Pet Insurance – Pluses and Minuses
Posted by Ceca on May 19, 2016 in Pet Health | Comments Off on Pet Insurance – Pluses and Minuses
Most people have health insurance, so why wouldn’t their pets have it? Nevertheless, pet insurance policies are so full of exclusions and fine print, that you should by all means compare pet insurance options. Skip that step and you’ll end up paying more money for worse coverage. Furthermore, not all owners and pets need pet insurance; it depends on your and your pet’s lifestyle whether it’s something you both would benefit from. So, outline what you would like to be covered, how much you are willing to pay per month and what type of illnesses/injuries your furry companions are likely to suffer during their lifetimes. Done? Then, it’s time to present you some pros and cons of pet insurance to help you decide whether or not it is good for you.
Pluses
- Deductibles are low. Unlike your own health insurance, pet insurance usually has low deductibles. There are, however, some insuring companies that offer clients to choose their own deductible based on how high of a premium they want.
- Pet insurance policies commonly include at least one free visit annually.
- Depending on the plan and the company, sometimes owners can be reimbursed in case they needed to cut a holiday short, had to pay to board pets because of an emergency or a family death, or in case of their pets’ death.
- For a fairly low monthly premium, most pet insurance plans cover serious illnesses and injuries. So, in case you want to buy a peace of mind in case of catastrophic events, getting a pet insurance policy is a good idea.
- You can go to any vet you choose, because most plans cover different pet hospitals and practices. This means if you’re not in your area and your puppy gets injured, you could visit the nearest vet without any problem at all. There are, however, some private plans which only work at certain pet health centers.
Minuses
- No matter which carrier or plan you pick, each year you are going to be faced with a maximum benefit. Therefore, if you have illness laden or accident-prone cat, you will probably foot part of the bill.
- Working and sport injuries are not covered in most cases. Of course, if you choose the most expensive premium, these incidents can be covered, though.
- With human health insurance plans, people need to pay their co-pay out of pocket. Pet insurance doesn’t work this way. First you pay the bill and then send it to the carrier for reimbursement. Money is, thus, necessary upfront.
- In case of preexisting conditions, pet insurance won’t even be possible for your beloved pet or it would be very expensive. At this point, it’s more recommended to put the money toward the (expected) treatments.
- Most plans (or almost all plans) don’t cover routine care.
If you’re not really satisfied with the positive and negative sides of pet insurance, should you just forget about it? I don’t think so. There’s nothing perfect in this world and pet insurance is no exception. And, let’s be honest, what type of insurance in general does pay for itself? However, what we’re paying for is probably peace of mind if the worst happens and our pets need treatment we couldn’t afford. Is there any alternative? You could, for example, save a set monthly amount for your pet emergency. In this case, start as soon as you adopt/purchase your pet.
Most people have health insurance, so why wouldn’t their pets have it? Nevertheless, pet insurance policies are so full of exclusions and fine print, that you should by all means compare pet insurance options. Skip that step and you’ll end up paying more money for worse coverage. Furthermore, not all owners and pets need pet insurance; it depends on your and your pet’s lifestyle whether it’s something you both would benefit from. So, outline what you would like to be covered, how much you are willing to pay per month and what type of illnesses/injuries your furry companions are likely to suffer during their lifetimes. Done? Then, it’s time to present you some pros and cons of pet insurance to help you decide whether or not it is good for you.