Is Pet Insurance Really Worth It?

In the 1980's pet insurance first came on the scene and for many pet owner's they were thrilled until they saw what was being offered and the limitations of these plans. There was only one company that offered insurance and it was only for extreme cases, such as if a pet had cancer and it paid very little of the treatment costs. Therefore, many pet owners were frustrated with the offerings and never looked into insurance for their pets again.

However, pet insurance has come a long way since its early days and while it is still relatively new, there are several companies that the consumer can choose from. Moreover, the coverage is much more comprehensive and even includes add-ons such as wellness, which means that the annual vaccinations and office exams can also be covered.

How does an insurance policy on your pet work? Simple. If you had to take your dog or cat in for an ear infection and it ended up costing $600 for treatment and medications, you pay the bill, then file a claim with your pet's insurance company. Depending on the plan, they typically have a deductible of $50 to $100 and then pay 80 to 90 percent of the bill. Therefore, if the plan had a $50 deductible and paid 90 percent of the cost, you would get a check back from the insurance company for $495. This a substantial savings for you, and many policies offer the wellness option that includes your pet's annual physicals, vaccinations, and many times heart-worm medications and tests.

Today, cheap pet insurance has advanced significantly so that you can make sure your pet is covered from babyhood into old age. Keep in mind that premiums are often based on the age of your pet and some companies will not insure your pet if it is over 10 years of age. However, if you have your pet insured, your insurance will not be canceled once the pet turns 10, which is why it is important to have them covered as early as possible.

You may be thinking with all the advancements in cheap pet insurance that it may be expensive, but the truth is, it is still very affordable and if you have more than one pet, you can get a percentage of a discount when you insure them at the same time. It truly is a great way to keep your finances protected and be able to make sure your pet gets the care they need, when they need it. Lastly, shop around for insurance, because some of them are very unique and may not be what you are looking for. However, with a bit of research, you will find the perfect plan that is cost-effective for you and protects your pet at the same time.

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Is Pet Insurance Worth It? Knowing If You Should Buy Pet Insurance for Your Cat

If you're wondering if you should get pet insurance for your cat, you're not alone. A few years ago insurance for your pet would have been on most peoples list of things that are not needed. These days it has become a different story.

Still the main decision lies in deciding whether to put your hard earned money into premiums or put the money into another financial vehicle that will work better for you.

Owning a Cat still has its risks. Little bandit may grow into a happy cat and live a long life of doing whatever cats love to do with few to no worries about their health. On the other hand, there is the possibility of an unfortunate accident happening to poor Bandit. As well Bandit could contract any number of diseases, picked up from who knows where, or suffer from ill health due to a less than healthy diet.

You just don't know what will happen. So really the question is am I financially prepared to handle anything that may happen or will insuring my cat be a better alternative than going into debt? Plus, do I care enough about my cat to ensure he or she is protected from anything that may happen.

With the high cost of newly available treatments for pets, caring for a pet on your own can be risky without pet insurance. The small costs of regular cat care can be handled by most of us, but if something life threatening happens we may not have the available funds to afford proper treatment. Without pet insurance you're faced with a difficult choice to go into debt or loose your pet or both.

The average cost for insurance over the life of your cat is anywhere between $2000. to $7000. You may never match or exceed that amount in treatment but it can be a far more manageable amount should any large vet bills come along.

Advancements in Vet care bring higher costs

It's important to be aware of the treatments available to your pet that were only recently available to just us humans. A non-treatable diagnosis meant your cat couldn't be helped, but these days what was untreatable is now treatable but at a price tag of anywhere between $1000 to $5000 or higher.

With the newer tools and techniques vet use today an examination of your pet can reveal conditions that would have gone unnoticed and untreated before. Again these more sophisticated exams are more costly.

As a result of these higher prices for vet treatments and procedures pet health care costs have also risen.

Of the approximate 50 billion we spend on our pets, 30% goes to Veterinary care. That's around 15 billion. With 85 million cats only 1% to 2% percent of Cat owners have pet insurance policies.

Will Pet Insurance protect you from everything?

Most pet health care policies come with a deductible as well as a yearly limit to what will be paid out for your claims. Plus there are other features such as co-pays that mean more money out of your pocket.

Also most cat insurance companies exclude hereditary conditions and pre-existing problems. Policies for older pets are significantly higher and some pet insurance companies will not cover any pets older than nine years.

Some of the more common conditions for cats, such as foreign body ingestion, rectal cancer and mast cell tumors range in cost of $495. up to $1650.

Owning a pet is not cheap. They are expensive, no doubt. Insurance for your pet can protect you from any frighteningly huge, unforeseen costs and hopefully you can handle the rest.

Pet Plan Insurance - Why Do You Need It?   Insurance for Pets - Simplified for You   A Guide to Buying Pet Insurance Online   What You Need to Know About Insurance for Horse Riders   The Importance Of Pet Insurance