Author: Isa Summers
If you’re like most pet owners, you invest a lot of time and energy into your lovable friend. Whether you have a dog, cat, bird, reptile, or any other pet, you enjoy the companionship this animal provides. For a lot of people, pets become part of the family. You want your pet to be healthy and happy, which is why providing good care is essential.
Regular veterinary checkups are critical for pets, just like routine doctor’s appointments are important for you and your loved ones. The cost of veterinary care can be high, but you should still not neglect to get vaccinations and treatments for your animal. If you are worried about the financial commitment of medical issues for your pet, help is available.
To offset many of the financial burdens associated with your own health care, you purchase insurance. You can do the same for your four-legged, furry, or feathery friend. Pet insurance can save you hundreds or even thousands of dollars at the vet’s office. Finding the best pet insurance can give you peace of mind and keep your budget intact.
What Is Pet Insurance?
There are similarities and differences between human health insurance and pet insurance plans. In both cases, the plan will pay for certain health care costs, protecting you from having to spend your own money on office visits, medications, blood work, surgeries, preventive treatments, and so on.
Like the insurance you have for yourself and family members, pet insurance has a monthly premium that you must pay. There is also a deductible for a pet insurance plan that you must meet before the insurance company starts to pay. One of the biggest differences with pet insurance is that you will pay for the services upfront. You then submit a claim to the insurance company, which will then reimburse you for the cost.
The Costs
Monthly premiums will vary from plan to plan, so it’s important to shop around for the policy that makes the most sense for you. Most pet insurance plans cost between $25 to $50 a month, adding up to between $300 and $600 a year. Keep the deductibles in mind, too. These can have a wide range depending on the plan you choose. Some pet insurance policies, like your own health insurance, have high deductibles of up to $1,000. Others may have no deductible. High-deductible plans will have smaller premiums, while low or no deductible plans will have higher monthly premiums.
You will be responsible for copays at the office as well. Typically, these are usually between 10% and 30% of the total cost of the service. Be aware that certain factors will play a role in determining your premiums. These include the age and health of your pet, the type of animal you have, and the breed of animal you have.
How Much Does Health Care Cost for Animals?
It can be difficult to decide whether to invest in pet insurance. Some people prefer to set aside a certain amount of money each month for a pet fund. For example, you could save $25 a month for these costs. This strategy could work well for things like annual checkups but may not be effective for higher-cost situations.
If your pet gets sick, develops a serious health condition or disease, or suffers an injury, your financial obligations could be significant. While office visits and vaccinations can be affordable — in the $100 to $300 range, pet health care emergencies can rise much, much higher. You could find yourself paying thousands for an accident such as a bite or fracture. Then, you have to consider follow-up visits, medications, and even physical therapy to ensure that your pet heals.
It’s easy to see how the costs can escalate quickly. For these types of situations, paying $25 or so a month for pet insurance, plus a relatively small copay is worth your expenses. Buying pet insurance is especially worth it if the animal is getting older.
Exclusions
Before you purchase a pet insurance plan, understand that there are some items that the policy will not cover. Insurance will not apply to preexisting conditions. If your pet has a disease and then you buy a plan, the insurance will not cover that issue. Also, the plan will not cover behavioral problems, dental care, or grooming. If you are unsure of what your policy will or will not cover, make sure you find out before you purchase a plan.
You love your pet and want what’s best for your companion. Your pet is bound to fall ill at some point and will need attention for any number of health concerns. Don’t ignore these vital needs because of financial concerns. Thanks to pet insurance, you can get the help you need and stay within your budget, all while ensuring that your pet has the proper treatment.
