How Useful is Pet Insurance?

You pay your monthly car insurance, though you have never had an accident. You pay your monthly health insurance though you have never been sick a day in your life. You pay insurance on your home even though you have never filed a claim. Why then should it seem so strange to buy insurance for your cat?

These days, more and more people are purchasing insurance for their pets. Vet bills are rising and pet life expectancies are also getting longer. This means that it is more likely than ever that you pet will one day need costly medical treatment. Though we often say that we will never spend a lot of money on keeping a sick pet alive, when the situation arises, many people find themselves sacrificing to do everything possible for their beloved pets.

Though cats generally enjoy healthy lives up until the day they finally pass away, they are susceptible to several serious diseases. These diseases can appear out of the blue and can become serious quickly. Like humans, getting insurance for a sick cat is often difficult or impossible and will inevitably cost more than insurance for a healthy pet. Premiums for healthy cats can be as little as a couple of dollars per month. Even paying years of these premiums can quickly become worth the cost if your cat is diagnosed with a serious illness.

Insurance for pets is surprisingly similar to that for humans. Many insurers have their own network of health providers. If you have a preferred vet, make sure the insurance plan you are considering will let you use his services. If in doubt, ask your vet what providers he is affiliated with and try to secure a policy with one of them.

Just like with your insurance policy, make sure you understand how deductibles and copayments work. There’s no sense in paying for a premium for years only to find out that it was not worth the expense.

If you have more than one pet, try to find a plan that offers a discount for multiple pets. Often you can secure coverage for several pets for only slightly more than what it costs for one.

If you still aren’t convinced that pet insurance is worth the cost, think back to previous pets and the trips to the vet for which you have paid. If you do the calculations, you should see that one trip to the vet for a serious condition can quickly make several years of premium payments worth the expense. This, along with the peace of mind you will have knowing that your pet will always have the needed medical care they deserve makes pet insurance a worthwhile expenditure.