If you treat your pets like family, you will do anything and everything to ensure they are healthy, safe, and happy. At times, this may become difficult if there is an unexpected illness or an unfortunate accident.
Like your human family, you can purchase insurance to protect your four-legged friends. Pet insurance can cover the basics, like yearly checkups and vaccinations, to car accidents and lifetime illnesses. A low monthly payment helps pet families afford the care their beloved animal needs.
Here are 7 popular myths about pet insurance and the truth about coverage.
1. I Don’t Need Insurance as My Pet Is Healthy and Young
Just like human babies, they grow older. Kittens and puppies can be a handful and can develop different diseases in the blink of an eye. Enrolling your new furbaby in an insurance plan the day they are adopted is the idea to avoid any pre-existing conditions.
As with humans, payments for pet insurance changes over the years. Sometimes this means a saving to you, other times it may mean spending more money. But your four-legged family member is just that, a family member and worth the cost to help them when they need it most.
2. Pet Insurance Is Not Worth the Money
Like auto and health insurance, pet insurance is peace of mind and worth the nominal monthly fee. You hope you will never need to use auto insurance, and you might not, but you will always use health insurance. This is true for pet health insurance. There will come a time, sooner rather than later, that your pet needs something. And vet care is typically expensive.
As a bonus, you will receive deep discounts on yearly checkups and vaccinations. Also, a small monthly premium is easier to budget than a large sum if something were to happen to your pet.
3. I Can Save For My Pet’s Needs
Many families believe they can save up enough money to cover a pet’s needs.
However, the unforeseen seems to happen at the most inconvenient time. Your beloved animal may be in an accident at the same time something major in your house breaks.
You can never plan enough for the unexpected, which is why having pet insurance is a good idea, for both you and your pet.
One thing to keep in mind, pet insurance is not like human life insurance. You will not be able to borrow against the paid premiums or keep, money in an escrow account. Insurance for your pet is more like auto insurance rather than life insurance. It is something you have as a “just in case” and hope you never need it.
4. The Coverage Won’t Be Enough
This is a big myth because there are many different levels of coverage. You can choose how much coverage you think your dog or cat will need, based on your lifestyle and the animal’s personality. A dog who is older and more sedate, would not need as much coverage as a younger, active dog. There are also policies that allow you to add coverage at the last minute due to an accident or special riders to cover something unanticipated.
Just be careful to read the policy to make sure something last minute is not considered “pre-existing” and therefore rendering the coverage null and void.
Another stipulation to be on the lookout for is “breed disqualifications”. This means an insurance company can take all but a certain breed of animal.
Regardless of your pet’s temperament and how well trained he or she is, if they are of a certain breed, the insurance company can deny them coverage.
If the company is reputable, they will have a toll-free phone number staffed with experts to answer any and all your questions. You may even ask your regular insurance salesperson to see if they know anything about pet insurance. You would be surprised how many insurance salespersons are branching out to include coverage for your beloved pets.
5. We Can’t See Our Vet
Some pet insurance companies insist you see their providers. There are other plans that allow you to see your own vet at a discounted rate. There are also lists of emergency animal hospitals that take certain pet insurance over other brands.
You can obtain a list of veterinarians and specialists before signing up with your choice of pet insurance companies. Chances are high that your longtime vet is on the list of acceptable animal doctors.
6. Submitting Claims is a Hassle
Why would you let a little paperwork stop you from providing the best, least expensive care for your beloved furry family member? You wouldn’t.
Most pet insurance companies have a streamlined process when it comes to filling out incident reports and claims. Most, if not all, the approved animal doctors have an insurance specialist in their office to help with claim forms. Just as with human doctors’ offices, there is always someone who oversees helping patients with their insurance questions.
There are also companies that have their own phone apps to help make the process of submitting a claim on your pet’s accident or illness as easy as possible.
7. Insurance Covers Everything
Obtaining pet insurance can be a little daunting when it comes to coverage. Not all policies cover all illnesses, accidents, and pre-existing conditions.
Be sure to carefully read everything in your pet insurance policy before signing it. Naturally, the more expensive the monthly premiums, the more coverage you are going to get.
There are so many options available for covering your dog, cat, or other domestic animals with insurance. It pays to shop around and get the best price for your type of four-legged family member.
Just like human insurance, there are some very good companies and some bad companies. It is best to do your research and make an informed decision. Call and speak with your preferred animal doctor to make sure they accept the insurance you are thinking of purchasing.