Having insurance was always one of those things that we had to have for what if situations. We insure our cars, homes, boats, jewelry and mostly ourselves, but do we believe pet insurance is worth it? I adore my pets and will spend whatever is necessary to insure their health and well-being.
For a couple extra dollars a month we can make certain that our pets are covered in the event of any unfortunate situations. The monthly cost’s aren’t excessive and the majority of these procedures cost thousands of dollars. Pet insurance would definitely lessen the burden and reassure a sense of security.
We want to take you through all the pros and great benefits of having your pet insured. You want to do your best to protect your animals from the unforeseen, without leaving you with that worrying doubt on is pet insurance worth buying.
How does pet insurance work
One of the main concerns about pet insurance is how it actually works. Pet insurance in a nutshell is a way to save on veterinarian cost when your pet gets sick or is injured. There are tons of companies that will insure your animals at a very low cost per month, and the good news is you don’t have to be in network! Generally, unlike health insurance for people, veterinarians could accept all insurance plans.
With pet insurance you submit a claim to your insurance company yourself. Most pet insurance plans only cover between 70 and 90%. These cost will have to be paid up front out-of-pocket however, by paying a premium you get most medical cost reimbursement. In comparison to health insurance for people, it doesn’t speak to preexisting conditions for your animal.
More employers are paying more attention to our needs when it comes to pet insurance. My animals are considered to be part of my family. Along with other workers, major companies are finally starting to catch on. With the ongoing growth of pet insurance, businesses are starting to offer pet insurance discounts as a part of their benefits packages.
What Does Pet Insurace Cover
All pet insurance providers provide coverage for dogs and cats. They cover accidental injuries and unexpected illnesses. Being that you can use your pet insurance at any vet, there’s no (in network providers), you can schedule a visit at any location at anytime. Very convenient don’t ya think?
Some pet plans cover hereditary illnesses (by breed) but some doesn’t. You will have to check with your provider to find out the specifics on each plan. Some things that are covered are accidents, cancer, prescription medication, x-rays, emergency care, surgery, blood tests, ultrasounds, and diagnostic treatments.
Choosing The Most Cost-Effective Plan
In this section I will list the top 3 insurance companies and why their the best.
1. Healthy Paws- Healthy Paws has a ton of different plans with no caps. They offer multiple deductible options, four percentages for payouts, and no cap on any of its claims. There’s no yearly limits. When you meet your deductible for the year, all covered procedures will be paid for in full.
Healthy Paws also has the best customer service. Their staff is extremely friendly and cooperative. Last but not least, they have the lowest premiums!
2. Pets Place- Pets place comes in second place as our runner-up. They provide a true emergency only plan that covers you in the event of an incident but it does not cover the exam fees or specialty treatments. Like healthy paws, Pets Place also ranks among st the least expensive insurance plans for pets.
They offer a wide array of customer service options for their customers. Live chat, phone, email, fax, and a 24/7 pet helpline which a vet is available at any time to assist. Lastly, Pets Place has customizable insurance plans tailored to your needs. They give you the option to choose the coverage you need so you’re paying for what your using.
3. Figo- Figo comes in at 3rd place. They offer 100% reimbursement for claims. If your looking for a complete claim coverage, Figo is a great contender. They also offer cheap insurance plans.
You can reach Figo via phone, text, live chat, Facebook messenger, fax, email, and even twitter! How about that? Figo also offered customizable plans to best meet your needs and budget.
What Affects Your Premiums For Pet Insurane
The cost of pet insurance is determined by what kind of dog you have, where you live, and how comprehensive you want your plan to be. The more you pay each month, the less you will have to pay out-of-pocket whereas the less you pay each month, the less you have to pay out-of-pocket per incident. In addition to the coverage level, I will list below some factors that plays a role in how insurers calculate the premiums for your pet.
Cats or Dogs- Typically it costs more to insure a dog than a cat. Male dogs have the highest premiums while female cats has the lowest.
Breed- Because bigger dogs tend to have a shorted life span, they cost more to insure as a result of developing more health issue with age.
Age- The smaller the pet, the lower the premium. Kittens and puppies are smaller and as a result generally have less health problems.
Location- Highly populated areas tend to have higher insurance premiums that rural areas.
Now Is Pet Insurance Worth Buying
Some might argue that the cost of pet healthcare would be cheaper than paying annually for pet insurance. On the other hand, I would like to shed light on a few things. People don’t save! And that’s a hard fact. The average person under 35 years of age has about $1500 in savings. 33-44 years of age, $5,000. 45-54 years of age, $6,500, 55-64 years old $8,500, and 65-74 years old , $10,000.
With that being said, it only takes a few emergencies to wipe out most of your savings. The cost of living is constantly increasing which means healthcare in general is also on the rise. Just like anyone, pets get sick too and just like ourselves, some things can’t be left to cure on it’s own. Pets are very active and they play hardcore.
All sorts of unexpected accidents can happen and we need to make sure that funds are available to care for our furry friends in the event they need it. If you care about the health of your pet, it won’t hurt to spend the extra money to ensure your baby will be okay and also give you a peace of mind!
Creator of MyFurBabyBasics