Advantages
1. If something happens to your pet
where expensive veterinary charges will be incurred, you may not have the money
available for treatment. Pet insurance may cover emergency care, diagnostic
tests, and other expenses that can quickly add up. It would be a horrible
situation if your dog needed treatment that you could not afford to provide.
2. There are a number of policies from
which to choose, and you may be able to obtain a discount if you are insuring
more than one pet. With an insurance policy, you have peace of mind knowing
that if anything happens, chances are your pet will be covered, at least to a
large percentage.
3. Many pet illnesses are now treatable
that once were not, but the proper treatment can run up the bills. With pet
insurance, it will be more affordable to provide treatment for your companion
that can enhance the animal’s life.
Disadvantages
Unfortunately, there is always a down
side. Listed below are disadvantages to having pet insurance.
1. Not all medical conditions are
covered. Your pet may develop an ailment that your insurance policy will not
provide for, leaving you to still pay out-of-pocket costs.
2. Pre-existing conditions are often not
covered, which can be a problem if you need assistance in paying veterinary
bills for a pet with an ongoing medical problem. For these types of issues, you
may still be on your own in paying the veterinary bills.
3. Even with coverage, you will have to
deal with deductibles and copays, just as with health insurance for people.
This means you may not receive as high of a monetary benefit from your policy
as you had originally believed.
4. Money that you put into pet insurance
could be adding up in a savings account. You may be paying for insurance that
you will never use. Of course, if you do need the insurance, the money will be
well spent, but you have no way of knowing this ahead of time.
How to choose insurance
If you do decide to invest in pet
insurance, you will need to check out the policies that are currently available.
There are a number of companies offering insurance policies on cats and dogs.
Research what each policy covers, how costly deductibles and copays are, and if
discounts are available when insuring multiple pets. An affordable plan can be
a blessing if your pet develops a problem that you would not be able to pay for
without insurance coverage.
The ultimate decision regarding the
purchase of pet insurance is up to you. A great deal depends on whether you
have savings and if your pet is a healthy pup or an older dog with possible
health concerns.