Pet insurance: Is it worth it to get it for your pet? How do you know if your dog or cat needs to be put down? The answer, of course, depends on the person and their situation.
Here, we will talk about pet insurance and help you decide if it is right for you and your pet!
Why Is Pet Insurance Necessary?
A lot of the time, pets get deadly diseases or get hurt. They may also need to go to the doctor for regular check-ups and other medical procedures. When your pet needs to go to the vet, you will want to get the best care possible. A CNBC report says that unexpected veterinary care can cost you between $800 and $1500, but that’s not always the case. How old your pet is, what kind of breed it is, and where you live all play a role.
Cost of Pet Insurance
If you can’t pay a lot of money out of your pocket to pay for your pet’s medical bills, you should consider getting pet insurance. If your dog gets sick or hurt, pet insurance costs on average $585.40 per year or $48.78 per month, according to a report from the North American Pet Health Insurance Association (NAPHIA).
You can also change these premiums to fit your budget. Most insurance policies let you change how much money you get back, how much you pay in deductibles, or how much you pay in a year or per incident. Most of the time, pet insurance costs less over a long time than cash, but you might save money in the long run by not paying monthly premiums for treatment that your pet didn’t need to get.
Why Do I Need Pet Insurance?
Most pet insurance policies cover unexpected illnesses, accidents, injuries, tests, surgery, and emergency care, but not all cover everything you might need. These can be broken down into the three types of pet insurance policies shown below.
1. Accident Only Policies
These policies cover things like a swallowed object, bloating, cuts, fractures, poisoning, surgery, etc. They also cover things like your pets getting hurt. They might not cover things like intentional injuries and illnesses, regular check-ups, and pre-existing diseases if they don’t.
2. Accident and Illness Policies
In the event of an accident or a mild or severe illness like allergies or asthma, they pay for it. People who have health insurance can get care for treatment, surgery, hospitalization, and prescription drugs; some drugs may not be covered. They don’t cover pre-existing conditions or regular check-ups, so you have to pay for them yourself.
3. Wellness Policies
These include vaccinations, spay and neuter surgery, and regular tests. However, they don’t pay for any medical costs from sickness or accidents.
Do You Need Pet Insurance?
This doesn’t mean that you can’t do without pet insurance. Because of this, it would be best to make sure that you can afford to pay for expensive treatments if your pet ever needs them. Many of these costs will come up at the last minute, so you should set aside some money just in case.