Do you have some pets? I know I do! We have a dog, 3 cats, and 2 little birds. Do you know how important getting pet insurance can be?
Did you know that you can actually buy pet insurance for your loved ones? I had never heard of this until just recently, and it’s honestly something to at least think about.
Let’s figure out what this really is, what it covers, how much it costs, and whether it’s a good idea to get insurance for our pets.
What Is Pet Insurance?
Us humans have insurance to help with the costs of unexpected medical needs. For insurance, if you have a heart attack and need help, the only way that you can likely deal with the piles of medical bills to follow is by having health insurance.
It works the same way with pets. Let’s say that your dog is diagnosed with cancer. The veterinary bills are going to be outrageous, running into the thousands. If you have insurance for your puppy, that will cover the majority of those bills.
In other words, it amounts to paying a small amount for premiums every month/year, so that you don’t have to pay a lot when it is needed (big vet bills).
What Does Pet Insurance Cover?
Obviously, this will not pay your cat food bill, but what does it cover?
Of course every plan is going to be different, and each will have certain medical conditions that it covers or doesn’t cover.
In general though, it will cover all major medical conditions including cancer, heart diseases, bite wounds, arthritis, infections, kidney diseases, deworming, heartworm treatment and prevention, liver diseases, and more. Some even cover annual wellness checks with your veterinarian.
Just remember that every policy is different, so you need to read the policy to actually figure out what it does or doesn’t cover!
How Much Does Pet Insurance Cost?
Short answer: it varies depending on which company you use, and what it does and doesn’t cover.
On average though, it will cost you around $380 a year to cover your cat/dog/animal.
In general, the more medical conditions that it covers, the more that the policy will cost you. If you want it to be inexpensive or cheap pet insurance, look for a policy that doesn’t cover so many conditions!
Is It A Good Idea To Get Pet Insurance?
In my honest opinion, yes it is!
Let’s think about it. If your cat is diagnosed with cancer, it’s very easy for the vet bill to rise to well over $10,000. Let’s say that the cat insurance plan you purchase costs you $400 a year, and let’s say that we expect her to live for 12 years.
In this scenario, the policy would have cost you a total of under $5,000 over the 12 year period. If it is only used once, to cover the cancer medical bills, you have saved over $5,000!
In actuality, this won’t be the only time that you use the policy, so you will actually save a lot more.
Additionally, who can afford over $10,000 at one time for cat cancer treatment? Not many of us! But spreading the policy cost out over small payments of $400 a year makes it affordable to just about anyone.
This is why finding the best policy for your animals is so important to me.