Do You Need Pet Insurance?
According to the North American Pet Health Insurance Association, 1.4 million pets are insured in this country and the number is growing. Why? Because the rates charged for pet wellness visits, veterinary emergency visits, and surgery/treatments are also on the rise.
Currently, two types of insurance plans are available: accident and comprehensive. Accidental insurance covers events like having your pet accidentally swallow a child’s toy or ingesting a poisonous substance, or getting hit by a car. Comprehensive insurance covers illnesses like cancer, seizures and/or diabetes. Currently, over 95 percent of all pet owners have comprehensive pet insurance.
Other reasons why pet owners purchase pet insurance are:
- Avoiding having to dip into their own savings or going into debt as a result of a pet’s veterinary emergency.
- Peace of mind, knowing whatever treatments might be needed as a result of a medical situation and knowing you might be able to avoid having to prematurely face the thought of “putting your pet down” as a result of not having the funds available to pay for a life-saving medical treatment.
- More and more companies are offering pet insurance as an overall part of their company insurance benefits.
- You can go to the veterinarian of your choice.
Some of the reasons why pet owners decide not to purchase health insurance are:
- The bill has to be paid first, and then the pet owner is reimbursed.
- All things considered, pet insurance can be pricey.
- Some policies have an age limit.
According to costhelper.com, most cat policies cost around $15 to $18 per month while dog insurance policies run about $22 to $28 per month, with some policy rates being even higher. Keep in mind that most pet insurances require a deductible and do not cover pre-existing conditions. Also know that most policies cover between 70 to 90 percent of the total cost of the visit.
Should you decide to purchase a pet insurance policy, make sure to read every detail of the policy. Make sure to also research the dependability and reliability of the pet insurance company you might be considering because many of these companies come and go.
According to The American Pet Products Association, 27% of the cost of owning a pet goes to veterinary care. Again, more and more pet owners are going to this form of supportive care to insure that, should the need arise, the money is there to pay for whatever treatments might be needed.