Is Pet Insurance Necessary?

Is Pet Insurance Necessary?

pet insurance Broken Arrow OK

At first, getting a pet always seems like a great idea but not many people are ready for the responsibilities involved. Suddenly, your costs increase on not only food but veterinary costs, checkups, shots, teeth cleanings, surgeries, and more.

In order to keep our pets healthy, it can be an expensive and timely process. According to a recent poll, households with a dog or cat spend around $212 per year on routine visits to the vets. Of course, this is just a minimum too because you will most likely pay out for vaccines and any emergency treatments if they become ill or injured at any point too.

As a result of these costs, many people are choosing to take out pet insurance. In fact, it is thought that around 2% of dog and cat owners now have a policy but is it worth it? If you were to set up a policy, a standard coverage will set you back around $50 each month which presents a significant investment for around $600 per year.

According to Consumer Reports in 2011, pet insurance is more than it is worth because a pet will generally only need medical care for serious injuries or illnesses once or twice in a lifetime whilst remaining healthy for the rest. Therefore, pet owners are now looking towards other solutions and we have a few of them here for you today.

Credit Financing – Firstly, there are now specifically-designed credit cards for health care financing such as Citi’s Health Card, CareCredit, and Wells Fargo’s Health Advantage. With this option, your personal cards will be available for all normal purchases whilst the health card takes care of all spending relating to health. Since they are accepted by a significant amount of vets and offer low interest rates, they provide a solid option.

Discount Plans – For example, a 25% discount can be received with Pet Assure just by paying a simple monthly or yearly fee. Whilst some options only cover preventative procedures, discount plans will normally cover all procedures and Pet Assure can even be used alongside a regular insurance plan.

Wellness Plans – If you are only interested in preventative care, wellness plans will provide a solution for you. For example, treatments will include fecal exams, diagnostic testing, and deworming. However, these plans will not provide support for emergency procedures.

Payment Plans – If you are a long-term client of a particular veterinarian, ask if you can pay in small chunks rather than one lump sum so you can spread the cost. Normally, most services will be happy to do this for customers but you will have to check beforehand.

Save – If you don’t want any plans or policies whatsoever, the solution is to put money aside each month for emergencies and include pet care in this potential cost. If your pet gets sick, you can take money from this pot of savings to solve the problem quickly rather than scrambling to get some money together!