In part one, we reviewed the advantages of pet insurance including your pet being protected, pet insurance being an easy option to navigate, and it being available to most budgets. Now we’ll look at one more advantage and then dive straight into the disadvantages of pet insurance.
Have you been considering pet insurance? At our Carroll Gardens animal clinic, we’re here to help support you in the decisions you have to make for your pet. For more information and guidance on pet insurance, join us in today’s post!
It’s no surprise that owners who have pet insurance are more likely to seek care for their animals, and truly, who wants to have to decide between the life of their pet or accumulating massive debt?
Many pet owners have experienced an emergency illness or injury, and without pet insurance, cannot afford the vet bills and then have to elect “economic euthanasia,” which is a heartbreaking decision for any pet owner. When you invest in pet insurance, you may be able to give your pet the care they need, without having to make such a heavy decision.
Why invest in pet insurance? While there are many benefits, let’s take a look at the reasons it may not always be the optimal choice.
If you don’t have a relatively healthy and young animal, the premiums tend to be more pricey with an older animal or one that has pre-existing conditions. You are subject to monthly premiums at upwards of $50 or more per month.
While all pet insurance coverage will be different and despite pet insurance, you still have to be able to pay the bill upfront.
Pet insurance doesn’t function in the same way as we’re used to because there is no co-pay option where you get the services first and then get the insurance bill later. With pet insurance, you have to be able to pay everything upfront, and then after services you can submit a claim with the pet insurance company.
So, does pet insurance save you from covering monumental expenses? Not so much. This is why people tend to not only have pet insurance but also a separate savings account for their pets in case an emergency does occur.
It’s also important to remember that if your pet health insurance plan does get maxed out for the year or the lifetime, then you are still responsible for paying the bill in full.
Getting pet insurance is always a personal choice and we’re not here to sway your decision in any way. If your pet is relatively healthy and only needs routine vet care, monthly pet insurance may not be worth it to you. Again, pet insurance is always great to have should an emergency occur.
This is a deeply personal choice for pet owners but like other insurance options you have, you won’t necessarily save or make any money off of pet insurance, but on the other hand, should anything catastrophic happen, pet insurance is a wise investment. At the end of the day, pet insurance is really there as peace of mind for pet owners.
Pet insurance is always a gamble because you never know when or if your pet will face an injury or illness, and this can be an even harder decision if your pet is healthy. If pet insurance seems like a good safety net you’re willing to invest in, consider getting it when your pet is young and healthy for the best savings.
If you’re still on the fence, you can still be proactive by creating an emergency vet fund today by adding the money you would spend on pet insurance to the account.
Over the last two posts, we’ve encountered the advantages of pet insurance and the disadvantages, and while this will always be a personal choice, pet insurance is available to all pet owners.