Most people treat their pets as part of the family. So, if you are willing to pay extra money for the health insurance premiums for your family members, why shouldn’t you invest in something similar for your pet? After all, they just like humans, deserve the best health care. You never know what could happen, and like in the case of hospital bills, vet bills can be just as or even more expensive. And that’s where pet’s medical insurance comes into play.
To be honest, if twenty years ago you would say to any pet owner that they have the option of insuring their pet, they would probably laugh and think that what you just said was a joke. But thankfully, the times have changed, and pet insurance is starting to become a common thing.
However, some people are still sceptical as to whether it’s really worth it or if it’s just smoke and mirrors. So, here are some of the reasons as to why you should consider purchasing medical insurance for your pet.
What Is Pet Insurance?
Before we start talking about why your pet should have medical insurance, we need to start with the basics – what pet insurance actually is? To put it simply, if your pet gets sick or becomes injured during an accident, the insurance company will cover the veterinary costs. What you need to keep in mind though, is that in contrast to human health insurance, you firstly need to pay for the treatment from your own pocket, and then the insurance company will reimburse the costs to you.
These days pet insurance mostly covers cats, dogs and horses. However, it doesn’t mean that exotic animals such as lizards or snakes cannot be insured. They can, and more companies are deciding to offer coverage for those types of animals as well.
It Reduces Some Of The Costs
Vet bills can be higher than hospital bills. For example, if your pet will get cancer, the radiation therapy can cost you even $10.000. Surgery for tumour removal can cost anywhere between $3.000 and $6.000. Unfortunately, not every pet owner can afford to pay for the expenses, and they are forced to put their pet down.
Paying a small sum of money each month for your pet’s health insurance, just like you would for medicare premiums 2020, will not make such a big dent in your pocket as having to pay for medical expenses. Even though in the beginning you need to pay for the medical treatment with your own money, it is given back to you after you submit a claim with the bill as proof. It means that you don’t lose anything permanently, just temporarily. If you don’t have pet insurance, the money that you devote to your pet’s medical treatment will be gone.
A good thing about pet insurance is that there are various options that will suit almost every budget. Just like with human medical insurance, you have multiple plans available. The basic ones usually cover the expenses connected with accidents or illnesses. In addition, there are premium plans available that cover things such as vaccinations, dental care, prescription medicines, and tests such as faecal examination or blood work.
It Allows You To Make The Best Choices
Every owner wants the best for their pet. However, not everyone can afford that, as sometimes the best option is also the most expensive one. When you have pet medical insurance, and your dog, cat or any other animal needs treatment, you can choose the best medical option, and not the cheapest one as the budget does not restrict you.
You Don’t Have To Be ‘In-Network’
You may ask – what does it even mean? Well, what it means is if you decide to purchase pet insurance, you don’t have to worry about having to change the vet, or having to choose from plans that your vet accepts. Unlike with human health insurance, if your pet has medical insurance, you can visit any certified vet in the USA as well as in Canada.
The reason behind that is the difference in the claims process between pet and human health insurance. When you go to a doctor, they are the ones submitting the claim – that’s why they need to have a relationship with your insurance company. However, when it comes to pets and vets, you are the one submitting the claim – the vets are not part of the process.
Your Pet Might Be Healthier
As it was already mentioned, there are pet insurance plans available that cover preventive care. What it means for you as a pet owner is that you don’t have to worry about having to pay for check-ups, which will probably make you more willing to pay the vet regular visits with your furry friend.
Millennials are treating their pets like children – there’s no doubt about that. Studies have shown that 95% of pet owners consider their animal as a part of the family. So why shouldn’t your pet be treated like every other family member, and have the best health care?
The times when pet insurance was considered as a joke have passed, and the number of pet owners purchasing it is increasing with each passing year. The main reason for that is probably the fact that it gives the pet owners a peace of mind, as they don’t need to worry about not being able to provide their four-leg companion with the best treatment or having to devote all of their saving to paying vet bills.
So if you have a pet, you should think about purchasing the pet medical insurance. You will definitely not regret it.