Pet owners often wonder what they will do if they ever have a real veterinary emergency. The answer, of course, is insurance. But most pet owners don’t know that there is insurance available for pets, or even that it will help cover some of these health care expenses for their pet.
People often have the wrong idea about insurance for their pets. We often hear people say that they would rather open a savings account to pay for their pet’s veterinary expenses. However, these people may not really understand what how insurance works.
Insurance, even for pets, is to help people pay for unexpected, unplanned, or large expenses that you are not prepared for, even with a small amount set aside in a savings account.
There are several reasons why you want to consider buying pet insurance for the peace of mind of knowing that your pet’s health needs will always be covered.
Why Buy Insurance?
Insurance can help you pay for large or unexpected health issues that your pet may experience. These are expenses you might have trouble paying for out of your regular budget. Another reason to consider insurance is that because it is a competitive industry there are many options available, which means that the coverage and the price of policies has improved over the years. When you love your pet a lot, you may be willing to pay $5,000 to $10,000 to help him recover. But you may also worry about having that kind of money available. If this is the case, then you would benefit from getting an insurance policy.
Savings is Good, but Insurance is Better
Sure, having a nice nest egg to help in times of trouble can come in handy. But a savings account shouldn’t take the place of insurance for your pet. If your pet ever becomes seriously ill, he might require expensive veterinary treatment that exceeds the amount you have saved. This is when an insurance policy can serve your needs, and this is the sort of scenario that happens all the time.
The Exclusions
Yes, there are exclusions. Some insurance policies exclude things like hereditary conditions or chronic issues. However, there are newer policies that often cover many of these issues. It may be time to look into one of the newer insurance policies for your pet.
Bottom Line
If you have had a pet who has experienced an emergency, then you know how expensive this type of situation can be. You know that insurance can be a lifesaver when it comes to your favourite pet.
On the other hand, if your pet has always been healthy and you’ve never faced a large veterinary bill, then you might think you don’t need insurance. Unfortunately, we can’t ever foretell the future and you might come to regret the decision you have made. It is always best to be safe rather than sorry, and at the monthly price of most modern insurance policies, you can well afford coverage.
