Pet Insurance – What to know about pet care!

This young puppy went on some expensive vet adventures! Read on to learn when pet insurance can make vet visits much less stressful—both emotionally and financially.

Our puppy chewed up—and swallowed—everything in sight.

Many of us have pets, be it a dog or a cat, that we view not as just a domestic animal, but as a true member of the family. We love and care for them as much more than a pet, and when something happens to their health, it can be stressful both emotionally and financially.

Our family has had more experiences than we would have anticipated when we purchased our 10-week-old Black Lab puppy we named Ozzie as a family surprise right before Christmas last year. He was all that we hoped for, a smart, extremely friendly dog that we quickly became endeared to. What we were not prepared for was Ozzie’s penchant to chew on everything in sight especially when he was a puppy. We nicknamed him “shredder” for good reason.

Why we regretted not having pet insurance for our puppy

Because of Ozzie’s curiosity for chewing things, we ran into the need for two emergency surgical procedures. (You can read about them in detail in my previous post about emergency funds. Because Ozzie was young and the picture of health, we were not anticipating thousands of dollars in medical expenses— due to the need to extract a stone from his intestine and a piece of wood embedded inside his chin in the first year of ownership.

These expenses put a serious dent in our emergency savings that would be better used for other purposes. Although vet bills are less expensive than human medical expenses, they are by no means cheap. It can easily cost several thousand dollars to fix a torn knee ligament or treat a dog for cancer or other serious illness.

What does pet insurance cost?

Fortunately, there are insurance solutions to ease the medical costs of pet ownership that are also much less expensive than even the cheapest human medical plans. Generally, the cost of pet insurance starts at $25-$75/month, depending on the level of coverage you select, the type and breed of the animal, and its age. A mixed-breed pet might cost less, while a breed predisposed to certain health issues (like clogging their insides with foreign objects) will cost more. Because there is extensive underwriting just like other insurance, your quote will be unique to the breed and age of your pet.

Pet insurance plans are highly customizable.

These policies are highly customizable, where limits of care, deductibles and percentage of coverage are all adjustable. There are several web pages that will link you to the major pet insurance companies and get you started with quotes. Reimbursements can be made directly to the veterinarian, or directly to you if you submit the bill, depending on the carrier.

Pet Insurance can provide stability to your savings—and peace of mind—when it comes to unexpected health costs for a beloved dog or cat.

Our family learned the hard way that having Pet Insurance can provide stability to your savings— and peace of mind—when it comes to unexpected health costs for a beloved dog or cat.

Is it worth the cost?

Is it worth the cost? That is something that each pet owner must answer for themselves. One of the benefits of having insurance is the owner is more likely to seek treatment for conditions when they know their financial liability is limited, which can lead to a happier, healthier pet. Like all insurance, value is proven when we need it! For your questions about insurance of all kinds, we are available to assist. For more information on how we can help you, please visit us at www.f5fp.com, or schedule a free consultation.

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Photo credits: Bob Anderberg (F5 Financial)