With the average routine vet visit nearing $300 and managing chronic health issues running thousands of dollars, purchasing insurance is the best way to protect your pet’s health and your hard-earned money. Policies for your furry family members are available in a variety of options although combo accident and illness plans are the most common. These typically include general checkups, routine treatments and emergency operations. You can opt for a cheaper accident-only policy or a more expensive one that covers high-cost treatments and therapies.
Investing in a monthly pet insurance plan will reap these five benefits:
1. Easily Afford Health Care
If you have pets, then at some point you will shell out money to take care of their health. Most of us don’t have an extra $2,000 laying around to pay an unexpected veterinarian bill. Rather than charging the fees on a high-interest credit card or borrowing money, pet insurance lets you plan for this inevitable event at a budgeted monthly cost. The average annual premium for a dog’s basic accident and illness plan is nearly $475 while cat owners pay around $285, according to Consumer Reports.
2. Be Prepared for Emergencies
An emergency visit to the after-hours clinic for an injury or sudden illness is both scary and expensive. Pet insurance policies cover accidents and the additional expenses from treatments, surgeries and medications. Although you will likely have to pay out of pocket upfront to meet the deductible and copayments, the insurance company will send you a reimbursement for the remaining vet bill typically within two to four weeks. Some companies make direct reimbursements to the clinic on the date of service. For accident-only coverage, policy premiums for dogs are cut by two-thirds, dropping to $158, while cats average $132 annually.
3. Keep Your Pet Healthy
Just as humans benefit from a yearly checkup with their physicians to prevent new ailments and catch developing ones, animals that receive routine care also live longer, fuller lives. Young animals need all sorts of care, ranging from vaccinations to sterilizations. With a health plan, you are more likely to follow up with regular exams, flea and tick treatments, booster shots and other preventative care screenings. This continuous care also allows your veterinarian to monitor your pet for unhealthy weight gain, skin and ear problems and other common animal conditions to make sure your fur baby ages gracefully.
4. Access High-Quality Treatment
Pet insurance not only helps you afford high-cost care so that you don’t have to make heartbreaking decisions during emotional moments, but it also gives you access to the best treatments available. It is common for pancreatitis surgery to total $900 or cancer treatments to reach $5,000. With pet insurance, your out-of-pocket cost for the surgery would plummet to $300. Long-term care for digestive issues, allergies, ear infections, arthritis and other ailments are covered as well when you purchase a comprehensive wellness plan.
5. Customized Care Plans
The majority of people purchase accident and illness protection plans, but your policy can be customized to fit your needs and budget. Most plans do not cover preexisting conditions, congenital disorders or breed-specific issues, such as deafness in Dalmatians and cardiomyopathy in Great Danes, unless you opt for a premium rider. Pet insurance plans allow you to see any licensed veterinarian in the U.S., so you are not tied to a specific clinic and can follow your favorite animal doctor. This means you also have access to any vet in the country if you are traveling out of town with your pet when an accident happens.
Insurance is usually cheaper and easier to get for younger pets although higher-priced plans do cover older companions. Rates may differ by breed, and prices rise for purebreds since hereditary conditions are common. Most insurance coverage is designed for dogs and cats, but you can purchase policies for nearly any type of animal, and remember to ask for discounts if you are adding multiple pets to a policy.
