Weighing the Pros and Cons of Pet Insurance

Insurance is a game of pros and cons, risks and rewards, and countless other variables operating behind the scenes. We may not know all the inner workings of the insurance industry, but we know it’s important to have nonetheless.

But while we never second-guess things like health insurance and car insurance for ourselves, many people view pet insurance with a bit of skepticism. If you’re a pet owner weighing the benefits of pet insurance for your beloved animal companions, this is the article for you.

We’ll walk you through the pros, the cons, and the final conclusion on pet insurance, no matter what your pet ownership situation may be.

Pros of Pet Insurance

Ready to learn why more Americans are locking in pet insurance plans every year? Here are the benefits you can expect from securing a policy now.

Accident and Injury Protection

Your dog or cat may get injured at any time, even if you’re a highly conscientious pet parent. In fact, household mishaps are far more common than injuries sustained in the yard or at the park, so being cautious with your activity isn’t enough to prevent all accidents.

It’s not about scare tactics – it’s about getting your pet the care they need ASAP if an accident does occur. With a pet insurance plan, you can take your pet in for emergency care and not have to think twice about the bill that’s coming your way.

Even small injuries can lead to bigger problems over time, so the best policy is to fix these issues quickly and properly with the best available care.

Overcome Illness and Disease

Sadly, even the healthiest pets will face some type of ailment in the course of their life, whether it’s a chronic disease or a one-off illness. No matter the scope of the issue, you never want to be limited by finances when fixing the problem at the root, so pet insurance will be vital.

Some of the most common pet illnesses include stomach bugs, dental problems, vision and hearing issues, and even some types of cancer. With pet insurance, you won’t have to fret over dollars and sense when searching for the best treatment.

Instead, you can simply bring your pet to the vet you trust, begin the treatment process, and have the costs taken care of by filing a claim online. 

Wellness and Preventive Care Options

Not every pet insurance plan will include preventive care, but it’s something to consider if you want the absolute best for your furry friend. Typically called a “wellness” add-on, these features are designed to fix problems before they ever happen, through routine checkups, vaccinations, and more.

There’s also a psychological benefit to visiting your vet more often and asking any questions along the way. You know you’re being a good owner from the start, which is important when navigating your journey as a pet parent for the first time.

Cons of Pet Insurance

With pet insurance, the pros far outweigh the cons, especially if you have multiple pets and can secure a nice discount on your policies. However, there are some downsides to acknowledge, so let’s look at those now before you reach a conclusion.

Another Monthly Bill

In the modern world, it seems like we get a bill for everything, from water and cable to all sorts of upcharges from service providers. When you tell people that a pet insurance is going to debit their account each month, it may be met with some hesitance, and that’s understandable.

However, we need to put that cost into context to see what it really means. Those monthly premiums (an average of $30, by the way), are what you pay to protect yourself from major payouts in the event of an emergency. 

For smart owners, it’s an no-brainer to take the pet insurance option upfront.

Older Animals Cost More to Cover

Another piece of bad news: older animals are going to be more costly to cover with a new pet insurance policy. These dogs and cats are simply more prone to injury or illness, and cost companies more in the long run.

Thankfully, you can avoid many of these extra long-term costs by securing a policy early on in your pet’s life – the earlier the better. 

Not All Providers Are Equal

Every pet insurance provider has unique attirbutes and pros and cons of their own, so prepare to put in the research to get the best plan available. It’s not just the pet insurance cost you need to look at, but also the deductible, the copays, the extra features, and any possible limitations.

Don’t just jump into a pet insurance policy because you like the branding. Do the research and shop smart. 

The Right Policy Makes the Difference

There are dozens of pet insurance polilcy providers to choose from, so start researching ASAP and protect your pet for life.