Pet insurance is nothing but a way to safeguard yourself from unexpected expenses caused by your pet. The pets that most people own are cats and dogs. The illnesses to these pets are so many and the cost that is incurred to treat their illness is also very high. To meet the expenses on time and in a hassle-free way, it is recommended to go with pet insurance. So, here we are discussing is pet insurance worth having?
It sometimes feels that the premium that you are paying is a complete waste of money as your pet does not fall ill or does not meet with an accident. In reality, the case is the reverse. In most of the cases, the worming and accidental costs are so much that it becomes unbearable for anyone. Go for a policy or plan that gives maximum benefits and gives you the best deal.
Is there any alternative to pet insurance? We will see later in this article.
Is pet insurance worth having?
There is an approximate amount that needs to be kept always for your pet to meet any critical conditions. This amount may vary and if it is too much, it becomes a sense of worry to the owner. To overcome such situations, pet insurance comes in.
If you do not will to go with the pet insurance you need to be pretty sure about its alternatives. Like, do you have that much amount with you to spend at the time of illness or accidents? The premium also for the pet insurance is quite high and so spending this amount becomes a tedious task. The older is your pet; more is the premium as old pets are more prone to illness and diseases.
Self-insurance can be an alternative to pet insurance but that requires a lot of knowledge about the pets and discipline to take care of them. This can just be an alternative. Therefore we would say that pet insurance is worth having.
Few Questions to decide whether pet insurance is worth having?
Consider answering a few questions before going for pet insurance or self-insurance.
#1: What kind of pet you own?
Pets are of so many varieties. Every person has a different desire. The most common ones are cats and dogs but some like to keep frogs, rabbits, snakes, and more. The insurance companies do not insure venomous animals.
Other pets like a parrot, lizards but there are very few or maybe no companies that offer insurance.
Some animals have a shorter life span and hence do they need to be insured or not, it is a question to ask from yourself.
#2: What problems arise by keeping pets?
The most common cause of concern for pet owners is their diseases which are usually very troublesome. Some develop worms too often and it keeps your pet at trouble most of the time.
Some of the most common problems can be:
- Congenital diseases
- Diseases that come from their parents meaning hereditary conditions
- Cats and dogs are mostly stolen
Some breeds and species are more prone to illness and certain diseases are quite common with them.
#3: What pet insurance actually covers?
Another question that will help you decide whether pet insurance is worth having is this one. Various plans come for pet insurance and it is very important to choose the right one for your pet. Depending upon the type of breed or species that you own for a pet, the insurance shall be taken.
Pet insurance covers some of the following things. Let us have a look at them.
- Illness is something very important. And it can cause you to spend a lot because the root of the illness is usually not diagnosed earlier. Make sure the illnesses are covered. Most of the companies cover it.
- Accidental injury is something very common among pets. This can cause any kind of harm to your pet and hence it needs to come under pet insurance.
- Most animals especially the dogs are prone to tick attacks and paralysis due to it. This is hard to bear for your pet and yourself too. This tick attack is also in pet insurance.
- Behavioral issues are again a cause of concern. Some develop behavioral issues by birth and this is hereditary. This problem does not come under a pet insurance plan. Check for the terms and conditions before moving ahead with the pet insurance plan.
- Certain other problems like emergency hospitalization and treatment while traveling abroad are also on the list. These need to be probed further.
#4: What a veterinarian says?
This question will ultimately give you the distinction of whether pet insurance is worth having or not.
Keeping a pet can be an expensive deal. These include some unnecessary costs for their maintenance as well. A thorough analysis is required before going further with any kind of pet insurance plan.
They suggest that there are certain things which need to be there in the pet insurance policy and they are:
- General vet cost which includes regular health check-ups, accidents and more
- Many pets develop congenital diseases that come to knowledge only after a certain age. The vet suggests looking for certain plans that cover congenital diseases.
- Teething is a big concern among pets. It is good to go with a plan that covers dental care of the pets.
- Breeding is risky and is also a long term process in many pets. This is a costly affair for most of the owners. Check if the breeding cost comes under pet insurance or not.
There are many plans available from different companies for pet insurance, like an annual plan, lifetime plan, accidental plan, and more. Go for a plan that suits your pocket with maximum benefits.
Look inside the plan, that is, switching and revising of the pet insurance is there or not. The pre-existing conditions like the congenital conditions are taken up by them or not as it becomes one of the most costly things for the pet owners.
The best alternative to pet insurance is self-insurance and this includes keeping aside a set amount for your pet. Also, self-insurance in a disciplined way can save you a lot.
Opting for pet insurance is the need of the hour due to their unknown expenses but alternatives like self-insurance can also work for many pet owners. As per your conditions, go ahead with your choice.