Is Pet Insurance Worth It? The Big Question

Pet insurance can help cover your veterinary bills

If your pet was hospitalized with a critical injury tomorrow, could you afford the bill?

Many of us consider our pets to be family, and of course – they are! With advancements in veterinary medicine over the past decade, we now have access to advanced medical care for our pets – including cancer treatment, advanced surgical procedures, and critical care that rivals human level medicine.

As wonderful as it is to be able to provide this life saving care for our fur friends, it certainly does not come cheap. Canine Journal estimates that the annual cost of pet care is topping $1800 per pet. So it’s no wonder that some families struggle financially with providing the kind of veterinary care they want for their pet.

Enter: pet insurance. Designed to bridge the gap between medical care and cost, pet insurance can offset the financial burden of unexpected injury or illness to our pets. But is the monthly cost worth it? The Pet Experts at Wheaton Animal Hospital delve into this question, so you can weigh the costs and benefits for yourself.

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Prudent Planning: A Primer on Pet Insurance

You may have found yourself thinking as you whip out your credit card to pay for Fido or Fluffy’s vet visit, “Boy, they should have insurance for this!”  Well, it turns out, they do.  There are several companies out there who are willing to insure your pet for everything from routine vaccinations to cancer treatment.  Here are a few things to think about if you are considering pet insurance:

  • Most pet insurances require you to pay the veterinarian at the time of service out of pocket and then reimburse you directly based on your policy.  Some plans will reimburse you based on the actual bill and others based on a predetermined amount depending on the services provided.  Find out what you are getting before you buy.
  • Pre-existing conditions and breed specific diseases are often not covered, although this may vary from policy to policy.
  • Weigh the costs.  You can buy coverage that will pay for routine costs or one that just covers major medical expenses.  Decide what you are better off paying out of pocket for and where insurance coverage would be helpful.
  • Shop around.  You may find a better deal for similar coverage with another carrier.   A few to check out include Purina CareTrupanion Pet InsuranceVPI Pet InsurancePet’s Best InsurancePetCare Pet InsuranceASPCA Pet Health Insurance, and PetFirst Healthcare.

For some situations, pet insurance makes a lot of sense.  Many times it helps owners afford care that they otherwise might have to forgo.  Do your research and find out if pet insurance might be a good investment for your furry family. If you have any questions, feel free to contact us.