Having a pet can be one of life’s greatest joys. They’re adorable, friendly, and fun to have around. However, they also come with responsibility. What if your pet suffers an injury and needs to get treated? Chances are you’ve heard of pet insurance- similar to insurance for people, pet insurance guarantees to cover part of a pet’s medical bills. This way, you won’t have to pay the full price of a procedure or medical care. With the increasing prices of pet insurance, is it worth the cost?
The base rate of pet insurance depends on a lot of factors such as location, what type of pet you have, your pet’s breed, age, and how much coverage you want from your insurance. Pet insurance is more costly for dogs rather than cats, but the average one can expect to pay is around $40 a month. As the costs increase every year, people may question if obtaining pet insurance is a financially sound decision. It may not sound worth it- when a pet is in its earlier years of life, there is no guarantee that you will need the insurance. Only a small percentage of Americans have insurance for their pets. If your pet isn’t injured, it may not make sense, and you may be relying on the thought that your pet may never be injured, thus rendering insurance worthless.
The Bottom Line
If it so happens that you may need additional assistance in covering your pet’s medical bills, investing in pet insurance may make life a little easier. Evidently, whether or not you should get pet insurance depends on your own personal circumstances. If you analyze the costs of pet insurance plans and decide that you can afford it, it is a good cushion to have in the event of adversity. The money that is spent on pet insurance goes towards improving the health and safety of your pet and can help cover day-to-day veterinarian visits, surgeries, and help with preventative care. Before buying pet insurance, make sure you are well aware of the different types of plans and coverage offered so you could make the best decision for your pet.
Story written by: Raidah Chowdhury