By Heather Green
No one has to tell you that there are tons of products being marketed for pets that are completely unnecessary and wasteful of your time, money, and effort. Seriously, who needs a designer Snuggie for dogs? Sometimes it’s fun to buy novelty items for pets, but the upshot of it is that we know when we’re buying stuff we don’t need for our furry friends. If only it were so easy to decide whether or not to buy pet insurance – but with the following discussion of benefits and caveats, you should be able to figure out why insurance is worth it (or not) for you and your pet.
The Benefits of Pet Insurance
- If you have an older pet, the good news is that insurance can help you save on increasing health care costs, compensating for the more frequent and extensive health issues that often afflict older pets. With new technological developments, treatment prices are going up steadily. For example, when pets are found to have cancer, chemotherapy and radiation treatments are now available and can cost you thousands of dollars if your pet is uninsured.
- Once you’ve met your deductible, your insurance company will take care of the rest. Often, these deductibles are priced from $50 to $200, but more at-risk pets may require higher ones.
- Monthly payments are pretty low, ranging from about $17 to $50. Older pets and those who have been consistently ill are likely to require payments at the higher end of the spectrum, but if you ever need to pay bills for chemotherapy, broken bones, ingestion of foreign objects, vehicular accidents, or other extreme cases, you’ll be glad you chose to pay each month.
- Most insurance plans cover a wide variety of potential mishaps and illnesses. For example, car accidents, dog attacks, accidental poison or foreign object ingestion, X-rays, surgeries, cancer, diabetes, heartworm issues, allergies, arthritis, other illnesses, and even preventative care are all covered. You won’t have to pay for your annual checkups, dental cleaning, or vaccinations when you purchase pet insurance.
- You can choose any vet you’d like to use.
- Depending on which insurance company you select, you may be able to enjoy benefits like discounts on food, boarding, and training in addition to vet bills.
Factors to Give You Pause
- Because monthly insurance payments depend on your pet’s age, breed, and location, the insurance you need for older pets is often much more expensive. However, if you buy insurance while your pet is still young, you’ll have a better chance of having a more reasonable monthly payment once your pet begins to age.
- Hereditary problems, genetic conditions, and predisposition to issues like hip dysplasia often are not covered or require an additional monthly charge.
- Declawing is not covered.
- If your annual vet bills total less than the amount you spend on insurance, you’re wasting money.
Making Your Decision
Even if you end up paying more for insurance than you would for vet bills, pet insurance might be the right choice for you if you want the peace of mind that comes with it. You won’t have to worry about any surprise charges, expenses, or decisions about treatment based on price ranges. It’s impossible to tell whether or not your pet will ever need insurance, but some animals are more predisposed to illness or other health conditions than others. For these types of pets in particular, insurance tends to be a popular option, but premiums are higher in these situations. In the end, it’s up to you as you decide how much of a strain your budget can take, whether or not you can afford another monthly bill, and how important your pet’s health is.
Heather Green is former veterinarian tech, pet lover and the resident blogger for OnlineNursingDegrees.org, a free informational website offering tips and advice on online nursing colleges