Should you get pet insurance?

  

Every year, one third of pets make a trip to their veterinarian due to illness or accidents. It’s inevitable that your pet will need unexpected veterinary care at some point in their life. Emergencies can cost into the thousands of dollars depending on the problem. Whether pets decide to sample all the chocolate at Halloween, or land a jump badly, tearing a ligament, you can never predict an injury or illness. 

 

Would pet insurance help?

Diagnostic, medical and surgical procedures can be costly, but pet insurance can help cover these unforeseen costs. A few things to keep in mind when choosing pet insurance:

• Policies don’t cover pre-existing conditions. This is defined as current or recurring symptoms or illnesses experienced by pets before coverage starts.
• Only some policies offer additional coverage for vaccinations, dental cleanings and other routine care for an extra fee.
• Some policies have bilateral exclusions, meaning if your pet needed surgery on one knee, the other knee would be excluded for the same condition. 
• Some policies have extended waiting periods for certain conditions (e.g., hip dysplasia).

Monthly premiums vary depending on species (cat/dog), breed, age of your pet, area you live in, the coverage you choose and the deductible amount (the amount you pay when your pet is hurt or sick). Premiums can vary from $30-90/month but can be higher depending on the coverage you choose. If you choose a package that covers every minor medical expense, your monthly premium will be high. 

Typically, the most cost-effective route for pet insurance is purchasing a coverage plan that will pay for costs that are higher than you would be willing or able to pay if your pet became ill or was in an accident. Some breeds are prone to certain medical conditions or diseases and premiums are set accordingly. Some insurance companies won’t ensure certain breeds due to the high risk they carry. Just like car insurance, some policies offer multi-pet discounts for multiple pets enrolled from the same household. 

It’s a good idea to insure your pet when they are young and healthy, avoiding the risk of them developing conditions that would then be considered pre-existing and therefore excluded from coverage. 

What are the advantages of pet insurance?

• Provides peace of mind. You know you can provide top of the line care for your pet in case of an accident or illness.
• Better financial planning. With a fixed monthly premium, you know what to expect. 
• Easier decision-making. You can make decisions based on your pet’s medical needs rather than if you can afford it.

Talk to your veterinarian about which plan may be best for your pet!

For more information, read our helpful FAQ. >>