A part of our budgeted health costs for our furry friends

Today we will start with an interesting story with the childhood yellow Labrador of Monica Finlay, named Amy. She had surprise accidents which cost her lots of money a few years ago.

By reading our article, you will understand how much a couple can pay for their pets, simply because they consider her as one necessary member of their family. As a matter of fact, Monica Finlay along with her husband have spent $45 per month for paying a pet insurance company since they decided to get Ozzie which is a German shepherd dog mix about 6 years ago.

The importance of pet insurance

What has happened to Ozzie?

There is a serious accident and Ozzie blew out the ACL which costs Finlay’s family lots of money. As plans of the pet insurance may cover veterinary costs, pet owners can be divided on the issue that they are worth it or not.

Medical costs can be separated over the lifetime of an animal. We have some figures to prove this fact to you. If you are a cat owner, you will have to pay the minimum of $100 per year, while a dog may cost you the minimum of $200. Such numbers were collected from the British Society to Prevent the Animals Cruelty. However, those numbers just the cover routine visits without taking into account any emergency, which may add to the summary of at least 5,000 dollars.

Various fee ranges of the pet insurance

Monthly or annual fees vary and they depend on many factors, including the location, breed, and age of the animals, along with what your plan covers. Pet owners are able to choose from wellness, accident, and illness coverage, which may cover their routine visits as almost all plans do not.

Pet insurance plans are often the harmonious combination of the payout amount in the maximum level each year. Of which, a deductible is an amount an owner has to pay before pitching in the pet insurance while the co-pay is a bill percentage an owner should be responsible for. As far as you may know, many plans will not cover the future costs dedicated to the pre-existing conditions of insurance payers.

Even though fees vary, the average annual insurance cost for one adult cat in case of illness and accident coverage with a medium insurance company, for instance, can be $350, while the cost doubles to about $720 for an adult dog.

Further understandings

Pet insurance – A part of our budgeted health costs for our furry friends
As a pet owner, you can be much interested in following useful information:

It is estimated about 1 to 4 percent of domestic dogs and cats in our country, who have similar pet insurance type, like the dog Ozzie of Finlay family.

From our interview with the Finlay, they said that their pet insurance covered Ozzie’s $2,800 which is a large part of his medical costs per annum since he was discovered of having allergies to approximately 22 things, comprising wool, beef, and chicken.

It would be truly cost prohibitive in order to keep Ozzie if his owner did not have the pet insurance. Furthermore, adding all insurers to pay 92 % of such costs can save about $550 deductible for their one-time charge. However, not every pet requires such an expensive fee, their monthly fees, and ongoing care may add up much more than the amount an insurer has to pay.

Other stories

Michelle Houghton decided not to pay any pet insurance to Ginger - her cat and Brooke - her dog after weighing their monthly insurance cost versus their potential savings. To deal with emergencies, she along with her husband did set aside about $150 per month for the animal care service as well as draw on such funds if needed.

According to Michelle, if they do not need the above expenses, then it is money which we still keep in our hands. I do not want to feel like we are giving dollars to some insurance companies and our money will go forever.

In other aspects, not every pet owner can take out the insurance though. We will bring you to one of the cases here. The guinea pig of Mary Stanford fell ill due to one disease of metabolic bone, named fibrous osteodystrophy. So, she paid about $950 for trimming the teeth of Ember three times along with about $750 for one visit to his specialist.

Then, she looked carefully into her pet insurance dedicated to guinea pigs, and could not find a suitable plan which can cover them. As a result, she shells out routinely between $30 and $60 for one vet visit as well as paying about $250 for 2 X-rays sets for Onyx. After that, she always keeps $600 on her hand for her vet purposes, rather than paying for the pet insurance.

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