Reading Time: 3 minutes Why Get Pet Insurance?
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Being a pet owner comes with a set of responsibilities that you sign up for the day you bring your new pet home. You know that they will require food, love, and training. What you might not realize is that they will also have health needs to be taken care of throughout their life.
Those health needs are expensive and the timing is tough to predict.
Dogs are curious animals by nature, and can therefore get into a lot of trouble if they are left to explore their surroundings. Dogs are not immune to Illnesses and diseases.
Table of Contents
Why Get Pet Insurance?
The main reason to get pet insurance is to protect your pet from unexpected health issues. Getting pet insurance also allows you to make decisions around your pet’s medical condition instead of around finances.
Below are five more reasons to get decent pet insurance for your furry friend.
Peace of Mind
Much like every other type of insurance, pet insurance will afford you peace of mind as a pet owner. Accidents and illnesses often strike when you least expect them and are not prepared to deal with the financial implications.
Having pet insurance means that you can take your beloved animal to the vet at the first sign of sickness or injury, instead of leaving them to suffer until you’ve raised enough money to get them the care that they deserve.
Money-Saving
Veterinary bills can be anything from 500 to 3000 dollars, depending on the treatment that they need. Inflation and the cost of developing drugs and medical technologies for animals can come at an astronomical fee.
Instead of using your emergency fund or racking up thousands of dollars in loans, the correct pet insurance will only cost you your monthly subscription fee. Your furry friend can live a long and happy life with the best insurance package.
Flexible Package Options
Most pet insurance companies offer flexible package options to suit your pet and your budget. You can choose from an annual maximum package, reimbursement percentages, or a monthly deductible for any service your pet may need.
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The high-end packages cover everything from exams and surgeries to treatment for breed-specific conditions. Research the best pet insurance plans to cover your four-legged friend.
Liability Coverage
Most pet owners know that dogs can be destructive, particularly certain hyperactive breeds. If your dog likes to run around and destroy your neighbor’s property and garden, you will need a pet insurance policy that covers third party liabilities.
That means that if your dog damages someone else’s property, or takes a nip at the mailman, you’ll get your expenses refunded to you by your insurance company. Sit back and relax, knowing that your furry friend won’t hurt your bank balance.
Easy To Use
Most pet insurance companies have a simple claim filing process. Most of them allowing you to submit your claims online in just a few minutes.
The standard procedure is to submit your claim with your receipt from the vet. That way your insurance company can reimburse you through direct deposit.
Most claims are processed and paid out within a week or two of being accepted.
In Conclusion
Being a pet owner comes with responsibilities. One of these is ensuring that your beloved animal will have access to quality medical care, should the need arise. By getting quality pet insurance you can save time and money and get your furry companion back to normal in next to no time.
Greg is a Chartered Financial Analyst (CFA) with 22+ years experience in Financial Services. He has held numerous FINRA Securities licenses (series 7, 63, 65, and 66), and is an expert on Investment Products and Financial Planning. Greg has 22+ years experience as a real estate investor and degrees in Psychology and Philosophy.
Greg has been quoted/interviewed in Yahoo Money, Yahoo Finance, USA Today, Authority Magazine, Realtor.com, Business Insider, and others.
Greg is an avid runner, and the father to identical twin girls and their awesome brother. His love of budgeting and his kids led him to join The Great Resignation in 2021.
Disclaimer: Any Financial Tips on ChaChingQueen are general and informational. Speak with a professional about your specific situation.