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Pet owners love their furry friends, so it’s no surprise that many look into pet insurance to ensure their pets are covered in case of an injury or illness. But is pet insurance worth the cost? We’ll discuss what pet insurance covers and doesn’t cover and how much you should pay.
Cost of Common Pet Procedures with or without Insurance
The cost of common pet procedures can vary greatly depending on the type of procedure being done, your location, and the veterinarian you choose.
For example, a spaying/neutering procedure for a dog can range from $200-$700 without insurance. However, if you have pet insurance, your out-of-pocket costs will typically be much lower.
What Does Pet Insurance Cover
Most pet insurance policies cover accidents, illnesses, emergency care, hospitalization, and more. Depending on your chosen procedure, some insurers may offer coverage for routine care (such as vaccinations or annual checkups) and alternative therapies like acupuncture or physical therapy.
What Does Pet Insurance Not Cover
Most policies will not cover pre-existing conditions or hereditary/congenital issues that your pet may have been born with. Some policies may exclude coverage for certain breeds or animals over a certain age.
Additionally, many policies do not cover routine wellness exams or elective procedures such as teeth cleaning or declawing.
Pet Insurance Deductibles & Reimbursement & Coverage Caps
When considering different pet insurance plans, pay close attention to deductibles and reimbursement amounts. A deductible is an amount you must pay out-of-pocket before your insurer pays anything toward your claim; these deductibles can range from $50 to $1,000 (or more).
Reimbursement amounts indicate how much of each claim your insurer will cover; this percentage usually ranges between 70%-90%. Finally, most policies have a coverage cap—a maximum amount they will reimburse per incident or year—so be aware if there is one in place with your policy and what it is set at.
What Does Pet Insurance Cost
Pet insurance costs vary based on factors including age and breed of animal and the type of coverage you select (basic vs. comprehensive).
Most basic plans start around $25/month, while comprehensive programs can run up to several hundred dollars per month depending on the coverage chosen.
Alternatives to Pet Insurance
Pet owners often consider pet insurance to cover their furry friends in case of injury or illness. The cost of common procedures varies greatly, but pet insurance can lessen the out-of-pocket costs.
Most policies cover accidents, illnesses, emergency care, and hospitalization. However, pre-existing conditions, certain breeds, or the age of animals may not be covered. Deductibles, reimbursement amounts, and coverage caps should be considered when purchasing a policy.
Pet insurance usually costs between $25-$100 per month for basic plans, with more comprehensive projects costing more. Alternatives to pet insurance include CareCredit®, Healthy Paws, and payment plans from veterinarians.
Overall Is Pet Insurance Worth It
Whether or not it makes sense financially for you to purchase a pet insurance policy depends on several factors – how old is your animal? How healthy are they currently? How risky is their breed when it comes to health issues? Are they already showing signs of pre-existing conditions that an insurer would not cover?
Answering these questions will help you decide if purchasing a policy makes sense financially for you and your furry best friend!
List Of The Best And Most Affordable Pet Insurence
At this point, we’ve gone over why having a good pet insurance plan might be beneficial and what things are important when selecting one – now let’s look at some real-world examples!
Here’s a roundup list of the best and most affordable plans available today:
2) Healthy Paws
5) Pets Best
Having the right kind of pet insurance in place can provide peace of mind knowing that if something happens medically with your four-legged family member, they will receive the care they need without breaking the bank – but there’s no one size fits all solution when it comes to picking out a plan – take into account factors such as age/breed/any pre-existing conditions before deciding so that you know exactly what kind of coverage would work best for both yourself and Fido! Be sure to research alternatives such as CareCredit® savings accounts and payment plans offered directly through veterinarians so that all bases are covered should an emergency occur! Good luck!