Top 10 Reasons Animal Owners Should Get Pet Insurance

Many people may think that pet insurance isn’t worth the added monthly cost, but the investment in pet insurance can help save a life and keep you from financial stress. Believe it or not, less than 1% of pets in the US are covered with pet insurance plans. Here are the top 10 reasons to consider pet insurance for your beloved pet.

# 10. Accidents and Illness Coverage

A single accident or illness may cover the entire cost of your pet insurance bill for the life of your pet. Consider this, the average pet insurance policy costs somewhere around $25 per month or $300 per year. It’s really less than a dollar a day, or less than a cup of coffee at the local doughnut shop. If you pet lives an average of 10-15 years, your total cost of pet insurance would be between $3000 – $4500 for the entire life of your pet. One accident or illness during your pet’s entire life could easily cost $3000 – $4500 and if your pet is like most pets, there will be at least more than one accident or illness in his lifetime.

# 9. Vet medicine is better than ever

Years ago a pet would be euthanized or die of natural causes from devastating illnesses. Today, many of those illnesses that were once considered a death sentence for a pet are now very manageable, treatable and even curable. Do you want to have the means to care for your pet if he gets sick, or do you want to have to struggle with a decision because of the cost?

# 8. More pets equals more discounts

Many pet insurance policies offer discounts when more than one pet is insured on the policy. More pets typically means more vet visits and more chances for accidents or illnesses.

# 7. Insurance is easy

Pet insurance companies have made the entire process easy. You can have them automatically withdraw premiums each month, and when you file a claim, you can do so online answering a few simple questions and submitting a copy of your vet bill. Within a day or so, most insurance companies will reimburse you through direct deposit or a check.

# 6. No limit on claims

Years ago, pet insurance companies placed lifetime limits on certain illness. Today, there are many pet insurance companies that do not have such restrictions. When a pet becomes ill during a time when you have pet insurance, the pet’s medications and treatments are covered for the rest of the pets life.

# 5. Deductibles are low

Unlike insurance for people, deductibles for pets is much lower. Typically, deductibles are on a per illness basis, meaning that you pay a deductible once for a given illness, then everything after that is covered at your payout rate.

# 4. No breed or size restrictions

Although many policies will adjust premiums based on age and pre existing conditions, most pet insurance companies offer insurance regardless of pet’s breed or size.

# 3. Plans are flexible

Many pet insurance companies let you choose the deductible and payout you prefer. Plans with a lower deductible typically have a lower payout and plans with a higher deductible have a higher payout

# 2. Better quality of life for older pets

Older pets get sick or have accidents that require medical attention. Older pets often develop chronic illnesses that require constant treatment for months to years. Medications, check ups, testing, monitoring and surgeries can really add up quickly for older pets; getting pet insurance when they are young will save you heartaches and headaches in the long run as your pet ages.

# 1.  Peace of mind

For pet owners without pet insurance, learning that your pet needs a very expensive operation or course of medical treatment can be financially devastating. Having to choose between your wallet and your pet is heartbreaking. Insurance will afford you the opportunity to do what is right for your pet and not just what you can afford.The majority of pet insurance policy holders claim that they are comforted by the peace of mind pet insurance affords them. The idea that they never have to choose between caring for their pet with what is medically needed and “economic euthanasia” is of great comfort in dire circumstances. Having the financial ability to take care of a sick pet in their time of need is the number 1 reason most people have pet insurance today.

Read more articles about pet insurance.

What if your pet has a pre existing condition?

If your pet has a pre existing condition or accident and you are concerned about the high cost of potential vet bills, you may have considered pet insurance as an option. Unfortunately, there are no pet insurance policies for pets with pre existing conditions. So if you pet recently had an accident or was diagnosed with an illness, then you won’t be able to qualify for pet insurance. 

Fortunately, there is a program available that offers discounted vet medical care, which can make caring for an unwell pet more affordable. 

This particular program is not pet insurance so there are no exclusions, no forms to fill out and no deductibles to meet before your coverage kicks in. This also means you won’t be denied any claim for any reason. 

