cannot be cured or healed within 180 days.
UTIs and bone fractures are examples of these types of illnesses. You don’t have to worry about any of that if your pet is currently healthy. Pet insurance offers a wide range of services that aid in your pet’s overall well-being. One of the most financially significant areas to seek coverage for is illness and accident, as these might have the highest price tags.
For example, a clogged gut from a puppy who chewed excessively, or a parasite-infested kitten. These are just a few examples of ailments that can come with hefty price tags when treated at a veterinarian’s office; however, pet insurance strives to make them affordable for you and your family.
Pet insurance also includes preventative treatment, which covers the costs of ensuring your pet has the best chance of avoiding sickness.
The Price of a Pet Insurance
It’s critical to understand your costs before deciding whether or not pet insurance is worthwhile. For starters, the ASPCA estimates that food, toys, treats, licensing, and grooming supplies cost $465 on average for dogs and $501 on average for cats per year.
That doesn’t even take into account the cost of normal and preventative pet care, such as vaccinations, flea and tick treatments, and regular exams. For dogs, that’s an extra $410 each year, and for cats, it’s an extra $300 per year.
These expenses pile up, but they aren’t as high as the costs of unforeseen medical emergencies. If your dog tears his ACL while chasing a ball, surgery might set you back thousands of dollars.
Many pet owners may be unable to cover these medical expenses on their own. According to a Federal Reserve estimate of household well-being from 2021, more than a third of Americans (36%) are unable to fund a $400 household emergency in cash.
And if you can’t afford to care for your pet properly, your long-term costs could skyrocket. Let’s say your pug has chronic subluxation (which means his hip won’t remain in place). If you don’t have the financial means to tackle this medical problem, you might opt for a “wait and see” approach, which could lead to chronic discomfort and recurring prescription costs.
It’s also worth noting that some pets are predisposed to inherited diseases, which could raise their care costs. Large dogs, such as border collies, Labrador retrievers, Great Danes, and German shepherds, are more likely to develop hip dysplasia, which can cost anywhere from $3,500 to 7,000 dollars to correct, depending on the circumstances.
What Is Pet Insurance and What Does It Cover?
You’ll want to figure out what pet insurance covers now that you’ve had a crash course on the cost of caring for a pet. The amount that the insurance company will pay for medical bills is specified in a single insurance policy.
- Broken bones
- Toxic ingestion
- Dental disorders such as gingivitis
- Chronic conditions such as diabetes
- Breed-specific conditions such as hip dysplasia
- Emergency care
- Surgery
- Diagnostic tests
- Hospitalization and surgery
- Prescription drugs
An accident-only pet insurance plan will cover veterinarian costs incurred as a result of an accident, such as a torn ligament or a pet ingesting poison. An accident-only plan, on the other hand, will not cover veterinarian costs associated with diseases, such as ear infections or cancer.
Some pet insurance policies allow you to add wellness or routine care coverage to your policy. Routine check-ups, microchipping, vaccines, and flea/tick prevention are all covered under this add-on.
Conclusion
When shopping for pet insurance, be sure you have the coverage you require. Covering illness, accidents, and preventative treatment are all methods to guarantee that your pet stays healthy while staying within your budget. Your peace of mind is one of the most important factors to consider while making a decision. Speak with knowledgeable professionals who can help you obtain the coverage that will keep your pet healthy and provide you with the peace of mind you desire.