If you’re lucky enough to have pet insurance as part of your employer’s benefits package, it’s a little akin to what the frivilous luxury of having monthly botox injections covered by your human health plan might be. Despite the seeming impracticality of pet insurance however, to date 20 million pet owners have purchased this peace of mind to supplement veterinary care. But paying the monthtly premiums for pet insurance may be as useful as using those monthly botox injections on your pooch. Read on to find out if it makes sense for you.
In many cases it’s actually less cost effective to buy pet insurance to supplement routine visits to the vet than to pay for them outright. Whether or not pet insurance is a value for your household, however, depends on some tough questions you should ask yourself as a pet owner.
How often do you take your dog to the vet?
Contrary to popular belief, pet insurance is probably not going to be that helpful to you if your pet is in relatively good health and sees the vet for routine vaccinations and check-ups. Some companies, like VPI (Veterinary Pet Insurance), do indeed offer plans that cover vaccinations, but that entails purchasing an extra "wellness" plan, which will jack up your monthly premium. At a minimum, you can slash the costs of vaccinations by keeping your own records along with your vet’s and participate in vaccinaction clinics. These clinics, such as rabies clinics, charge a nominal fee for each vaccination without the added charge of the overhead of a vet’s office. The monthly premium you might pay for routine care such as this can easily exceed the cost of the actual veterinary care itself. To find out about clinics in your community consult your veterinarian, the local chapter of the SPCA or a local rescue group.
What is my budget for catastrophic accidents or illnesses?
While cutting edge technologies have made their way into the vet’s office, the cost of utilizing this technology to fix broken bones, treat cancer and other serious maladies, comes with a hefty price tag. Most pet owners know what it’s like to have to deal with either a pet that has been in an accident or has an illness that is treatable, but runs your vet bill up into the hundreds, if not thousands of dollars. Be honest with yourself. If you know that spending thousands on your pooch is unreasonable for the family budget, or you just don't think it's practical, then pet insurance is probably not for you. This might seem contradictory, but common exclusions such as hereditary diseases and disorders that are not covered under major insurance carriers, as well as deductibles, make pet insurance ill conceived if your budget is the bottom line. Since pet insurance is most helpful in instances of catastrophic illness and/or unforeseen accidents, it is really most economical to start a simple savings plan earmarked"vet emergencies" in which you contribute the equivalent of what your premium would be (between $20 and $50 a month), and it would serve the same purpose without the extra cost.
Who should use pet insurance?
If you don't think that paying for a complicated or lengthy surgical procedure is beyond your means both emotionally and financially, or you just couldn’t live with yourself without exhausting every last option for prolonging your canine companion’s life, then pet insurance is a good choice. Your monthly premium will assist with whittling down unexpected large bills that accrue with complicated and/lengthy treatment. Remember it pays to shop around when purchasing pet insurance as premiums, exclusions and deductibles vary widely.
For more info on how to spend less, get more and sweeten your life keep exploring all the info, updates, deals and coupons on RedPlum!