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Is Pet Insurance Right for You and Your Pet?

By: whyamirich You may not be aware of this, but pet insurance is available to cover your expenses should your animal become ill or get into an accident. Surprise pet care expenses can be avoided if you have coverage.

One aspect of pet ownership not fully understood by the novice pet owner is the true expense of having a pet. Dogs are often more costly than cats. After all, it makes sense that a typical dog eats more than a typical cat. Annual vet visits are typically more for dogs as well.When your pet becomes ill or has an accident, it will to cost you a pretty penny.

Now, you might be inclined to think, that your cat is safe indoors. While your cat is definitely safer indoors, indoor cats can get out. The unfamiliar outside can be a greater danger to an indoor cat than a cat who is used to the outdoors. Additionally, there are many dangers to your cat or dog inside the house as well.

Holiday decorations have been known to kill cats. Your cat can easily ingest something she shouldn't, and there is one account of a cat consuming "Silly String." These items can tangle up in the intestines, causing severe damage and or death.

Pet emergencies can be very costly. Even without an accident, your cat may still become ill. Cats are prone to diabetes, heart conditions, worms, and any number of other conditions.

What is pet insurance all about? I don't wish this on you, but it can happen. Let's say you bring Smoke to the vet and he's diagnosed with a major illness or health problem, such as diabetes. Your costs could run in the thousands for testing and long term care. The whole idea behind of pet insurance is to help pet owners defray health care costs for their animals by paying small amounts each month for a pet health insurance policy.

Do you really need an insurance policy for your cat or dog?

My cat has a heart condition, and I did not have pet insurance at the time. When she began to show symptoms of a problem the vet determined that she had a heart murmer. I was more than willing to pay the vet whatever it took to find out exactly what was going on. Having been through this rather expensive experience with my cat, I can say that having pet insurance coverage for her would have been a big burden off of me.

Sadly, my vet told me that a lot of cat owners can't afford to pay for tests and/or treatment, and so they often don't even find out what is truly wrong with their pets.

On the other hand, I know someone who is still paying the $3000 worth of vet bills for a dog she had who died quite some time ago. If she had had a pet insurance policy, the cost of care would have been covered.

The Good: Pet insurance gives you as a pet owner peace of mind and ease of wallet. To be able to budget your pet’s health care costs over the life of your pet can give you a sense of freedom both financially and emotionally.

Most of us are on a monthly budget. Incorporating your pet insurance premiums (and therefore the cost of your pet's health care) into that budget helps you avoid sudden and unexpected expenses. You won't have any unplanned-for out-of-pocket expenses if your pet becomes ill or is involved in an accident. One thing I learned early on as a cat owner is that vets are not cheap!

You can choose from different plans from various companies, some of which pay up to 100%, with no physical exam required. In some cases, there are no annual maximum benefit restrictions. You can even get routine care, such as vaccinations and prescription flea medication covered. Some company plans, such as VPI Pet Insurance, will also cover spay and neuter procedures. See the details of the VPI Superior Plan plus Routine Care Coverage at VPI's web site.

While there are some exclusions, PetCare Pet Insurance guarantees that your pet will be accepted. As with all insurance, you may cancel the policy at any time if you feel it is not in the best interest of you and your pet.

Customer satisfaction levels are high for pet owners who have purchased PetCare pet insurance.In some cases, having insurance has saved the lives of the pets involved, since it allowed the pet owner to pay for veterinary procedures that they could not have afforded.

The Bad: Is pet insurance cost effective? That depends. Some who have purchased policies say that buying coverage for a young indoor pet is more expensive than paying a veterinarian on an a case by case basis. Very young pets are rarely involved in accidents and only very occasionally become ill.

There are some age and breed restrictions, so check with the particular insurance company you've chosen for the details and to see if your pet is elligible. As with most insurance policies, there is a grace period in some cases, as well as some exclusions you should know about.

For example, for PetCare Pet Insurance customers, as a requirement of the policy, you have to maintain annual veterinary visits and vaccinations for your pet. Check with the company providing your coverage to ensure you Be sure you comply with your particular policy agreement.

The Ugly: For cat or dog owners who have pets that are a little older or those that spend a lot of time outside, pet insurance is an excellent value. For owners of very young animals or those that live inside, the cost of pet insurance may be greater than the dollar amount of the protection it provides.