If you’re a pet owner, you’ve probably been shocked by a vet bill before. But like most pet owners, you suck it up and wince as you hand over your credit card because you love your pet so much.
Most of us treat our pets like children, but unlike when you take your child to the doctor, you’ll probably end up paying out of pocket for most vet services.
If you’ve ever had an insanely high vet bill, you’ve probably thought about pet insurance. But is pet insurance worth it? And will it cover what you need to cover?
What is Pet Insurance?
Much like health insurance for humans, pet insurance is a policy that will help reimburse you for certain medical expenses if your pet has to go to the vet unexpectedly. Having pet insurance is a lifesaver if you worry about not being able to afford a vet bill or emergency surgery.
Having pet insurance can save you from choosing between an expensive out-of-pocket surgery and putting your best friend down.
However, like some human insurance policies, pre-existing conditions, or other illnesses might not be covered by pet insurance, so you should do your research before signing up for a plan.
What Does Pet Insurance Cover?
Pet insurance is beneficial in covering unexpected accidental injuries or illnesses that you and your pet may run into. Like with yourself or your family, it’s hard to predict when these kinds of things are going to happen, and pet insurance can help make a bad situation a little less stressful.
Antibiotics are often prescribed when your pet runs into an unforeseen illness, like conjunctivitis, so a pet insurance plan would most likely cover those antibiotics or reimburse you for them.
However, there are some things that most pet insurances don’t cover. These are important to keep in mind when you’re shopping for different pet insurance plans. You’ll want to keep these in mind to weigh the pros and cons of getting a pet insurance plan.
Some things that often aren’t covered are:
- Pre-existing conditions
- Yearly check-ups
- Dental disease
- Hip dysplasia
That means if your pet has been treated for a disease before purchasing pet insurance and that condition is most likely going to be lifelong, buying a pet insurance plan may not do much for you. Even the best pet insurance plans don’t cover costs associated with illnesses or diseases that can’t be cured.
How Much Does Pet Insurance Cost?
Many pet insurance plans cost around 30 to 40 dollars a month, and monthly premiums can cost up to a couple of hundred dollars a year. However, compared to a $1,000 vet bill, this might be worth it to spread the cost of a potential major medical procedure.
Unlike human insurance plans, most pet insurance plans require you to pay out of pocket first and then be reimbursed for any costs covered by your pet’s insurance plan. You’ll have to file a claim to get compensated if you incur any surprise vet bills.
Is Pet Insurance Worth It?
It’s essential to think about the reasons you’re looking into pet insurance to decide if it’s worthwhile.
If your main reason for buying a pet insurance plan is to take the stress out of super-high, unexpected vet bills or surgeries, and your pet is otherwise healthy, pet insurance will most likely help you out.
However, if you’re facing frequent vet bills associated with a disease or pre-existing condition that your pet has, pet insurance may not help you much and just end up adding to the overall cost of your pet each month.
It’s important to do your research and read the fine print on any pet insurance policy that you might be considering. But hopefully, this guide will help lead you in the right direction!
Also Read: How to Pick Pet Insurance and Wellness Plans