What Is Pet Insurance?

While us humans understand the importance of various insurances (life, auto, home, health, etc.), many of us overlook insurance for our pets. Since we all treat our pets as members of the family, doesn’t it make sense to get them some health insurance too? Many of us are not financially capable of dropping thousands of dollars on emergency surgery or other treatments and some may even have trouble budgeting routine vaccines or medicines. So here’s some of the basic information on pet insurance you should know and how it can help your pet!

  • Depending on what kind of plan you purchase from your insurer, you can get coverage for emergencies and even routine check ups.
  • Pets of any age can be insured.  It’s best to insure your pet as soon as you adopt them to get the lowest premiums.  Plus, most insurers will not cover pre-existing conditions, so insuring your pet as early in their life as possible is optimal.
  • Pets of any breed can be insured.  Sure, we know that certain breeds are more prone to certain ailments than others (for example, Cocker Spaniels are more prone to ear infections than other breeds while Pugs are more likely to have eye problems), but not to worry-your pet can still get insurance!
  • Pet insurance works on a reimbursement basis.  This means that you can go to your favorite veterinarian and are not restricted to a specific animal hospital (like how human medical insurance works).  Though you have to pay the initial bill at the veterinarian’s, you can submit your receipt and make a claim as soon as you and your pet get home to receive reimbursement.
  • Pet insurance will allow you to choose the best treatment option.  Many pet owners have had to pass on the best medicine or treatment plan for their pet because it was out of their price range.  Pet insurance allows you to say “yes” when the veterinarian asks to take x-rays and run blood-work (without breaking the bank).
  • Purchasing pet insurance can give you the peace of mind of never needing to dip into your family’s emergency fund in order to pay the veterinary bill.  (And if you do need to dip into the emergency fund, you know that you’ll be reimbursed by your insurer and can return the money to your account!)

Have you considered getting pet insurance for your four-legged friend?  Let us know in the comments below!