Moments spent with your pet are priceless but vet bills, not so much. While most pet owners know that they can expect to spend money on the cost of pet food and daily pet care, most don't give much thought to pet insurance. This makes sense since pet insurance is not really considered a basic need for a pet's daily survival. However, pet insurance can be beneficial, especially if your pet falls seriously ill or gets into an accident that may require lengthy hospitalization.
Read on to know why getting insurance for your pet makes sense.
There are many instances where you can use pet insurance. These include:
Accidents
Your pet can get into accidents even if he spends most of his time at home. Accidental poisoning or manual trauma from being run over – while tragic things to imagine, occur to pets every year. You can cover the costs of treatment and recovery with pet insurance.
Basic Prevention
Pet insurance plans can cover expenses for basic health protection, such as regular vaccinations and preventive medications. Some policies may even cover expenses for screening and diagnoses of common diseases.
Illnesses
Some breeds are likely to develop specific illnesses as they get older. Your pet can fall ill and require medications and hospitalization. Expenses at the vet could pile up but you can cover these costs with your insurance.
Dental Work
Pets can still develop dental problems and dental repair costs can be as expensive as dental costs for humans. In worst-case scenarios, dental problems can lead to serious complications that can affect your pet's overall health. Pet insurance can cover these costs to ensure that your pet's teeth and gums stay in good shape.
How to Shop for Pet Insurance
Pet insurance is not a one size fits all thing. Insurers cover different breeds according to the specific need of each breed. This is why it is important to do your due diligence when reading up on policies to see which insurance plan provides the most comprehensive coverage for your pet's needs.
Important things to ask for are inclusions, exclusions, and restrictions. Inclusions are the conditions covered by the policy. Your policy should include accidents, illnesses, diseases, and other health problems your pet is likely to have. Exclusions are conditions that are outside of coverage. This means that you won't be able to make a claim based on an illness or injury if the policy does not cover it. Restrictions could be limits on the amount you can claim for covered conditions.
Also, ask yourself how much you can afford. Standard coverage average around USD 30-45 per month. These policies usually cover genetic and congenital conditions, online visits, and even alternative therapies.
You can also find cheaper insurances that come with attractive features such as diminishing deductibles and fixed premiums that average around $15-25. Cheaper insurance can offer zero payout limits, zero lifetime limits, and fixed premiums. Still, it may come with downsides, such as no preventive healthcare or dental coverage. If you can manage the cost of preventive or dental care, going for a cheaper premium may be a good choice.
Your choice of policy should reflect the conditions your pet is more likely to encounter. For example, accident insurance can be a good option if you frequently take your pet on the road when traveling or doing outdoor activities.
Finally, look at the provider's track record. You want to shop around first so you can choose the provider that offers the best mix of comprehensive coverage, reliability, and ethical practices. Do checks on pet insurers to see which ones are trusted by pet owners.
Early Application: Why It Is Important
It is important to take out coverage when your pet is young, usually eight weeks or younger. This ensures that you won't be excluded from illness claims due to a pre-existing condition. Taking out coverage early also allows you to get lower premiums. However, premiums may be reviewed each year and could increase as your pet gets older.
Do You Need Pet Insurance?
Pet insurance can be a tremendous help if you don't have cash on hand to meet unexpected and hefty vet bills. If your pet has a good chance of developing a disease or you and your pet travel frequently, getting insurance can be helpful. Knowing that your pet's vet and other needs are covered is another layer of security and assurance that you can pay for your pet's emergency care when he or she needs it.
