Did you know that the first dog that ever benefited from pet insurance was Lassie from the famous television series? A pet insurance policy was taken out on Lassie in 1982 and ever since then, pet insurance has become a formal option for everyone!
Since it has become widely available, the importance of pet insurance has become invaluable to those who love their pets and consider them another member of the family. But for those who are unsure and want to know more about pet insurance and how it works, we have broken down all the basics:
How Does Pet Insurance Work?
Much like human health insurance, pet insurance consists of monthly premiums, annual deductibles, copayments, and exclusions that all go towards the care of your pet.
Annual deductibles tend to be on the low end, around $100. And most of the time, pet insurance will cover 80 to 90% of your vet bill after the deductible.
But unlike human health insurance, pet insurance won’t cover preexisting conditions. And they may set yearly and lifetime payouts, but they do allow you to choose your veterinarian.
Usually, you must pay for the full vet bill upfront even when you have pet insurance. Then, your pet insurance will reimburse you at a later date. To help cover these upfront costs, you can sign up for care credit to help ensure your pet’s vet bills are paid before your pet insurance reimbursement comes through.
Although, pet insurance reimbursement is usually pretty fast. Most pet insurance providers usually reimburse policyholders within a couple of days.
Just don’t forget that pet insurance isn’t designed for you to profit off of your pet or veterinarians. Pet insurance helps you prevent financial hardships in the event of an unforeseen or catastrophic event.
Pet insurance can really be worth it if and when those times come to pass.
Reasons For Getting Pet Insurance
Pet insurance is so important to have for any pet owner. It protects them from all the things you don’t expect to happen. Because let’s face it: the unexpected happens more often than we like to admit. But with pet insurance, we can ensure our pets will be taken care of no matter what. You won’t even have to worry about the cost of their veterinary care!
Plus, if your pet has insurance, you will probably be more likely to take them to the doctor if they get sick instead of waiting to see if they get better on their own.
Pet insurance is so easy to get, there isn’t a good reason for not having it! There are a bunch of options for pet insurance these days. All you have to do is sign up online and pay your monthly premium.
The best time to get pet insurance is while they are young. This is how they will get the most out of it, especially since this is probably before they will develop any preexisting conditions that pet insurance won’t cover.
And as pets age, they tend to need more, making that pet insurance come in handy! Give them a long, happy and healthy life thanks to pet insurance.
As you can see, the importance of pet insurance is ensuring that your pet will always be cared for even if the unthinkable happens. You may not like thinking about those things, but pet insurance means you will always be prepared to provide the care their need no matter what occurs.
And at the end of the day, this peace of mind is more than worth it.