Pet insurance, or veterinary health insurance, helps cover the cost of veterinary care to keep your pets healthy. Most importantly, the right insurance plan can buy you priceless peace of mind. Pet parents who have insurance can go to the vet in confidence and get their pets the treatment they need without having to worry as much about the costs.
On a month-to-month basis, pet insurance works just like human health insurance. You’ll pay a monthly premium to your insurer for coverage. You’ll also receive a detailed description of which conditions are covered and how much coverage you have in each instance. Coverage is usually calculated by a percentage of the cost of the treatment, for which you will be reimbursed by your insurer.
Why do you need pet insurance?
Anyone who owns a pet should consider pet insurance. While it may be tempting to avoid the monthly costs while your pet is still young and relatively healthy, you can never anticipate what might happen as they grow older. Some conditions can develop rapidly, and accidents happen.
Healthcare costs are rising across the board, and pet healthcare is no exception. According to insurance companies, the average amount that someone can afford for treatment at any one given moment is only $1,500. As a result of expensive treatment costs, veterinarians have difficult conversations with pet owners about the cost of care too often - between five and ten times per day.