Whether humans or pets, there is no way to predict what will happen in the future.
And similarly, healthcare can be expensive for humans as well as pets, getting pet insurance is the best way to ensure your furry friend gets access to the best veterinary care.
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Is the Cost of Pet Insurance Worth it?
Millions of dog owners in the United States pay approximately $250 annually for regular vet visits.
But this does not include specialty veterinary care—ophthalmologists, oncologists, neurologists, etc.
In terms of costs, the cost for a broken limb is upwards of $1500 and a senior dog cataract runs along with $1000.
So, ask yourself can you afford these high costs of pet health care in the event of an emergency?
With these knee-high costs, you may think that all pet owners will have pet insurance.
But shockingly, just a meager 1 percent of pet owners have bought a pet insurance policy.
Some pets opt for what is called self-insurance, meaning they are willing to go into debt, that is take out a loan to pay for these unexpected yet expensive pet healthcare costs.
Tips on Buying Pet Insurance
Pet insurance is actually a win-win situation—it gives you peace of mind knowing that you are covered, and covers your pet in case they need to use the coverage in the future.
That said, here are a few tips on how to find the best pet insurance.
When shopping for the best pet insurance, you will be spoilt for choice, given that there are several different companies to choose from.
Several companies offer pet insurance as part of their services, which is a good thing, but the downside also makes it harder to choose the right one.
The first you should do is make a note of important information to give the pet insurance company so that you get the right coverage and quote.
The first, most important piece of information insurance agents will ask you is the type of pet you would like to insure.
You have to provide accurate information as some insurance companies do not insure certain pets.
For example, if you have a crossbreed dog, you will have to provide details about its parents.
Further, insurance companies will also ask if your pet has any prior or ongoing health issues, and of course the exact age of your pet.
All these questions must be answered truthfully, as if incorrect may void your claim when you make one.
To explain briefly, a deductible is an amount an insurance company requires you to pay out of your own pocket for each claim.
Say, for example, you submit a pet insurance claim for $1000 for an emergency room visit, and your insurance covers 80 percent, you will have to pay $200 as deductible upfront, and the company will cover the other $800.
What do Most Pet Insurance Plans Cover?
Even though most pet insurance plans do offer comprehensive coverage you’re your paw-friend, there are certain conditions they may not insure.
However, some insurance companies may cover special treatments, but for an added cost.
For example, limb deformity or deafness that the pet is born with will probably not be covered.
Further, hereditary conditions such as hip or elbow dysplasia will probably not be covered, as these two conditions tend to affect pets later on in life, and are expensive to treat.
Cost of Pet Insurance
The first thing to understand with regards to cost is that the best pet insurance is not always the cheapest.
What you should aim for instead is getting maximum coverage for your pet at an affordable price.
The cost of pet insurance depends on several factors including the type of pet, breed, location, health conditions, and much more.
If you have a pet, protecting it with the right healthcare coverage should not be an option, because the inevitable can happen.
When shopping for the best pet insurance in Wisconsin or even the best pet insurance in New York, you have several options to choose from.
But you should buy a pet insurance policy that caters specifically to both the short-term and long-term healthcare needs of your pet.