Your canine or feline companion is a member of your family. If you have health insurance for yourself, why not cover your pet’s health and medical needs as well? Pet insurance can help you to manage the costs associated with keeping your best friend healthy and happy. Here are some of the reasons why you should consider getting pet insurance.
Veterinary costs are rising
Vet bills are getting more and more expensive. The ten most common medical conditions for dogs and cats cost insurance policyholders over $81 million in 2016. Certain diagnostic procedures could cost a few thousand dollars, and that is before treatment has even begun. Urinary obstruction in a cat will set you back up to $3,000 while orthopedic surgery on dogs can cost as much as $7,000. While many pet owners will spare no costs to save their beloved companions, few can afford it without insurance.
Seek immediate treatment
Just like us, our animal companions can get sick or injured. An unforeseen illness or accident could mean a trip to the veterinary emergency room. When your puppy runs into a wire fence or your cat eats plastic again, you want to be able to head straight to the vet without worrying about costs. Pet insurance offers peace of mind and allows you to choose the best possible medical treatment to take care of your pet’s health.
Manage hereditary or breed-specific conditions
Many animals suffer from severe health issues and congenital conditions. Some conditions are inherited from their parents while others are caused by poor breeding practices. According to the Orthopedic Foundation for Animals (OFA), bulldogs and pugs have a 70 percent likelihood of developing hip dysplasia and English setters have a 25 percent chance of suffering from autoimmune thyroiditis. To maintain a good quality of life for your pet, you will need to spend a hefty sum to treat and manage these conditions.
Extend life expectancy
Regular check-ups for your pet can ensure that any developing or underlying conditions are nipped in the bud. Unfortunately, many pet owners who are worried about costs will put off vet visits until the problems are too serious to ignore. Some pet insurance policies also cover maintenance treatment such as parasite medication and prescription diet food that can help to keep your pet in the pink of health.
Choose the best veterinarian
When you have pet insurance, you have the freedom to choose the best vet for your best friend. Instead of having to choose a cheaper vet that may not be as experienced or a clinic with outdated facilities, you can take your pet to a vet that will provide top-quality treatment. As long as you visit a licensed vet and have the appropriate paperwork, you can make a claim on your pet insurance and have your costs reimbursed.
Protect your savings
Most people save up for life goals such as a vacation or a mortgage deposit but few save up for emergency pet medical bills. Without insurance, you will have to dip into your savings when an unexpected event lands your pet in an animal hospital. Pet insurance claims can be processed in a handful of days, protecting your hard-won savings. In special circumstances, pet insurance providers can even arrange to pay the vet directly, sparing you from having to handle out-of-pocket costs.
Premiums are affordable
Depending on the age, breed, and location of your pet, premiums can range from $10 to $100 a month. Typically, the younger your pet is, the more affordable the premium will be. So, it pays to start early. For a kitten or puppy, the monthly premium could cost less than two Starbucks coffees. Some pet insurance providers will also extend discounts to policyholders who pay for an entire year upfront or insure multiple pets at once.
Coverage can be customized
Pet insurance providers usually offer a choice of several coverage options to help clients manage their budgets. Depending on your pet’s health risks, you can choose the tier of coverage and co-pay arrangement that works best for you. For instance, pet insurance Canada pays out 80 percent of your total vet expenses. If you think your pet will only visit the vet very rarely, you can choose to pay a lower premium but have a higher deductible. You can also choose a lower reimbursement or coverage limit to save on premium costs.
Additional perks
Many pet insurance policies come with additional perks that can come in handy. One of these is that they can cover the advertising and reward money if your pet is lost or stolen. Another benefit is that pet insurance providers can cover boarding costs for your pet if you or your family members are hospitalized due to an accident or illness. They can also reimburse you for travel and accommodation costs if you have to cancel or shorten a holiday trip to provide life-saving treatment for your pet.
Unless you have a secret stash of money hidden away for your pet’s medical emergencies, you should purchase pet insurance. Buying insurance for your pet is a prudent investment that protects the health of your beloved companion while securing your finances.