Pet insurance for your pet’s health is a tricky subject. Many dog owners wonder if purchasing basic pet insurance for dogs is worth it. Some dog owners may just get pet insurance for peace of mind. The truth is, some dog health insurance could cost up to thousands of dollars spent per year. Financially secure pet owners may have enough money to pay out of pocket if something arises. However, the average consumer may not be able to shell out the dough for unexpected surgeries or treatments by the vet. Let’s go over the practical reasoning on whether or not you should get your dog pet insurance:
Should You Pay the Price For Pet Insurance?
You may be considering several pet health plans for your dog. We encourage you to shop around for the right plan that works for your budget. You need to think about how much you could pay if an emergency arises with your dog. Then, calculate how much you would realistically be able to pay. What is your cost threshold - what can you risk? To put things into perspective, you could spend a few hundred dollars on a mild infection or stomach bug. However, a severe problem that may require surgery or on-going treatment might cost you thousands of dollars out of your pocket.
Many dog owners without insurance and the income to spend on treatment are often forced to put their dog down in that case. Of course, you want to avoid this scenario at all costs.
Can You Afford Pet Health Emergencies?
Think about if you could afford a life-saving operation or treatment for your dog. If the answer is no, you want to consider purchasing pet insurance. Try to get decent coverage at an affordable price. For adequate coverage, you are looking at spending an average of $45 per month for your dog. Of course, if you pay annually, you could pay significantly less if that is something you can afford to do at once. Whether you go with a monthly plan or an annual plan, you can rest assured that you will not have to shell out thousands of dollars if your dog has to undergo emergency surgery.
Let’s breakdown the insurance costs to you if your dog has emergency surgery for removing an object from his or her stomach. Out of pocket, without insurance, would cost as much as $7,000. If you have insurance, you are paying somewhere between $300 and $600 per year. Let’s assume you have a $500 deductible with an 80% reimbursement. You are looking to save around $4,500 at this point. Of course, these costs will vary, and insurance plans will also vary. Then again, if nothing happens to your dog in a year, you know that you are paying for preventative health care for your dog.
Just remember, the cost of protecting your dog with pet insurance could save you in the long-term.
Comparing Pet Health Plans
You should choose health insurance for your dog. Just remember to get a plan that covers accidents and illnesses. Remember, most pet insurance plans do not cover preventative care or routine check-ups. The most significant benefit of pet insurance is covering unexpected accident and illness protection.
Thankfully, most pet insurance programs allow pet owners to customize their pet insurance policy for the sake of your pet’s health. Finally, always look at the deductible, the amount of money you’re going to have to pay before the pet insurance kicks in. Often, pet insurers will require you to pay for medical bills and apply for insurance reimbursement. It’s better to know what you’re getting into before leaping getting your dog pet insurance.