Insurance helps us offset unforseen big expenses with smaller monthly payments. In the same way it can cover our health, our homes, and our belongings, insurance can also cover our pets in case an emergency vet visit is needed.
Since an emergency procedure or a chronic health condition developed later in your dog’s life can quickly cost you thousands of dollars, buying pet insurance now might be a decision worth making. But each policy comes with limitations, and doing your research in advance can help you determine if pet insurance is right for your situation.
When considering insurance for your cat or dog, know that it works similarly to health insurance for yourself. There are going to be premiums that you pay monthly, a deductible, and coverage limits. There can also be exclusions to what is covered and many pets with pre existing conditions are not eligible.
But if you have a puppy, kitten, or young pet without any health conditions, pet insurance might be an option. Keep these limitations in mind when shopping around. Some may be found in the fine print of your plan:
It is also worth doing some research into the process for filing a claim after a vet bill. Many insurance agencies handle all claims online or over the phone now, making the process simple. Make sure the plan you choose has a process you will find convenient, even when already dealing with stressful vet visits.
While there are some benefits to pet insurance, it is not a necessity and many responsible dog and cat owners go without. You may find that the limitations and monthly premiums aren’t worth it. If you have the finances to handle a larger vet bill, there may be little point to the additional expenditure. Alternatively, you could use a special savings account or prepaid credit card to set aside money for emergencies.
Whatever you choose, you should have a financial plan in place if your furry friend needs an unexpected visit to the vet. Just like providing them with food and affection, being able to take care of their health is a core component of being a pet parent.