Things have certainly changed over the last few decades when we look at how we care for our pets. As a child, I remember that we took our pets to the vet for rabies shots and if they were sick. That was it. Now perhaps my parents weren’t the most caring pet owners, but it seemed like that was commonplace in my little circle in the world. Now people do routine wellness visits and sick visits in the same way that one would do with their children. Is pet insurance worth it?
What is Pet Insurance?
Pet insurance functions just like health insurance for a human being. You pay a premium and have a deductible to meet. Many of them cover wellness visits, dental cleanings, and can be helpful if your pet becomes ill or needs surgery. Just like human health insurance, the costs and coverage vary based on the company offering pet insurance. Many people will buy health insurance when the pet is relatively young when costs are low. However, we do find that many pet insurance costs rise as the pet ages, and the likelihood of extra care increases. Currently, many companies are expanding to offering coverage for other issues like neurology and urology. These are often something you can add and of course the cost of the insurance rises.
The Fine Print
One thing I did find is that some things are taken into consideration that many people aren’t quite aware of. They do take into consideration the type of pet that the coverage is for. Pugs are well-known for their breathing issues because of their small windpipes. Because of the increased health risks because of the flaw in the breed, the cost will rise. The location of your pet will also affect cost. If you have a dog in the city, the risks of that dog of being injured rises and the cost rises. Which also leads to the consideration of the indoor and outdoor risks that your pet could face.
So, Is Pet Insurance Worth It?
Ironically, the answer is not a black and white answer. If you are someone who has plenty of room in the budget for the care and cost, then it would be worth it. This is simply since you can save money on procedures for your pet. However, if your budget is a bit tighter than it may not work out in your favor. The very best thing to do is have a checkup done with a vet and talk about possible issues that could arise in the future. Then sit and create a mock budget to see if you can save enough for care and emergency funding for illness or injury.
Ultimately, I recommend asking your vet if they recommend pet insurance and if they have a particular insurance company they recommend. Do some comparison shopping just as you would for your own health insurance. Ask friends and family about their experiences. Ultimately, you will find the decision that works best for you.
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