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Is Pet Insurance Beneficial?

Posted January 24th, 2012 by admin

You love your pet. They provide you with companionship, humor and, in many cases, security and protection. Your pet is a member of the family; you care about them and want them to be happy and healthy. So, just as you have provided health insurance for yourself and your children, you may want insurance for your pet(s). Believe it or not, veterinary pet insurance is a lot less expensive than you might think. In fact, many satisfactory plans are around $10 a month or $100 a year. In addition, you may find that your employer offers pet vet insurance at a nominal cost.

Benefits of Having Pet Insurance

If you are not convinced that pet insurance is worthwhile, consider this: An emergency procedure like treating parvo without insurance can cost $457; however, with insurance for the same quality of treatment, after reimbursement will cost $237. While the savings alone is enough reason for many pet owners, there are several other benefits to having pet insurance. These benefits of pet insurance are:

  • Proper pet insurance coverage protects one from having to make life and death decisions, based primarily on cost. Consequently, one can have peace of mind, security and less stress when it comes to their pet receiving veterinary attention.
  • Financially, pet insurance is a small price to pay when one looks at what long term or emergency vet pet services can cost.
  • Some policies will cover everything from preventative treatments and checkups to covering the cost of boarding or kenneling related to illness or treatment. Some policies even provide for kenneling while the family is traveling or will refund the cancellation fee in the even that you have to cancel your trip due to your pet’s illness or medical emergency.
  • The large majority of vets accept pet insurance, providing you bring along the client card or policy documentation information.

What to Look for When Selecting a Pet Insurance Provider

If you are now thinking that having pet insurance would be a wise thing to do, you may be wondering what to look for in a pet insurance provider. After all, you want a policy that meets your pet’s needs, your needs and your budget. So, to help you select a pet insurance provider, here are a few things to keep in mind.

  • The age of your pet-Some policies cease coverage past a specific age.
  • Percentage coverage-Be sure to compare the amounts covered for specific aspects of your pet’s life. You will also want to be sure that the policy will cover enough of your pet’s needs to be useful. Check the per-incident limit and lifetime limits allowed.
  • Waiting periods—Is there a waiting period before you can file your first claim?
  • Accident coverage versus an accident and combined illness coverage- This varies from provider to provider be sure you understand what is covered before signing the policy rather than learning later on.
  • Is there a discount for insuring more than one pet and if so, what is it?
  • Does the plan limit your choices for what type of treatment is covered? You and your vet should be able to choose the best plan of action for your pet…not the insurance policy.
  • Find out if they allow you to choose any vet you wish or do you have to use their particular network of vets. You will likely want to be able to use your current vet versus having to transition to a new one.
  • Call their customer service center and see if they can answer any questions you may have in a friendly, prompt manner. After all, in the event of an emergency, you want someone who is helpful, knowledgeable and cares about your pet’s best interest.
  • Find out if the pet insurance provider is licensed in your state as that means that the government regulates the company.
  • Some breeds of dogs have specific medical conditions that may be excluded from the policy, be sure that the policy you are considering clearly states if this is the case.
  • Reputation is everything! In addition to talking to your vet, talk to other pet owners to get their impressions/experiences regarding pet insurance. Look for online reviews on customer services, coverage, etc.

Pet ownership is fulfilling and rewarding for both you and your pet. Be sure to take the time to have the pet insurance you need so you can take care of your pet’s health. If you would like to learn more about pet insurance providers, give SleepEas…Zz a call. We will be happy to share our experiences with you.

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