Should I get Pet Insurance? - SBInsure Agency | Union, MO Skip to main content

We all know the importance of health insurance when life brings unexpected illnesses or injuries, big or small. Without that coverage, we could end up getting stuck with unmanageable bills and stress at a time when we don’t even want to be thinking about those things. But have you thought about what you would do if something similar happened to a pet? Pet insurance can help.

Everyday vet bills alone can run pretty high, but if something bigger happens to your family’s pet, the costs can add up quickly, running thousands of dollars for care.

That’s where pet insurance comes in. For a relatively low cost (depending on the age and health of your pet), you can avoid those unmanageable bills and keep your furry family members healthy. Keep reading to find out more about how pet insurance works and whether you should consider getting it for your furry friends.

Can you cover unexpected pet expenses?

If you’re considering adding a furry family member to your household, you’re probably already adding their monthly food and other basic needs to your budget. But considering that 1 in 3 pets will need emergency veterinary treatment every year, you also need to think about medical care. 

The average cost for unexpected veterinary care is between $800-$1500, and that doesn’t include the cost of an extended pet hospital stay or long-term issues that your pet could experience following an illness or injury. Considering less than 40% of Americans have enough in savings to cover a $1,000 emergency, those numbers might be troubling if you didn’t consider them previously.   

Get your pets coverage and care early

The number one thing you can do to decrease the cost of pet insurance is to get coverage for your pets when they are young and healthy. Just like with human health insurance, pre-existing conditions will mean higher premiums, so get that new puppy or kitten covered as soon as possible! 

Another way to reduce overall medical costs for your pets is prevention. Keep your pets up to date on annual vet visits, tests, and immunizations to avoid future issues or spot problems before they become bigger. 

How Pet Insurance works

Even though pet insurance is effectively healthcare coverage, it’s often considerably simpler than human medical insurance. You’ll usually have a deductible and then a co-payment. When selecting a policy, you’ll generally only have to choose between three types of coverage: accidents only; accidents and illnesses; or accidents, illnesses, and other medical costs.

Payout limits on Pet Insurance policies

Nearly every policy has some form of payout limit. This could be for a single treatment, all treatments for a specific condition, or a total for all treatments during the year. The premium costs will vary depending upon the type and amount of the payout limit, so you’ll need to weigh the options.

Watch out for these Pet Insurance rules

You also have to watch out for a few rules that might surprise you. One rule that is common for a pet insurance policy is a waiting period. For example, if a policy has a two-week waiting period after you take out the policy, during those two weeks you can’t make any claims for illnesses or accidents. Another difference from human medical policies is that you usually have to pay the vet bills up front, and then make a claim to get the money back from the insurer.

Questions about Pet Insurance?

Pet Insurance is growing in popularity, but we know many people still have questions about the best option for them. Give us a call or fill out the form below; we would be happy to talk you through the solutions that are available to you. 

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