Pet owners are all too familiar with the cost of pet ownership. From getting the proper dog food, to constantly having to replace worn out toys, owning a pet can be quite a costly endeavor. The cost of pet ownership is something that can be easily budgeted for when creating a financial plan as toys, food, and other items are needed on a routine basis. What isn’t easy to budget for is medical costs as many of these costs are not recurring every month and can vary widely depending on the shots being administered, the procedure being done, and the health status of the pet. The only way to ensure you are paying a relatively consistent amount for the health of your pet is to get a pet insurance plan. With a pet insurance plan pet owners simply pay monthly premiums which gains them the coverage and need to meet a set deductible. For the most consistent plans this deductible should be renewed on an annual basis as opposed to a per visit basis. This ensures that no matter the health of the dog, owners will pay the same amount or less year after year. Below are 3 reasons you need to get pet insurance as a pet owner.
Scheduled Vet Visits
Good pet insurance policies will often include the annual vet visits of pets. As a pet owner this is a large plus because it takes away the barrier of having to pay more money to ensure your pet is healthy. Since the cost of the visit is intertwined with your monthly premium payments it makes it much easier for owners to justify going to the vet office even when there might be no physical signs of illness in their dog. With these annual visits veterinarians are able to ensure the pet is up to date on their vaccinations and that the pet is free of any illness. Many illnesses in pets can be overlooked as pets are unable to communicate when they are feeling unwell or when something feels off. Veterinarians are trained in screening for illnesses and are often able to start providing treatments immediately. Annual visits make it less likely that a dog will suffer from severe illness as they are checked on a regular basis for the early signs of disease. Early detection allows for early intervention and the avoidance of more severe disease states.
Hefty Vet Bills
For a pet owner, the most advantageous reason to consider pet insurance is to avoid having to pay the hefty veterinary bills that can be associated with some procedures and diagnostic tests and imaging. A trip to the emergency veterinary clinic can easily rack up a bill well over one thousand dollars. Many people are not prepared for these pet emergencies and have to pull from their own personal savings to simply pay for these services. The main purpose of insurance in general is to protect you from these unforeseen costs. With insurance premiums the customer is paying for the insurance company to take on the responsibility of paying for these hefty unforeseen bills if they occur. Getting pet insurance when your dog is healthy is the best way to ensure that you will be covered in the event of an emergency. Having an insurance plan during these emergent events allows owners to focus more on caring for their dog and less about whether they can afford to have the dog treated. This greatly reduces the risk of owners having to give pets up for adoption due to monetary budgets.
Pets that require medications due to chronic illness can get quite expensive over time. Illnesses like arthritis, cancer, and diabetes for pets are treatable but require expensive medications to treat. For diseases like diabetes these medications will be continuously needed throughout the pets life and consistently paying for these medications can get expensive. Pet insurance as described above ensures you will not have to pay any more than previous years in the case a pet develops diseases that need expensive and regular drugs and medications. Not all insurances cover these medications and prescriptions so it is important to do research beforehand to determine what pet insurance will have these costs covered under the policy.
Overall pet owners should really consider adding a pet insurance policy plan for their pets. Not only does this policy protect against unforeseen costs but the insurance plan actually promotes a healthier lifestyle by providing annual examinations which is a great way to prevent more costly health issues. Pet insurance decreases the cost barrier of taking your pet to annual check ups, protects the pet owner from very expensive veterinary bills in the case of a medical emergency, and protects the pet owners wallet when their pet requires expensive and necessary prescribed medications. Pet insurance is a way to be proactive as a pet owner against the unknown and to pay a consistent and budgetable amount to keep your pet happy and healthy.
George is the CEO of Expat Group Limited, based in Hong Kong.