Most pet owners will agree that owning any pet can be a serious and expensive business. As they are other living creatures, taking care of any pet is also a lifelong responsibility. You can’t just adopt a cat or a dog because they are cute and abandon them when they are old and sickly.
Older pets also can be more susceptible to health issues. Thankfully, there is pet insurance that can help you in time for a pet emergency. You can rest assured that when in time of trouble, the policy will cover most things.
What Is a Pet Insurance and How Does It Work?
As the name implies, pet insurance is designed for your furry friends. It works just like regular health insurance where you put your pet as the policyholder.
The policy will cover the expenses you spend on emergency care or other specific issues. Several policies have specific injuries such as only covering death or one-time accidents or other details.
Even though there is a limited amount of companies offering pet insurance. You can rest assured that they are doing what they do in your best interest.
Most policies also have a yearly limitation, which means you have the option to withdraw or renew the policy after a year. And if you let the policy lapse, you won’t receive any benefit.
What Does It Cover?
Different companies may put different coverage. Therefore, you must check whether they have what you need. For example, if you live in the suburbs, you may want to protect your pet from a road accident.
However, keep in mind that most policies don’t cover preventive care such as vaccines and spaying. You also can expect the policy to be a bit more expensive than the human ones. But you can always talk with your vet to see if they recommend any company.
How Much Does It Cost?
Price is a relative matter since most owner will want the best for their pets. But several things to note here is that companies will calculate the risk based on the breed and age of your pet.
Just like human, the older they are, the more expensive their care will be. The same goes for the breed. A policy for a Siberian Husky will be more expensive than a Pomeranian. The rule of thumb is the more exotic the pet is, the more expensive it will be.
On average, a young pet will cost you somewhere between $10-15 per month. Each company also has a different policy on deductible and claim process. So you need to make sure that you agree with the clauses.
One thing about pet insurance is that it mostly only covers cats and dogs. Exotic pets such as sugar gliders and iguanas are still not covered by the policy. However, you also can start a savings account to use instead of insurance. This is especially true if you have multiple pets and can only afford a policy for one.