Is Pet Insurance Worth the Cost?

Most people don’t think twice about buying home insurance, life insurance or health insurance. After all, these small premiums paid monthly can help prevent against huge expenses in the future if an emergency occurs. Although pet insurance may not be as common as health insurance for humans, there are plenty of reasons why it should be. Read on to learn about why pet insurance is worth the cost, what you can expect to pay and how to protect your pet.

pet insurance
Image by Ed Yourdon

Reasons to Consider Pet Insurance

There are just as many reasons to consider pet insurance as there are to consider health insurance. If your pets are like your children, or if they are a true part of the family, you will want to take care of them no matter what the cost. Unfortunately, medical emergencies for pets can add up thousands of dollars in veterinary bills. In order to handle these unforeseen medical expenses, a pet insurance policy can help. If you love your pets, want the best for them and are willing to spend a little extra each month to give them the best possible chance for survival, then pet insurance is a great idea.

How Pet Insurance Works

Essentially, pet insurance works just like any other health insurance policy for a human. You will need to call up an insurance provider and give them detailed information about your pet, including weight and age. In some cases, you might have to take your pet to a vet for a physical as well. Then, you will be given options about prices and coverage. Policy holders will pay monthly fees to their pet insurance provider and they will be reimbursed for bills if medical emergencies arise that fall under the insurance policy information.

Who Should Get Pet Insurance

Anyone with a pet should consider investing in pet insurance, especially if you feel like your pet is part of the family. If your budget is tight and it seems like an unnecessary expense, simply remember that a large surgery or treatment for your pet would be even more expensive, and pet insurance could save you money in the long run. According to the American Pet Products Manufacturers Association, more than two million Americans currently have pet insurance of some kind, but that number is forecast to grow.

What You Can Expect to Pay

The costs for pets will differ significantly depending on their age, weight and any preexisting conditions. However, it is common for cats to cost roughly $40 a month to insure, while dogs can run upwards of $45. In the long run, it may be cheaper to insure your pets from birth, as any preexisting conditions may be excluded and could complicate the procedure.

Having pet insurance can be a great way to offset major costs for pet treatments, should an emergency situation occur. However, the exclusion of preexisting conditions can make the issue a sticky one. Regardless, the number of Americans willing to purchase pet insurance is on the rise. President of APPMA, Bob Vetere, says that this is due to a, “Reflection of more services now being available to pet owners and more people being willing to take advantage of those services.”

About the Author: Nadina Linsey writes for where you can learn about SSI benefits and dental

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