Do You Need Pet Insurance?

Pet insurance is an investment that can be the right answer if you want to be prepared for serious medical emergencies for your pets. Some believe that a simple savings account is enough to accommodate the unexpected, but some would encourage otherwise.

sick cat
Qing xiang Yee

“It’s puzzling why we are a nation so in love with our pets, yet so slow to embrace the concept of pet insurance,” says Kristen Lynch, executive director of the North American Pet Health Insurance Association (NAPHIA), the consortium representing the voice for this pet industry.

But when a pet medical emergency strikes, just how financially prepared are you?

A Wise Choice

Pet insurance reimburses more than 80% of vet bills and includes great packages to make sure your pet lives as long and is happy as it could be. In view of this, here are a few reasons why getting pet insurance is a wise choice:

  • Allows you to pick your veterinarian. Unlike human health insurance policies that may require you to use a specific health care provider, pet insurance policies allow you to obtain care from the veterinarian of your choosing. You simply provide the veterinary bill to the insurance company for reimbursement of qualified expenses.
  • Does not discriminate against any breed or age of pet. While it is advisable to obtain pet insurance as soon as you adopt your pet to obtain lower premiums, you can also insure your pet years later.
  • Provides an easy way to budget pet care costs. Pet insurance policies can be paid monthly, quarterly, semi-annually or annually. You decide which payment plan works best for you. Most plans offer discounts for additional pets in the household.
  • Prevents dipping into the family’s emergency fund. You can set up a pet savings account, but it can be tough to discipline one’s self from dipping into this designated account when you face life’s monthly expenses or other major unexpected ones.
  • Veterinary cost is rising. Today the average vet bills can get as high as around $500 to $3000 depending on your pet’s illness. While vets claim this inflation is a result of development in drugs and medical technologies, many pet owners can’t afford this price. Because of this many pets die of sickness or are not given proper medical care. Pet insurance gives you financial solutions from these pricey vet bills and helps you take good care of your beloved pet.
  • It can cover third-party liabilities. Got a an overly friendly dog that likes to run around and tear up other people’s yards? Many pet insured policies cover third party liabilities that will help you refund expenses if your dog ever wrecks someone else’s property or injures someone accidentally. This will help you cover the cost of expensive property damages.
  • Pet insurance offers flexible packages. You can buy a package that will fit your needs and your budget, choosing an annual maximum package, deductible, or reimbursement percentage for services such as veterinary exams, surgeries, therapies, breed-specific conditions and dog care.
  • It can cover your pet’s hereditary condition. A lot of pets suffer from serious health problems and congenital conditions during their lifetime. Some of these conditions are inherited or are caused by severe inbreeding. In this case, it is recommended getting pet insurance as early as possible. Many pet insurance providers include age limits or restrictions that may require you to pay an extra fee.
  • It can help you find your missing/stolen pet. Many pet insured policies cover the cost of advertising for your missing pet. They also take the responsibility of placing a reward for returning your lost or stolen pet. Today, there are many pet trackers that can also be used to track your pet’s location which is handy if your pet goes missing or is stolen.
  • It helps you save. If you have pet insurance, you can refrain from using your family’s emergency fund or your travel savings. This will save you thousands of dollars of unexpected costs in times your pet gets severely injured and may need surgery. Aside from injuries, pet insurance also covers various illness such as cancer, upset stomach, and diabetes.
  • Pet insurance coverage could save, and extend the life of your pet. It enables you to authorize the medical treatment your pet needs should he develop cancer or require surgery.
  • It delivers peace of mind. Just like any other kind of insurance, pet insurance gives owners peace of mind by making them prepared for any unfortunate event that may befall their pet-like sickness or accidents. It also allows them to choose the best medical treatment available so they never worry about their beloved companion’s health.

Do you have pet insurance? What do you think about the coverage you have for your pet? Leave a comment below.

7 thoughts to “Do You Need Pet Insurance?”

  1. Great informative post.

    I actually never knew there was such a thing as pet insurance! I wish I knew this before my parents had to put down our boxer. Our dog became blind and he couldn’t even walk and this would have saved us tons of money for medical bills.

    Does pet insurance also cover the costs when you put down your animal when the time comes?

    1. I am glad that you found this article informative. That is a shame that your family did not know about pet insurance. It can be beneficial in a situation as you have described with your parents and your boxer (RIP). All pet insurance is not the same, so some companies include the cost of euthanasia in a policy, and others do not. and both include this in their policies. Some also include partial routine care coverage. It’s worth investigating to find the best plan for your pet family. Thanks for your comment.

  2. This is very important! My dog are something that got stuck into his bowels and he had to be operated in the middle of the night. The bills would have been staggering high without the insurance. I am with a yearly plan, gets paid together with all the other insurances for the house, cars, travel and free time!

    1. Your experience with your dog is a prime example of the important benefits of pet insurance. Just like with humans, it is the unexpected that can put us in a financial pinch. Thanks for sharing your personal story and I hope your doggy is doing well. — Lainey Feline

  3. My sisters cat was hit by a bus and had to have his leg amputated. They did not have insurance and it cost them a lot in veterinarian and surgery fees but once you choose to have a pet you have to do the best you can for them. They have now insured him (better late than never), hopefully they will never need to claim, but better safe than sorry.
    I think that it is very wise to insure your pets because vet expenses are huge and any help is a great benefit.
    I have a Jack Russell who has been diagnosed with an auto immune disease – wish I had read an article like this before it all started!

    1. Thank you, Elizabeth, for your comment about your experience with a serious pet accident in your family, and your insight concerning the responsibility we have as pet guardians to provide them with good care. I am sure there are cases where pet owners cannot afford to pay for medical care for an animal family member, and have to forego the procedure that may be life-saving. I hope your Jack Russell, and Cat-niece are hanging in there and being doted on immensely!

  4. You have motivated me from your article to start my search for pet insurance for my dog, he is now over seven years old and despite being full of energy and healthy I should be looking for pet insurance for him a long time ago.


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