Should You Buy Pet Insurance?

Take home a dog or cat means your day-to-day life will be full of fun and unforgettable moments. But life is also full of surprise and sometimes, your little lovely furry friends get into trouble that is not as minor and simple as a little mess inside of your own house. In some worse scenarios, the problem could be much more costly, serious, and threatening. Your pedigree dogs and cats develop cancer or require surgery, but you could not afford the procedure. Faced with this kind of unforeseen events is when you regret not having carried pet insurance.

How Much Americans Spend on Pets

Never let yourself regret not having carried pet insurance
According to a survey recently conducted by the National Pet Owners Survey conducted by the American Pet Products Association (APPA), about 85 million families (accounting for sixty-eight percent of U.S. households), own a pet, up from 56 percent in 1988. Among which, 36.5% of US households (60.2 millions of households) have dogs as pets (a total of 89.7 million) and 30.4% (47.1 millions of households) own cats (a total of 94.2 million).

In addition, more than 91% of pet parents in the USA consider their furry friends as equal as a member of their family and the average monthly cost spent on their pets is $126.19. In 2017, pet owners in the USA were on track to spend a whopping 69.51 billions of dollars on their pets (dogs, cats, birds, fish, and other creatures). This number is up about 4.1% from the 66.75 billions of dollars that American customers spent in pet veterinary bills in the previous year. In 2018,  the total U.S. Pet Industry Expenditures of $72.13 with a 6.9 percent growth is anticipated.

Should I Buy Pet Insurance?

With an estimated 800,000 policies, pet insurance can help pet owners to cover expensive and unforeseen vet bills. There are a lot of good reasons why pet owners should consider taking out pet insurance coverages. First of all, financially, with a good pet insurance that covers broadly enough for whatever treatment services your pets need, even in a worst-case scenario, you will never have to decide between your wallet and your pet health, pay 100% of the additional veterinary expenses from surgeries, treatments or medications with no advance warning or feel helpless when your unlucky pets in need of a medical emergency.

The high enough limits not only do cushion you and prevent you from dipping into your family’s emergency fund but also, most important, physically and emotionally, save and extend the life of your beloved pets or get them back on their paws by enabling you to use any licensed veterinarian, clinic, or specialist throughout the US to authorize the medical treatment your pet needs should he/she gets hit by a car, needs cancer treatments, or require surgery.

Do you really love your pets? If yes, why do you still hesitate to carry pet insurance? However, one thing to note is that pre-existing conditions are never covered, no matter what insurance company and policies you choose. For that reason, you should cover your pet as soon as possible.

If you want to buy pet insurance, you should understand thoroughly what’s essential and what’s simply a nice-to-be-included in the insurance policies based on your pet needs and your budget as well. But before digging into the policy details, analyzing coverage, and having your pets tested to choose perfect pet insurance, it is much more essential to know well what pet insurance covers.

What Does Pet Insurance Cover?

 Like health insurance coverages for humans, pet owners are free to choose your level of cover with most pet insurance policies. Keep on reading to see the varying levels of pet insurance as below:

Accidental injury: The accident-only pet insurance plans available cover the vet expenses to treat physical injuries caused by an accident, such as broken bones, flesh wounds, torn nails, lacerations, or even snake bites. But illness or congenital disease falls under the policy description. These standard coverages are usually the least expensive among all the types of pet insurance plan.

Illness: Just like humans, not all breeds are the same. Every of your pet breed is likely to be more vulnerable to specific problems. For example, some tend to get into joint problems, while others are likely to suffer from respiratory difficulties. And their life is often threatened by its own unique set of health risks. If you want your pets to live with you as long as possible, my recommendation is to consider all of the health conditions and abnormalities strictly associated with your particular pets. If your pets are otherwise healthy ones, this illness-only plan helps pay the bills when they suddenly fall in. Infections, upset stomachs, and skin conditions are some illnesses included in this type of plan.

Accident and illness: As animal lovers, we all know that our mischievous feathered pets play an essential role in our lives, but animals of all types can all of a sudden suffer from an array of accidents and develop a ton of illnesses. So what should we do when one of our closet friends has sickness or is injured? Nothing is better than providing them with the best healthcare services.

My advice? If your financial conditions permit, you should choose a more comprehensive plan with a higher level of cover, which incorporates more than just accidents and illness. This is when you realize that the benefits outweigh the cost of the month-to-month insurance.

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