Apartmentality

An Apartment State Of Mind

Should You Buy Insurance For Your Pets?

A question that most pet owners grapple with is whether to buy insurance for their pet or not. While there’s no one size fits all answer for this inquiry, there are definitely things to consider that will lead you in the right direction. Let’s check out whether you should or shouldn’t purchase insurance for your pet.

Photo by Jamie Street via Unsplash.

Pros

  • You never know if or when your pet could get sick. Not only is it emotionally tough to deal with, but financially big vet bills can definitely set you back. If you don’t have an emergency fund for your pet, you may want to purchase insurance.
  • You don’t like risk. Let’s face it, having no insurance means a big risk. When it comes to pets, chances are sooner or later you’ll need to take them to the vet either for sickness, an accident, or even surgery.
  • Vets are expensive these days. Gone are the days where going to the vet won’t set you back less than $100. And if it’s more than just a check up or shots, you’re looking at bigger bills – especially if your pet needs follow up appointments.

Cons

  • Pet insurance doesn’t cover all costs or services. Make sure you have a clear idea of exactly what your insurance covers. That being said, you still need to submit your claim after the fact to see if you are indeed covered.
  • Insurance doesn’t cover previous illnesses. If you’re getting your insurance after your pet has already been diagnosed or has a recurring illness, chances are you won’t be covered.
  • You still have to pay your bills upfront. Pet insurance is not like regular health insurance for people. Normally there aren’t co-pays and deductibles, and you typically pay all bills upfront, submit your claim, and then are reimbursed for a portion of the bills.

Generally, pet insurance is pretty cheap. If you want to have it on hand just in case, it won’t break the bank. Just be sure to read all the fine print so you know you and your pet will be covered in times of need.

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