Many pet owners have come to the point at which they ask, “Should I buy insurance for my pet?” They may go a step further and ask if investing in insurance for their pet is actually worth the investment. The answer to both questions is generally, “Yes.” The individuals who decide against buying a policy for their family pet may find themselves in a difficult financial situation when their usually healthy dog or cat is the victim of an accident or another negative event.
It would not be out of the ordinary for a pet to consume something that is poisonous or could otherwise damage their health, resulting in veterinary charges of a couple thousand dollars. With an insurance policy that fits your budget and provides good coverage, you could find 80% of those expenses covered by the insurance company. It makes sense to have a policy in place that has this effect on your costs.
Industry research in the past few years shows more pet owners are beginning to understand the importance of health insurance plans for their family friend. In fact, the number of policies in effect doubled in one five-year period studied. Saving money is certainly one of the primary reasons why pet owners are buying policies in increasing numbers. However, many of the individuals included in the research and surveys stated that “peace of mind” is a major reason. With a policy in place that covers the majority of vet costs, they don’t hesitate to get the best care they can for their pet. It’s just that simple.
Once a policy is in effect, you can renew it and keep it current, so that veterinary costs are reimbursed (usually up to 80%). Of course, plans vary, so you have some options. But, you can learn more about reliable pet insurance options when you visit one of the leading providers of these special policies. Generally speaking, you can purchase coverage for accidental injury, or a policy for both accidental injury and illness. If you prefer, you can also arrange for major-medical cover that includes reimbursement for routine care. Because no two pets are the same, physically or in personality, it’s important for your insurance provider to offer an array of coverage options.
Changes in Insurance History
The history of insurance for pets is relatively long, dating back almost four decades in some locations. But that insurance is no longer reserved for “celebrity” pets and show pets that carry a high price tag. Thousands of owners are not buying policies in place for their family pets for several reasons. Pet medicine has advanced in remarkable ways, with associated increases in costs. The insurance industry has changed along with this growth.
The culture of pet ownership continues to change as well, with many pet owners now feeling more like pet “parents.” This leads them to invest in policies that make sure their pet gets the best in veterinary care. As this awareness increased, insurance providers have been more active in marketing their services.