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Is pet insurance worth it? Just like any insurance, there’s a cost versus a return. Is that return worth it? Let’s talk about some of the more important things to know before buying pet insurance. There’s a lot you need to consider before purchasing pet insurance. This article will answer all of that and more.
You cost of pet insurance may surprise you
It depends on the policy you choose, but in general, it’s not cheap. You need to do your research and find the best value for money. In some cases, you can get cheaper pet insurance if you’re willing to pay a higher deductible (the amount of money that needs to be paid out-of-pocket before coverage begins). This means that if something happens during one year with your pet and its treatment costs $1,000–and then again next year when another injury occurs–that’s two claims against this particular policy in one year’s time period rather than just one claim over two years’ worth of coverage as would be typical with lower deductibles.
Pet insurance can cover some unexpected treatments, but not all of them
It’s increasingly common for families to include cats and dogs in their households. And as the number of pets rises, so does the cost of insurance for these beloved animals. Pet insurance is meant to covers trips to the vet, routine vaccinations, flea/tick treatment, and other health needs of your furry companion. But it’s not all-encompassing — some things won’t be covered by pet insurance at all, in cluding emergency surgery, cancer treatment, and laser surgery (to correct vision problems).
Pet insurance won’t cover preexisting conditions or chronic illnesses
Preexisting conditions are medical conditions that are present before the policy is purchased. Your pet’s health history could affect how much coverage you receive and which conditions are covered.
Chronic illnesses are long-term medical conditions that require ongoing treatment, such as diabetes or heart disease. These may be excluded from most plans if they were diagnosed within 30 days of purchasing your policy or within 30 days of an increase in premium due to one of these chronic conditions being diagnosed after enrollment in a new plan (or at renewal).
Not paying for pet insurance can end up costing you a lot more in the long run
If you don’t buy pet health insurance, you might end up not being able to afford your pet’s medical bills if they get sick or injured. If your pet gets sick or injured and needs treatment, it’s likely that the costs will be high. You could end up paying hundreds of dollars each month for treatments like chemotherapy and surgery, which is why it’s important to consider getting insurance in case anything happens to one of your beloved pets.
Pet insurance won’t completely replace the money you’ve spent on veterinary care, but it will help mitigate the financial impact of illness or injury
If you have a pet that needs to see the vet often–whether because it’s old or has chronic conditions like diabetes–pet health insurance is a good idea. Pet premiums can be expensive, but they’re usually less than what you would pay out-of-pocket for routine visits and procedures. Some plans even cover unexpected costs like emergency visits and surgeries (though these extras are often excluded). Pet owners should also look into purchasing an umbrella policy that provides further protection against large medical bills in case something catastrophic happens to their animal friend.
Buying pet health insurance doesn’t mean you have to be rich, just responsible
You can’t predict the future, and you can’t predict how much your pet will cost to care for. You also can’t predict how much pet health insurance will cost, or what medical bills your dog or cat might rack up in their lifetime. If you’re like most people, those are all good reasons not to buy pet health insurance–but they’re not insurmountable ones! If your goal is simply to reduce your financial risk while still providing quality care for your animal companion(s), then this guide is going to be very helpful indeed.
If you’re looking for a way to protect your pet’s health, pet health insurance is a great option. It can help cover some of the costs associated with expensive treatments and ensure that you don’t end up paying thousands of dollars out of pocket for an illness or injury. If you’re not sure how much coverage is right for your family or if it would be worth the price tag, consider contacting an agent who can help walk through the process together!