If you have a pet, you better insure it. Pets are not properties, they are not adult humans either. They somewhat fall between the two. Their owners treat them like children. But ever seen parents insuring their children? No, never.
So pets are important members of the household (that’s what owners love to believe), but a different type of members. The type that requires insurance. Insurance guarantees pet owners won’t go into a hiccup mode paying for untoward incidents involving them, such as illness and injuries.
Why need pet insurance?
As a pet owner if you are unsure why you need pet insurance, here’s the answer.
The coverage will be huge. Not just accidents or illness, it will include an array of other facilities alongside optional coverage. Here’s a list of diagnostic tests covered by standard pet insurance policies:
- Medicine prescribed by vets.
- Imaging tests such as ultrasound, MRI, X-ray.
- Dental treatments.
- Alternative therapies and treatments.
This excluding kennel fees, advertising when/if the pet is lost, et al. All these come under optional coverage, mostly at a pocket-friendly price.
Simply put, having a pet insurance lets you sleep at night comfortably knowing you can arrange money in case anything bad happens to your pet.
Surge in insurance buying
Data indicate the number of pet insurance buyers has lately increased. Understand pet insurance has changed over the time. Even a decade ago, insurance agents used to visit from door to door hoping to sell packages to meet their sales target. But today, pet owners themselves call the agents and inquire about different insurance plans.
There are several factors at play – factors that marked this shift in interest. One such factor is loneliness. A large number of American men and women are lonely. Human beings are social animals; we don’t want to be left alone. We crave some form of intimacy. When we don’t get it from other humans, we expect it from pets.
So while having a pet is nothing new, seeing the pet as a replacement for a human companion is definitely new, and driven by loneliness. Hence, the surge in pet ownership is not sudden or accidental. Pet ownership will continue to increase and so will people buying insurance policies for their duckies.
Out of pocket cost
Cost is a legitimate concern for so many pet owners out there. The high cost of maintaining a pet is driving them to buy insurance. Vet fee is huge in the USA. Add to that hospital stay and a series of tests; both necessary and unnecessary, and the cost is sure to go up.
Pet insurance keeps out of pocket cost down. Naysayers may argue that cumulative insurance cost is often higher than what customers expect. It happens because customers buy insurance thinking of the moment, not thinking of the pet’s age and health conditions.
Remember, the two aims of pet insurance are:
- Coming in handy in situations of medical emergency.
- Saving you from out-of-pocket cost.
Understand the bottom line. Just because your pet is healthy doesn’t mean it needs no insurance. It could be at the peak of its health and still needs insurance. Maybe to cover the hospital costs after an accident. Accident coverage policies are optimal when, as a pet owner, you don’t want the cost of premiums to accrue and hit the ceiling one day.
That will do more harm than good as your out of pocket cost will increase.
Factors to consider
Akin to home or auto insurance companies checking your credentials before approving the policy, pet insurance providers will examine the credentials of your pet. The credentials here are the pet’s age, health condition, previous injuries, breed, etc.
If the pet is young, healthy, with no record of previous injuries or illness, you can expect insurance at a low premium. Insurance cost largely depends on your location. Cost will be substantially high if you are living in an upscale city. It’d be affordable if you are living in a Podunk town.
Taking care of pet
As a pet owner, you need to take a very good care of your pet. I know, you are already taking a great deal of care, but think from the pet’s point of view. Do you think you’ll want more care if you were the pet? If yes, the care you are taking is not enough.
Why is it a crucial advice?
Because some pet insurance companies covertly inquire how you are treating the pet. If they feel you are not treating it the way it should be treated, you may face hurdles in getting the insurance.
This article elucidates the importance of pet insurance. It’s more than necessary if your pet isn’t healthy. When there’s no problem with its health, you may still need insurance to cover expenses in case of an accident.
So, get pet insurance today.