Is Pet Insurance Costly? Is It Worth It?

Pet insurance seems like a great idea, but are the premiums and the deductibles worth it? If you’re on the fence about pet insurance, or if you currently have pet insurance, this article will help you make an informed decision about whether or not it’s worth it to have pet insurance and which company would be best to go with. 

Hopefully by the end of this article, you’ll feel more knowledgeable about whether or not pet insurance makes sense for your family!

Why are pet insurance plans so expensive?

Pet insurance is costly because it is a pet necessity. If you were in an accident or became very ill, there would be no way to pay for your treatment. Your bill may cost as much as $5000 and up, depending on how complicated your treatment is. 

Having pet insurance will allow you to recoup at least some of that money so that you can continue to provide for your pets health and well-being without going into personal debt.

What should I be aware of before choosing a pet insurance plan?

Pet insurance can help relieve some of the financial burden of veterinary care, but you should be aware of a few things before choosing a plan. 

First, while pet insurance may be worthwhile in some cases, it’s not always necessary and can increase your costs if you don’t have any major medical problems with your pet.

How do vet bills fit into my budget?

Pets can be some of our best friends and companions, and yet their health needs can drain our bank accounts in an instant. 

Preventive care is key, but even with that you may need pet insurance to fill any gaps. How do vet bills fit into your budget, and how much are you willing to pay for pet insurance?

  • Accidents

Even with pet insurance, pet owners may face very high costs if their pets have accidents that aren’t covered by their policy. For example, dental surgery and procedures are often excluded from pet health insurance policies. 

If you have a purebred dog with expensive pedigree who develops dental issues, you could find yourself paying thousands of dollars out-of-pocket for veterinary care that isn’t covered by your plan.

  • Pre-existing conditions

Many pet insurance policies don’t cover pre-existing conditions. This means that if your pet has a condition before you purchase insurance, you will likely be responsible for any future treatment costs. 

The good news is that many plans have an elimination period—if your pet was perfectly healthy when you purchased their policy, they may still be covered up to 14 days after you first enroll them in it.

How do I choose the right deductible, co-pay and reimbursement percentage for my situation?

There are lots of variables when it comes to pet insurance. The two most important questions pet owners should ask themselves before purchasing pet insurance are: 

What is my budget, and how do I plan on using it? and Am I prepared to make regular payments without fail? Once you’ve answered these questions, it will be easier to determine what type of coverage you need.

Do all pet insurance companies offer coverage in all 50 states?

Pet insurance companies can and do cover pets in all 50 states. Some pet insurance companies are more widespread than others; it’s a good idea to check your provider’s map to see if they service your area. 

Pet insurance is a very competitive industry, so you should also compare costs across providers to make sure you’re getting your pet coverage for an affordable price.

Are there other reasons why I should consider buying pet insurance besides financial reasons?

There are many reasons to consider purchasing pet insurance. Pet insurance can help protect your pet against life-threatening illnesses and injuries that may not be covered by your current pet plan. 

Most importantly, pet insurance can provide financial protection to you as well as your pet should he or she become ill or injured in a way that could cost you thousands of dollars in care. Pet insurance can also help increase coverage for chronic conditions that may require long-term medication.

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Christophe Rude
Christophe Rude
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