Pet insurance works in a very similar way to human medical insurance in that it covers the cost of certain appointments and treatments should your pet become sick. There are a wide range of different insurance providers, each offering slightly different policies. The cover provided can range from accident-only policies to lifetime cover. It is important to choose the type of insurance cover that best reflects the needs of your pet.
As with human medical insurance, the cost of your policy may also vary depending on your pet’s current health and her medical history. If she has a diagnosis of a certain condition or has had treatment for a condition in the past, her cover may be significantly more expensive, or some insurer’s may even refuse to offer cover at all.
Advantages of pet insurance
For many owners for whom money is fairly tight, pet insurance is just another monthly bill that they would rather avoid. It can also seem like a very unnecessary expense if your pet is rarely ever unwell. Nevertheless, it can prove to be very valuable if your animal does suffer an injury or become sick and you struggle to afford the treatment that she needs to make her better. Estimates suggest that as many as 1 in 3 pets will require some degree of emergency veterinary care every year – much lower odds than you probably expect.
By far the biggest advantage of pet insurance is that it gives you peace of mind that you can afford the veterinary care that your pet may need if she becomes unexpectedly sick. However, there are also some other reasons why having pet insurance is invaluable. These include:
- You can usually pick your own vet. Unlike human medical insurance that typically requires you to use specific health providers, pet insurance policies normally enable you to choose your own vet – something which is important to many conscientious owners who wish to ensure that their animal gets the best quality of care possible in an environment that they might already be fairly familiar with.
- You can spread the cost. Budgeting for veterinary costs can be tricky if you don’t know what to expect, but when your insurance will cover the majority of the care that your pet will need, it helps to ease the stress. Most veterinary insurance policies can be paid monthly, quarterly, semi-annually or annually, making it possible to find an affordable way to afford the cost.
- You can focus on the health and wellbeing of your pet. Although money shouldn’t take precedence over your concern for the health and welfare of your pet, it can be difficult to think about anything else if you aren’t insured and the bills are stacking up. However, if you have sufficient cover with your insurance, you can relax knowing your expenses are taken care of, enabling you to direct your attention on to your sick pet.
- No need to choose between financial stability and the wellbeing of your pet. No owner likes to think about this gut-wrenching choice, but unfortunately, an estimated 10% of veterinary treatment cases end with the poorly pet being put to sleep due to their owner not having sufficient funds to pay for their treatment.
- Some types of insurance will help with costs such as boarding if you are hospitalized, legal costs if your pet causes damage to a 3rd party or their property, or even if your animal is lost or stolen.
As with all types of insurance, it is essential that you are completely open and honest with your provider. Failure to provide accurate information that is true to the best of your knowledge could see your claim invalidated and you will be held liable for any costs incurred. Similarly, it is important that when you take out a policy, you check it carefully to ensure that everything you need is covered.
If you would like to discover more about the advantages of pet insurance, our experienced veterinary team are here to help. Please contact our Fishers animal hospital today to speak to us.