When you first adopt a pet, it’s probably one of the happiest moments of your life.
But once the initial excitement passes, you may begin to think about the financial implications of having this new member of your family, and that includes thinking about pet insurance.
This type of insurance is not compulsory, so you don’t need to worry about being forced into getting it.
However, pet insurance can be a great idea for anyone who owns a pet and wants to reduce their future costs if something unexpected happens.
Here are a few things to consider when shopping for pet insurance.
Knowing What’s Covered & What’s Not
The first thing you should do when shopping around for a pet insurance plan is to review the coverage details and make sure you know exactly what is and isn’t covered and what you will need to pay.
There are a few areas where pet insurance policies tend to differ. These are:
The breed of your pet: Some insurance companies may exclude certain breeds altogether, while some may charge significantly more for pets of a certain breed.
Your pet’s age: Age limits vary by insurance company, and some may require your pet to be over a certain age to be covered.
The type of illness or injury your pet is suffering from: Some policies cover certain illnesses but not others, and some cover accidents but not illnesses.
Prevention Is Key
Some pet owners believe that pet insurance is an unnecessary extravagance. However, these people fail to see the value of prevention, and pet insurance is all about prevention.
Dog health insurance, for example, will cover the cost of things like heartworm prevention and flea treatments. This means that you won’t have to pay for these things yourself.
If you have a cat, a feline health insurance policy will cover the cost of a vaccination schedule to prevent certain illnesses.
If you don’t have an animal health insurance policy and you don’t want to pay out of pocket for these things, you should strongly consider starting one.
A Safety Net for Emergencies
A pet health insurance policy will give you a safety net for sudden, unexpected illnesses or accidents that require expensive treatment.
When you have an animal health insurance policy, you will have a financial safety net to fall back on.
This means that if your pet contracts an expensive illness or suffers a serious injury, you will have the money to help pay for the care that it requires.
This is something that animal health insurance policies do really well. They are designed to cover sudden and expensive illnesses and injuries that you might otherwise not be able to afford to treat.
Pet insurance policies may also cover more routine expenses, depending on the policy.
This can include things like basic vaccinations, deworming treatments, and blood tests.
Help With Bills During Recovery Time
If your pet has to be hospitalised for an injury or illness and has pet health insurance, the policy will usually help to cover some of the bills while your pet is in recovery. For example, if your dog breaks a leg while out on a walk and needs surgery, the health insurance policy will probably cover some of the cost of the surgery.
This can help you avoid having to pay a hefty bill while your pet is still recovering.
Pet health insurance policies will usually have a coverage maximum, which is the highest amount that it will pay out for any one injury or illness. Once your pet has reached this amount, the policy will no longer help to cover any of the bills.
However, you can usually renew your policy annually and get a new coverage maximum.
Pet insurance is an excellent idea for any pet owner who is worried about the financial implications of an unexpected illness or accident affecting their pet.
There are a few things to consider when shopping for a pet insurance policy.
Make sure you understand which illnesses and injuries are covered and which aren’t, and what your maximum coverage amount is.
Once you have found a pet insurance policy that you are happy with and that is an appropriate price for your situation, you should keep it in place as long as your pet is alive.
And remember, pet insurance is a long-term investment that will help you to avoid having to pay large bills as a result of your pet getting sick or injured.