Good for Your Pet and Your Wallet — Why Pet Insurance is DEFINITELY Worth It
For the millions of us who are pet owners, it’s the moment we all fear—hearing from the vet that our beloved companion has a serious health problem and needs a costly treatment we can’t afford.
But you can avoid this tragic predicament by getting an affordable pet insurance policy. This simple step will help you cover the costs of veterinary care.
Make Decisions Based on Your Pet’s Well-Being, Not Your Wallet
Imagine your mixed-breed retriever Rusty suddenly starts acting lethargic and is in obvious pain. When you take him to the vet, it turns out there’s a chewed-up sock stuck in Rusty’s tummy.
The vet gives you two options: do an endoscopy to remove the sock or wait and see if it passes on its own. Since you don’t have pet insurance, you skip the $1,500 endoscopy.
Sadly, things only get worse while you wait it out. When you go back to the vet, she tells you Rusty’s going to need emergency surgery to remove the sock.
Fortunately, Rusty’s emergency surgery is successful. Unfortunately, the vet hands you a bill for nearly $4,000. If you’re like most people and don’t have a lot of savings, this could put you in a real pinch.
But if you’d had pet insurance when Rusty first started feeling sick, you probably would’ve gone for the endoscopy since insurance covers up to 90 percent of the cost. So, Rusty would’ve felt better faster and your overall vet bill would’ve been much lower.
Expect the Unexpected Costs Involved With Pet Ownership
Just like us, pets need good health care. A 2020 Harris poll found that dog owners spend an average of $241 a year for routine veterinary checkups and vaccinations, while cat owners spend $125. But that’s just for routine care.
Chances are you’ll need to deal with unexpected health problems and the expenses that come with them. These issues can range from something as simple as a thorn stuck in a paw to more serious conditions like kidney disease. A recent American Pet Products Association survey found the average veterinary surgical visit costs $426 for dogs and $214 for cats. But prices for procedures can go much, much higher.
For example, even common injuries like broken bones come with hefty price tags. According to the University of Illinois, a fracture repair costs $2,000 and up.
If you don’t have pet insurance, you could find yourself in a situation where you have to cut back on your other expenses to care for your pet. Or worse, you might not be able to afford the treatment your furry friend desperately needs.
Fortunately, you don’t have to break the bank to get quality pet insurance. Many plans are less than $1 a day. So for less than the cost of your daily drip coffee, pet insurance covers 70 to 90 percent of your pet’s eligible expenses.
Get Pet Insurance Before You Need It
You may think pet insurance can wait until there’s an emergency, but that would be a costly mistake. Since pre-existing conditions typically aren’t covered, you shouldn’t wait until your pet is sick to sign up.
Similarly, there are often waiting periods before coverage kicks in. So, if you wait to sign up until your pet needs it, you may be in for a rude awakening. Try explaining to Rusty why he has to wait two weeks to fix that broken bone.
Get the Right Policy for You and Your Pet
If you’re like most of us, your pet is a member of the family. Since you can’t put a price on how much they mean to you, it’s a smart idea to invest in an affordable safeguard. For about $1 a day, you can keep your pet happy and healthy for years to come.
To protect your pet and your wallet, look for a policy with:
- Up to 90 percent reimbursement
- Coverage for routine care, not just emergencies
- Easy claims processing
- Customizable plans