Pet Wellness Guides > 11 Benefits of Pet Insurance - Pet Insurance Review

11 Benefits of Pet Insurance

Posted: 07/26/2023 | BY: Jenna Bruce | Categories: Cat , Dog , Health problems , Pet care

If you’re reading this article there’s a very good chance you’re considering enrolling your fur baby into a pet insurance plan. Maybe you’re like the 76% of pet parents who, in a recent survey, said they would go into debt to save their fur baby’s life. But maybe you’d rather not go into debt to ensure your pet gets the care they need should a major accident or illness occur and so you’re wondering about the benefits of pet insurance? 

We’re glad you asked! Let’s take a look at some of the biggest benefits of pet insurance and why you should consider enrolling your pet into a plan.

Save Money

Let’s start with the most obvious benefit and the one people think of when they consider getting pet insurance. Having a plan will save you money should your fur baby become very ill or injured. And potentially a lot of money.

Pet insurance works similarly to human health insurance in that you will need to pay a small deductible. Once you have, your pet insurance plan will cover a percentage of the rest of the bill. In some cases, a plan may cover as much as 90% of the bill. 

So let’s say your pup ingested something he shouldn’t have and required an emergency surgery and hospitalization. And let’s say the total bill was $4,000. You paid the deductible of $250, leaving $3,750 to be paid. If your plan reimburses you for 90% of the bill, then that means you only pay $375. So you will have paid a total of $625 and your pet insurance plan will have paid $3,375. That’s a BIG savings!

Focus on What Matters

The only thing worse than dealing with a sudden and unexpected accident or illness is worrying about how you’re going to pay for it. You’re a nervous wreck and sad and scared and on TOP of those emotions is the anxiety of being hit with a bill that will do some major financial damage. Having pet insurance gives you peace of mind. When disaster strikes you can focus on what matters – doing what needs to be done to get your fur baby well.

Have More Options

A pet insurance plan gives you more treatment options. When you lack the necessary funds, you have fewer options of care. Maybe you simply can’t afford the treatment that will bring the best health outcome for your fur baby. Knowing you will have help paying the bill – which can be thousands of dollars – means you can get those life-saving treatments, no matter the cost.

Use Any Vet of Your Choosing

With human health insurance, you’re limited to seeing only those doctors in your network. Pet insurance is different because you can see any vet or vet specialist you choose. This means if you’ve heard of a wonderful veterinary cardiologist who can help your pup’s heart condition, you don’t need anyone’s approval.

Another benefit of pet insurance is that you don’t need a referral from a doctor to see the specialist of your choosing. This is great for those after hour emergencies or emergencies that happen on a holiday when your regular vet is closed and the only option is a specialty clinic or hospital. 

Can Get Coverage for Older Pets

We always recommend pet parents enroll their pets as early as possible to get the lowest premiums possible. That being said, you can enroll an older pet as well. Sometimes we fall in love with an older dog or cat in a shelter and we want to ensure we can take the very best care of them. Many pet insurance companies don’t have an upper age limit. Those that do usually allow you to enroll your dog or cat up until the age of 14.

Pet Insurance Forces You to Budget

Many pet parents have the best of intentions. They say they’re going to set money aside for pet emergencies, but then they don’t. Or maybe they manage to set a couple thousands dollars aside, and then their furnace needs to be replaced and they end up spending most or all of what they saved.

Life is unpredictable and we never know when our fur baby is going to have an accident or become very ill or get diagnosed with something awful. Pet insurance forces us to be responsible and put money aside in the way of monthly premiums so the money is there for us when we need it. 

Customizable Plans

In a way, pet insurance is even more flexible than human health insurance when it comes to finding the right plan. Most providers offer a range of policies at different price points. Most will allow you to tweak and adjust to come up with your own deductible and reimbursement percentage so you end up with a monthly premium you can comfortably afford. 

Keep Your Pet Healthy

Pet insurance isn’t just about having funds ready should a major illness or injury occur. Many plans have a wellness package that helps you cover the cost of preventative care. And let’s face it, it’s preventative care that often is neglected, which leads to illnesses that would have never happened if you’d gotten your fur baby to the vet for regular checkups. If regular vet visits are something that you find too costly, look for a plan that covers things like vaccinations, dental care, and routine wellness checkups.

Plan for Future Medical Costs

Besides lower monthly premiums, there is another reason you should enroll your fur baby when they are young and healthy. Insurance providers will not cover pre-existing conditions. And let’s face it, the older our pets get, the more health conditions they develop. Enrolling your pet early helps you to plan for future medical costs associated with things like arthritis, kidney disease, diabetes and even cancer.

Some Preventative Medications May be Covered

There are a lot of costs to owning a dog or cat. As an example, a cat’s heartworm, flea and tick preventative can cost roughly $140 if not more. The same preventative medications for a dog can cost as much as $185 or even more. 

Sadly, many pet parents will skip these medications because of the cost, setting their pet up for a potential infestation or parasite-born disease. With the right pet insurance policy, you can get help covering the cost of these medications and others. 

You Don’t Have to Drain Your Savings or Carry High Credit Card Interest Payments

Most pet parents simply don’t have a sizable chunk of money set aside for pet emergencies. And so they end up having to tap into their savings account, sometimes for thousands or even tens of thousands of dollars. Then they are put into a financial bind when, down the road, they need that money to fix their family’s only car or fix their roof.

Some pet parents pay their vet bills with a credit card, and are then forced to carry around debt that comes with high interest rates. If they had a pet insurance plan, they could get their reimbursement payments and immediately pay off their credit card or put the money right back into their savings account.

Final Thoughts

There are many benefits of pet insurance. It saves you money and your savings account, offers peace of mind, allows you to focus on getting your fur baby the best care, and much, much more.

Keep your pet – and your wallet – healthy and get a quote for your fur babies today. 

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The information contained on this blog is intended for informational and educational purposes only and should not be construed as medical advice. It is not a substitute for professional veterinary care. Always consult with your veterinarian before making any changes to your pet's health care or treatment plan.

The authors of this blog are not veterinarians and do not claim to be experts in pet health. The information provided here is based on our own experiences and research, as well as information from reputable sources. However, we cannot guarantee the accuracy or completeness of this information.

We encourage you to do your own research and consult with your veterinarian before making any decisions about your pet's health.

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