Peace of Mind: The Benefits of Pet Insurance
We all love our pets and want to do the very best we can to take care of them. Most of us know this means annual veterinary preventive care and feeding them a high-quality diet. But what about unexpected costs?
With the annual cost of veterinary care topping $1,800 annually, it’s no wonder that a pet injury or illness could put a significant financial strain on many families. That’s where pet insurance comes in. Designed to bridge the gap between cost and care, a pet insurance policy means you never have to choose between your pet and your wallet.
Pet Insurance Basics
There’s a lot of discussion online about whether pet insurance is “worth it.” Pet insurance is usually designed to help pet owners offset the financial burden of an unplanned injury or illness. It’s also possible to have your pet’s plan cover wellness care (things like exams, dental cleanings, and vaccinations). However, adding preventive care to a policy will likely mean more expensive monthly premiums.
Unlike human health insurance, pet insurance companies generally expect pet owners to pay for veterinary services up front and submit invoices for reimbursement afterwards.
Pet insurance companies don’t have a network of providers, so you can rest assured that your insurance policy will cover care, even if you need to go to an emergency clinic.
Do Some Legwork
There are many pet insurance companies and plans available, so it’s important to do a little research to find the plan that’s best for you. This may sound time consuming, but with an hour or two and an internet connection, you should easily be able to compare the following:
- Monthly premiums (cost)
- Deductible amounts
- Lifetime maximums
- Pre-existing conditions
- Waiting periods
- Payout maximums per incident
- Age limits
- Add-on costs
Additionally, check online reviews for any company you’re considering, and call them to determine whether their customer service meets your expectations. If the company can’t answer your questions, keep looking. There’s even a little tool that can help you compare the pet insurance companies called Pet Insurance Review.
Peace of Mind
Perhaps the biggest benefit of pet insurance is the peace of mind it offers. If your pet is critically injured or is diagnosed with cancer or another major disease, it can literally save your pet’s life. Having a pet insurance policy will allow you to focus on what’s most important – your pet’s care – rather than how you’ll pay for treatment.