Is Pet Insurance Worth It?

April 26, 2016

You love your pets and you want to take care of them the right way. With the vet bills, vaccinations and checkups, you may quickly realize that taking care of your pet’s health also means paying quite a bit of money. To help offset the costs, you may have looked into pet insurance – but is it worth the cost? Many new or first-time pet owners often ponder over the question.

Pet insurance comes in many forms and there are dozens of policies out there for cats, dogs and other varieties of pets.

Thanks to the latest advances in pet medicine, veterinarians can treat a wider range of conditions and diseases, but they all come at a significant cost. That is why pet insurance was created. There are several providers and new types of insurance policies each year that offer more value and better coverage. As a pet parent, you may want to consider the pros and cons of buying insurance for your extended ‘family’.

Pros and Cons of Pet Insurance

There is a low volume of pets actually insured in the United States. This is because most pet owners are unaware of the policies available to them or assume they are not worth it. Before you decide, you should weigh the pros and cons.

Pros of Pet Insurance

  • You can afford more expensive treatment options. From surgery to chemotherapy, you could spend thousands on today’s modern pet treatments. With insurance, your costs will be significantly less, which allows you to invest in improving your pet’s health and possibly prolong their life.
  • You can customize your insurance coverage. Today, insurers let you pick between different deductible amounts and co-insurance options. You can also choose the level of insurance you want; from accident-only to comprehensive coverage.
  • You pay based on risks. Your premiums are based on your pet’s risks; just like humans. So, if your pet is younger and in good health, you will pay less than if you had an older pet.

Cons of Pet Insurance

  • You will pay more than what you get back. Most pet owners will pay more in premiums than what they actually receive back in coverage, especially if you opt for insurance that pays for checkups and preventative care. In some cases, it may be cheaper to just save the money you would pay toward a premium.
  • Some pets are uninsurable. Insurers will not always insure your pet. If your pet is already over 10 years, most insurers will not offer coverage.

The only way to decide if insurance is right for you is to explore your options. Review the coverage offered, premiums involved and assess how often your pet would actually need to use their coverage. Then decide whether it is the right expense for you.

Camano Island Kennels is here to offer advice and assistance with your pet. We offer doggy daycare, grooming, training services as well as boarding. Call us at 360-387-DOGS to learn more about our services or contact us online for a quote.

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