When choosing a pet to bring into your home you may not think about insuring the pet. However, purchasing pet insurance or not is something you will need to make a decision about. Having pet insurance means that you will be mostly protected from paying exorbitant amounts in medical bills when your pet gets sick or injured. Is it really worth it to have pet insurance?
Questions to Answer
The biggest factor as to whether pet insurance is worth it or not depends on your answer to three questions. The first question is, how much would you be willing to pay if your pet has a serious emergency? The second is, how much could you really pay? The third and last question is, how much tolerance you have for risk?
The cost for an ear infection or some other small issue will only cost you a couple of hundred dollars, more serious health issues will cost you thousands upon thousands of dollars. If you do not purchase pet insurance you will need to decide if you can afford the care your pet will need or not. Are you willing to put your pet down because you cannot afford the treatment? Can you pay for insurance? Are you okay with constantly hoping that nothing happens to your pet?
Benefits of Having Insurance
Sometimes the benefits of having insurance are not seen right away. The thing is you may not use or need the insurance every year. If your pet does not need major treatment every year you may feel you are throwing money away. But just because you do not use the insurance every year does not mean it is not benefiting you. If you insure your pet and use it one year and not the next, you are still protecting yourself and your pet in the future.
Downsides of Pet Insurance
Just like anything in life, there will be a flip side. Pet insurance does not cover routine check-ups, preexisting conditions, or smaller health issues. This means that you will still pay for several types of appointments for your pet. Pet insurance will really come in handy if your pet experiences an accident or unexpected illness.
Cost of Insurance
What you will pay for insurance depends on where you live, your pet’s age and breed, and the level of coverage you want. The average range you will pay for insurance is between $25 and $70 for a dog and between $10 and $40 for a cat. These numbers will still vary depending on how much coverage you want.
If you are considering insuring your pet it would be a good idea to shop around. Do not just go for the first company you hear about. Take the time to get quotes and research plans. As you do your homework you will find the best plan and cost for you.
Before you decide whether you are going to purchase pet insurance or not sit down and look over your finances. Discuss this decision with whoever else in your home will be affected by purchasing pet insurance.
