Before You Buy: What You Need to Know About Pet Insurance

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Making the choice to get a pet dog or cat these days is often a difficult choice to make when you have kids and you wonder if you can afford the added expense.

I am sure you are well aware of the benefits of having a pet, but you worry about the cost incurred from having one and what will happen if you cat or dog becomes ill.

Let’s face it, once we adopt a pet they become a member of our family and we like to do whatever possible we can for them if they become ill. This is not always possible due to the high cost of taking a dog or cat to the vet, let alone paying for any treatment they might need.

Many insurance companies have tried to help us with the high cost of taking care of a pet by offering pet insurance. Although pet insurance is an option, it is not widely owned.

It has been estimated that only 3 percent of dogs and 1 percent of cats are insured.  Most pet owners do not get pet insurance because they are misinformed about it. One of the biggest misconceptions is that it costs too much.

Pet insurance is intended to help owners avoid having to choose “economic euthanasia,” that is, letting a beloved animal go because they can’t afford the vet costs.

Although you will have to examine the different pet insurance out there and figure out if they are worth it for the age and health of your pet, here are five things you should make sure you have the answers to before you buy it.

Remember that pet insurance may give you the ability to get quality veterinary care for your pet if they need it. Just make sure you do the background work to determine which insurance is the best for you.

The first question you should ask is “How much does the plan cost?”  Make sure that you are getting the right amount of insurance at an affordable price. Something that you should be aware of is that “Unlimited” plans will often cost you a higher price.

You should also know that only 0.5% of those insured with pet unlimited plans ever hit this limit. So the question becomes, “Is it be worth it to have the more expensive plan?” What are the chances you will use it?

Another important question to have answered before you buy pet insurance is what factors will affect the reimbursement you will get when you finally use your insurance?

A word to the wise, you should avoid those plans that limit injury and illness pay outs by excluding exam fees, incident deductibles and by using a benefits schedule. You will usually lose from these kind of plans.

In conjunction with this question is whether they will cover wellness visits. Wellness visits are important so you should try to get a plan that covers these.

With one pet insurance that is out there, the wellness visits only cost $10 more a month. This is not a lot if you consider that one visit could cost you as much as $65.

If you are going to get pet insurance, you should make sure you get it from an experienced provider.

They have done the insurance before and you are less likely to have any problems getting reimbursed if you deal with a company that is experienced.

And finally make sure you understand what the insurer may require you or your vet to do before you acquire the insurance. Some insurance companies require you to have your dog or cat examined first.

Remember that pet insurance may give you the ability to get quality veterinary care for your pet if they need.  Just make sure you do the background work to determine which insurance is the best for you.

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