Factors You Should Consider When Determining If Pet Insurance Is Right For You

22 December 2015
 Categories: , Articles

If you have added a new pet to your household this holiday season, you may be wondering whether you need to purchase pet insurance. Unfortunately, there is no one-size-fits-all answer. While pet insurance may be a great idea for some, it isn't a good fit for others. Here are some of the factors you should consider when determining if pet insurance is ideal for you and your furry friend.

What Your Pet's Breed Is and What Health Conditions They May be Prone To

Certain breeds of dogs and cats are more prone to serious health issues than other breeds. For example, Persian cats are more susceptible to kidney and renal disease, while German shepards are prone to hip dysplasia. Learning about what health factors the breed of pet you get is prone to, and then determining how much those expenses may cost you if your pet gets them, will help you decide if health insurance makes sense for your pet. If the pet you get isn't prone to health issues, or if you can afford to care for the pet if the issues arise, pet insurance may not be needed. However, if the pet you get is prone to many expensive health conditions, pet insurance may make sense.

If Your Veterinarian Offers Any Discount Plans

Before you purchase pet insurance, talk to a veterinarian, such as those found at http://www.1stPetVet.com. Many vets work with these health insurance plans often and they can provide you insight into which ones have good coverage, pay as they should and if it may be beneficial for your breed of pet. In addition to asking their opinion on pet insurance, ask them if they offer any in-office discount plans. Veterinarians may offer a variety of different discount or discount plans to their customers. They may offer a military discount or a multi-pet discount on regular check-ups and grooming if you have more than one pets. Or they may offer discounts if you have more than one service performed at a time, such as having teeth cleaning done during a wellness appointment, or if you pay for multiple treatments at once, such as wellness plans. There are discounts available, which may make veterinarian care cheaper and more affordable than you originally thought. Asking about these discounts will help you to better understand the costs you are looking at for the overall care and well-being of your pet.

How Much Plans Cost, Including Deductibles and Co-Pays

The last factor to consider when determining if pet insurance is right for you is how much the plans cost, including the deductibles and co-pays. Just like with human healthcare insurance, pet insurance can widely range in cost based on what the plan includes, how much the maximum amount of coverage is, who the provider is, what vet networks you can use, whether the plan includes prescriptions and how much your co-pays for vet appointments will be. In some instances, you may find that the cost of the pet insurance is higher than what you can afford to pay. Or you may find that the cost of the plan doesn't make sense based on a high deductible and co-pay amount. You have to carefully weight the cost of everything to determine whether this type of insurance can help you or cost you more than simply paying-out-of-pocket.

Pet health insurance can minimize your out-of-pocket costs if your new pet needs costly veterinarian care. However, while pet insurance is right for some people, it isn't right for everyone. Do your research and compare many factors to help you come to an informed decision about whether purchasing pet insurance makes financial sense for you.