Whether your pet has a pre-existing condition like allergies or periodontal disease, a hereditary condition like hip dysplasia or diabetes, or is a type of pet that wouldn’t traditionally be covered by pet insurance, like rabbits or birds, you can save on their veterinary care. 

The only catch with this program is you must visit a participating vet in order to receive the discounts. 

If you have a pet with a pre existing condition, this program may be a good option for you because they are not a pet insurance company. Rather, it is a veterinary discount plan that offers you discounts on vet care for your pets, including pre existing conditions. The program is designed to be simple, efficient and all-inclusive of any and every pet, regardless of age, existing health conditions, or breed. You will not be asked to submit past vet records, prove that your pet is healthy or jump through hoops to get your pet enrolled. 

This program covers the following:

  1. Wellness visits
  2. Sick visits
  3. Emergency care and hospitalization
  4. Surgical procedures
  5. Spays and neuters
  6. Routine care and vaccines
  7. Dental exams, cleanings, and x-rays
  8. Allergy treatments
  9. Diabetes management
  10. Cancer care
  11. And much more

While this program does not reimburse you like pet insurance would, it is a practical way to reduce the cost of your veterinary medical bills and you receive the discounts from participating vets at the time of service, saving you money instantly. This program makes veterinary care a bit more affordable so you can ensure that your pet always gets the care he needs. 

We do not endorse or promote any products or companies. You should always consult your vet to determine what is most appropriate for your senior pet.

Pet Insurance Facts

What Does Pet Insurance Cover?

Pet insurance is designed to cover the unexpected accidents and illnesses that you just can’t plan for, such as when the dog swallows something he shouldn’t, or the cat gets a urinary tract infection. Pet insurance is like any other type of insurance, you pay a monthly or quarterly premium and it is there for you when you need it. Coverage typically includes emergencies, hereditary or congenital conditions, cancer, and chronic conditions. 

When selecting a pet insurance company, choose one that offers one clear and comprehensive plan that provides you and your pet with no caps on claim payouts. 

What’s Covered?

Different companies offer different types of coverage. Some variables to watch out for:

  • Deductible—The amount you’re responsible for before benefits kick in.
    Deductibles can be annual or per incident (annual is usually recommended).
  • Reimbursement Level—The percentage of the remaining cost (after the
    deductible) you can expect the insurance company to cover. You can typically
    choose from 70%, 80%, or 90% reimbursement levels, with higher reimbursement levels resulting in a more expensive monthly premium.
  • Limits on Benefits—Look for companies that have no annual or lifetime limits on the dollar amount they will pay to cover your vet bills. If your pet suffers a serious injury or illness you’ll be glad your coverage doesn’t have a cap.
  • Coverage Exclusions—Look for companies that cover all accidents and
    illnesses, including genetic and hereditary conditions, and do not exclude conditions based on breed.

What’s Not Covered:

It is important to note that no policy covers pre-existing conditions (so don’t wait until your pet has an unexpected trip to the vet to consider pet insurance). Most policies don’t cover wellness care either (those annual vet exams and necessary vaccines); some companies do offer wellness coverage. For most, pet insurance is most effective for unexpected accidents and illnesses.

What to Look For:

  • A policy that allows you to use any vet. Pet insurance differs from human health insurance in that you typically you pay the vet directly and get reimbursed by the insurance company.
  • Pet insurance that reimburses you based on the actual vet bill, as opposed to a benefit schedule.
  • An easy claims process. Look for apps and online claims processes — avoid physical forms.

What does Pet Insurance Cost?

Pet insurance premiums are calculated based on your individual pet’s breed, age and zip code.

  • Cat health plans typically range from $15 to $40 per month.
  • Dog health plans typically range from $25 to $60 per month.

Below are several pet insurance providers that may insure a well senior pet. As mentioned, it is important that you insure your senior pet before they develop an illness or have an accident.

The following companies may provide pet insurance for senior pets. 

Pet Insurance Dog insurance and cat insurance from Healthy Paws Pet Insurance. Get pet insurance reviews. Compare pet insurance plans.

We do not endorse or promote any of these products or companies. Products are listed for demonstration purposes only based on available information at the time of publication. You should always consult your vet to determine what is most appropriate for your senior pet.