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5 Benefits of Pet Insurance
Even if you are an animal lover, pet insurance may not have crossed your mind. After all, your pets are part of your family and you will do everything you can to protect them from negative situations. Whether it’s gasping for air after catching the flu, breaking a leg in a tragic backyard accident, or being hospitalized for eating leaded cat food, the last thing on most pet owners’ minds is whether their pet is suffering from such unfortunate events are insured.
But as the old saying goes, prevention is better than cure. While you can’t predict when the accident will occur and how much it will cost to treat your beloved pet (or even which company will provide the treatment), having insurance in advance can save you from bankruptcy.
What is pet insurance?
Pet liability insurance is insurance that covers your pet’s medical care. If your dog or cat becomes sick or injured, pet insurance will help cover the costs. You can divide pet insurance into two categories: health insurance and accident and illness insurance. The health insurance company covers the costs of preventative care and annual check-ups, such as vaccinations, castration and teeth cleaning. Health insurance also covers the costs of broken bones or tooth loss due to illness or injury. Accident and illness coverage helps cover the cost of treating injuries or illnesses that cannot be prevented. These include things like food poisoning, bladder stones, and cancer.
Why do you need pet insurance?
There are many reasons why pet owners should purchase pet insurance. If your pet becomes injured or sick, treatment can cost thousands of dollars. If you have health insurance, you will get most of your money back. But if you have pet insurance, you’ll get all that money back while paying a much lower monthly premium. Pet insurance can also give you peace of mind by covering sudden accidents, such as: E.g. if your dog is hit by a car while chasing a squirrel or your cat is injured by a window frame. These types of accidents are unavoidable, but can still result in many expensive medical bills.
Another important reason why you need pet insurance is the fact that most veterinarians do not accept payment plans. This means you will have to pay the entire amount at once, which can be very difficult if your pet is seriously ill or injured.
The benefits of pet insurance?
As we’ve seen, good pet insurance will cover all treatment (including surgery) if your pet becomes ill or injured, saving you thousands of pounds. The best pet insurance policies also cover routine care like annual checkups, vaccinations, neutering, and dental cleanings. These ensure your pet stays healthy and has a longer lifespan, saving you even more in the long run. Unlike human health insurance, pet insurance often covers all types of animals, including exotic animals like snakes, lizards, and birds. Some pet insurers even allow you to add your goldfish to your policy! Here are some of the key benefits of pet insurance:
- Your pet’s medical bills are covered if they become ill or injured
- You can receive preventive measures such as vaccinations, castration, and teeth cleaning at a discount or free of charge
- You don’t have to worry about paying for expensive surgeries or treatments.
What should you look for when choosing pet insurance?
If you decide to purchase pet insurance, you should first research different pet insurance companies. The two most important factors to consider are price and range. You can get a rough idea of how much pet insurance will cost you per month by looking at the average pet insurance prices for your area. Once you’ve narrowed down your list of pet insurance companies by price, you’ll want to make sure they have good coverage. You’ll need to find out exactly what each policy covers, what it doesn’t, and how much you’ll have to pay out of pocket. You also need to ensure that the company offers a good customer experience. What kind of people work there? What is their policy? How easy is it to file a claim?
Mistakes you shouldn’t make when taking out pet insurance
Even if you’ve researched the best pet insurance companies, chosen the best policy, and found a low premium, all could be lost if you make these common mistakes.
You won’t get pet insurance to cover your pet’s medical bills; is of course the main reason for purchasing pet insurance, but many people forget to actually insure themselves. If you do not purchase pet insurance, you will be responsible for 100% of your pet’s medical costs out of your own pocket. This can be very difficult if your pet becomes seriously ill or injured.
You don’t get pet insurance fast enough; You should get pet insurance as soon as possible. The younger your pet is when you purchase pet insurance, the cheaper it will be. Some insurers will even give you a lower rate if you take out a long-term contract.
You forget to update your policy; Make sure you update your policy every year. This means updating your pet’s age, weight and health status. You should also update your policy when you add or remove an animal from your home.
They don’t read the fine print; the fine print cannot be read in 5 seconds while standing in line at the grocery store. You should really sit down and read the entire policy so you know exactly what you are getting.
They have no animal health history; Many pet insurance companies will ask you to fill out a pet health history when you sign up for coverage. This may seem like a waste of time, but it is actually very important. Your pet’s health history can affect his rates, so it’s important to be honest and accurate.