How Important is Pet Insurance? Do you need it?
Now with the advent of MRIs, transplants, and replacements, your bill could easily get into the thousands of dollars range. Pet insurance will cost between $2000-$6000 during your pet's lifetime. While some may feel it would be better to have the money in your pet's own bank account, there are others who would go to any extreme to restore the health or save the life of their pets.
Is It Worth It to Have Pet Insurance?
Nearly one-third of the $46.billion that Americans will spend on their pets this year will be veterinary expenses. According to the National Commission on Veterinary Economic Issues, "only 850,000 pet insurance policies were in effect in 2007". This opposed to the 150 million pets being kept in the United States. Although that is an increase over previous years, it still causes many people to make painful financial decisions if their pets become seriously ill.your cat or dogs' life.
Most pet insurance companies do have deductibles, caps, and co-pays. These will limit how much is paid out annually. Any hereditary conditions, such as hip dysplasia, are not generally covered except by a few plans. Your fee will also be based on the age of your pet. Most companies will not take pets over 9 years old and the premiums are higher as a surcharge. Pre-existing conditions are generally not covered either.
Do you need Pet Insurance?
It is advisable to check with your personal veterinarian before making a choice. They are well informed as to the benefits of the different companies and can lead you in the right direction. Choosing the right policy is as important as choosing the right vet.