Pet Insurance–Should You Purchase It?

There is nothing more important than having our dogs stay healthy and live long lives.  We exercise them, train them and take them to the vet every year for an annual check-up. 
If your dog gets sick or hurt, you would want to give your dog the best possible treatment and care—this is why pet insurance is so important! 
Pet Insurance for dogs
Pet insurance is a policy that will cover any injury, accident or illness that your dog might have.  If your pup gets really sick or hurt, pet insurance will allow you to get your dog the best care possible. 
Most pet insurance plans will pay up to 90% of the vet bill, which means huge savings! The cost of treatment today is very expensive. Pet insurance will not only pay for the treatment, but could also cover the other testing that goes with it. 
By the way, it’s important to note that pet insurance usually doesn’t cover pre-existing conditions or illnesses so it’s always a good idea to insure your dogs while they are young. 
How Pet Insurance Works/Different Types of Coverage
There are three different kinds of coverage: 
#1 Comprehensive Pet Insurance
Comprehensive pet insurance is the most all-inclusive of the plans. Comprehensive plans include coverage for all injuries, accidents, diabetes, chronic allergies and almost all other incidents or illnesses that your pet might encounter. 
#2 Accident Only Pet Insurance
Accident only pet insurance, as the name implies, covers only accidents (including swallowed objects). These are usually the most affordable policies and will cover your pet for all manner of incidents, like getting bit by other animals or getting poisoned. It’s important to highlight that these policies do not cover illnesses or diseases. 
#3 Wellness Pet Insurance
Wellness pet insurance is coverage for routine and preventative-care visits and procedures like vaccines, spaying/neutering and some dental care. 

Benefit Limits
Benefit limits are the amount that each pet insurance company will pay out each year. This is an important factor because you want don’t want to hit a cap on your vet bills. 
Some pet insurance companies offer unlimited benefits, which is always the best, because you don’t have to worry about ever reaching a limit if your dog gets really sick or hurt. 
Deductibles and Reimbursement
A deductible is the amount you first pay on each vet bill before the pet insurance company pays you back. The annual deductible is a one-time payment each year. 
When it comes to reimbursements, you can usually choose a reimbursement rate from 65% to 90% of the vet bill.  If you go for the higher end, you will most likely have to pay a higher premium. 
Certain Dog Breeds That Benefit from Pet Insurance
While some dogs might not need it, there are certain dog breeds that are pre-disposed to some genetic conditions and most of these conditions are expensive to treat. 
For example, German Shepherds and Labradors tend to have elbow and hip issues and hip surgery can be very expensive.  
Pugs are known to have breathing issues that can lead to surgery. 
In these instances, pet insurance can be very valuable and even a necessity. 
Your vet is always a good resource to find out what conditions or illness could occur with your specific pet and breed. 
Should You Purchase Pet Insurance?
Pet insurance is extremely helpful if your pet has a serious accident or injury. It could literally save their life, allowing you to pay for necessary treatments or surgeries that you might not be able to afford without it. 
With a cost ranging from $75 to $200 a month, it could be a good investment in the long-run even though there might be some years where your dog is healthy all year long and you feel like you are paying for something that you might not need. It will also grant you peace of mind to know that you can always pay for any major medical bill for the treatment that could save your pet’s life. 

For more information about pet insurance, check out this in-depth guide from Consumers Advocate:

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