Most people who have pets don’t really think of them as just pets. For them, a beloved dog or cat is a member of the family. Anyone who has spent much time as a pet owner knows how quickly things can potentially turn from joy to despair when the pet is injured or becomes ill. Today’s veterinary costs are often prohibitively expensive. The harsh reality is that there are times when a pet owner has no choice but to put their best friend down, not because there is no hope of recovery, but because the prescribed course of treatment is too expensive. This is a nightmare scenario for anyone who loves their pet. The good news is that pet insurance allows many individuals to access treatments for their pets that they otherwise wouldn’t be able to afford. That’s precisely why having a policy is so important. That said, it’s crucial to know what pet insurance actually covers and how much it costs, all of which will be discussed herein.

Why Is Pet Insurance Important?

In short, it’s important because it could be the difference between getting an injured or ill pet treated or being forced to say goodbye, as previously mentioned. This may sound rather dramatic, but it should be taken seriously. A pet that has been struck by an automobile may require surgery as well as a long stay at a pet hospital. These costs add up very quickly. Even if the injury is fairly easy to repair, the cost could range anywhere from $600 to several thousand dollars. The truth is that most people simply don’t have enough money in savings to handle these types of expenses, especially when they occur with little or no warning. The right pet insurance plan may cover the majority of these costs, depending on the level of coverage selected. In other words, the insurance can save your pet’s life.

What Does Pet Insurance Cover?

Typically, a routine plan covers things like veterinary visits, annual exams and some specialized treatments (depending on coverage level). Most plans also cover surgical procedures or other emergency interventions. Just like car insurance, there are different types of plans available. The most basic options cost the least, but they also provide less coverage. Comprehensive plans are more expensive because they cover more. There are also additional packages that can typically be purchased to cover specific things like cancer. The exact coverage available will largely depend on the company providing the coverage and the selected policy.

Pet Insurance Costs

Of course, it’s imperative to have a good idea of how much this type of coverage is likely to cost in order to make an informed decision. There are usually three things that influence the cost of a pet insurance policy. The breed and age of the pet as well as coverage type are the two biggest factors. The cost also differs by location. There are some policies for cat owners that can be had for around $6 a month for the most basic coverage. The cost is usually a little higher for dog owners, approximately $10 a month. For more comprehensive coverage, most people pay somewhere in the neighborhood of $40 to $60 on a monthly basis. It’s important to remember that there are also other costs associated with pet insurance. Just like a health insurance policy for a person, there is usually a co-pay involved for each veterinary visit. The cost involved will depend on the type of policy selected. In addition, there may be some services that aren’t covered at all or are only partially covered, depending on coverage level. It’s also worth remembering that some policies cover prescribed medications while others do not.

Conclusion

All of this may seem a bit overwhelming at first. As previously mentioned, shopping for a good pet insurance policy is not really all that different from shopping for health insurance. Your first step should be to contact your veterinarian and find out which brands of pet insurance are accepted. It’s likely that he or she can also provide you with some important background information on the best pet insurance companies to use. You might even gain some valuable insight about choosing the right policy for your pet’s needs. At the end of the day, you want something that will fit into your budget and provide you with peace of mind. That’s why you should carefully weigh your options and ensure that you choose the correct type of policy. Both your pet’s life and your financial health could depend on it.