From picking us up when we feel low, to giving us a good laugh here and there, pets are extremely important to our lives. To protect their pets and keep them in good health, many folks often prepare pet insurance policies.
But, given the many restrictions and conditions attached to certain policies, other folks question whether pet insurance is really worth it. So, to help you answer this question we’ll provide you with some of the common pros and cons of pet insurance.
As an added bonus, we’ve also taken the liberty of including resources pertaining to pet care, financing, accessories, and other related topics.
The Pros & Cons of Pet Insurance
Pet Insurance Benefits
The biggest benefit offered by having pet insurance is the fact that your pet can be protected against accidents and illnesses. This protection often comes in the form of compensation when it comes to veterinary bills and medications.
On average, a single visit to a veterinarian could cost as much as $100 depending on the services your pet requires. If your animal companion is suddenly diagnosed with a condition, this could easily push the cost of veterinary treatment to somewhere between $200 and $400.
Unlike people, pets are not covered by any of New Zealand’s public healthcare programs and policies. This means that most uninsured pet owners will end up having to pay the full cost of veterinary care out-of-pocket.
By having a proper insurance policy, you could save hundreds of dollars on vet bills which could ultimately go towards other things your pet may need. Beyond this, pet insurance also gives you peace of mind knowing that your pet is entitled to any care they may need.
Pet Insurance Drawbacks
The concept of pet insurance is extremely appealing, but many policies often fall short due to the various restrictions and conditions placed on them. Firstly, much like standard health insurance, pet insurance policies for older pets will always cost more due to higher liabilities.
Following this, there are also policies that do not cover pre-existing health conditions. This means that if your pet has developed a health issue prior to the creation of your policy you will not be entitled to compensation for it.
In the event that you need to take your pet to the veterinary clinic for treatment, many policies will also require you to pay these fees out-of-pocket first, after which you’ll be reimbursed. This can be difficult if you’re living on a budget or trying to save money for other expenses.
While we can never fully guarantee that our pets will stay free of health issues, one good way to help them be healthy is to keep a clean, dust-free home. Beyond this, regular check-ups with a vet may also help them maintain proper health.
Given the various drawbacks associated with certain policies, it’s important to find a pet insurance plan that fully meets your needs. This can be accomplished by enlisting the help of a capable insurance broker.
With the basic pros and cons of pet insurance covered, we hope you’ll have an easier time deciding whether to pick up a policy. From our point of view, as long as you can find the right policy, pet insurance can definitely be worth it.
After all, our pets are like family, and a small investment every year is a small price to pay for their wellbeing.