Is Pet Insurance Worth it?

Is Pet Insurance Worth It?

If you ask is pet insurance worth it, the answer is a big yes, but you should know what you are paying for and getting in return. Some insurance plans don’t provide you much and are only for an emergency. They will not help you with routine checkups and periodical vet visits. 

How to make your pet insurance worth the cost?

Your pet is a family member, and getting insurance is the most logical and obvious thing. But you must do some homework to make it worth the cost. You must know the insurance plans and compare the price with the coverage. 

Pet Insurance Coverage plans

Pet insurance plane has a list of different scenarios and conditions which you must read carefully before buying one for your pet:

1. Wellness

This coverage plans cares for the routine work and preventive care and includes the following:

 Routine checkups
 Vaccinations
 Dental works
 Regular tests
2. Accident

This plan provides cover for some severe conditions like:

 Poisoning 
 Swallowing foreign object
 Hit by a car
 Physical injuries
 Cuts
3. Accident and Illness

This plan is the blend of accident cover, and wellness cover which usually offers:

 Diseases
 Checkups
 Accidents
 Poisoning 
 Routine checkups 
 Tests and procedures 

Coverage and Cost comparison 

Different variables like your pet‘s age, breed, and the issue itself play a dramatic role in the cost and coverage paradigm. But the basic comparison of common variables will help you deiced is pet insurance worth it or not:

Wellness Coverage vs. Cost

Routine checkups and vet visits under the wellness coverage plan mostly cost $100 to $300 a year. The wellness coverage plan will cost you about $250 to $350 per annum. 

Because of this simple calculation, vets and experts do not recommend you to go for a wellness insurance plan. 

Accident Coverage vs. Cost

An accidental coverage usually costs $150 to $250 a year. But one-time surgery to remove the swollen object can cost a minimum of $1000. The pace of mind of this coverage is way more than the cost, and experts advise pet owners to have this insurance. 

Accident and Illness Coverage vs. Cost

If your pet hasn’t suffered any injury or issue, the $600 insurance for a dog and $350 for a cat per year is huge. But in the case of cancer and other severe diseases, the coverage of $3000 to $5000 is a game-changer. 

Over to you

You must read the plan carefully and choose your option according to your pet’s condition and by comparing the cost and coverage. Alternatives to pet insurance plans are:

 Self-funding 
 Friend and family support
 Social media campaigns