Is It Necessary To Buy Pet Insurance? - All About Dental, Pet, Health and Motorcycle Insurance

Is It Necessary To Buy Pet Insurance?

Meta: For some owners, pet insurance is essential when they need to go to health facilities. However, others do not think so. Read our following article to find out what to know about this insurance!

Pet insurance can bring both benefits and disadvantages to you. If your pet has health-related severe problems such as surgery or hospitalization, coverage will have a considerable advantage as the expensive cost will be partially covered by insurance.

Conversely, if your pet is completely healthy during the time you buy insurance, you have wasted a large amount of money.

So, we would like to introduce a few things you need to know to consider if pet insurance will be suitable for you.

6 Things You Have To Know

1. Pet Insurance Is Divided Into Three Types

Most companies split pet insurance into three main categories. Type 1 is the lowest type, useful in cases where your pet has an accident or emergency. For example, your dog is attacked by the other dog on the road or in the park. However, it doesn’t include severe health conditions.

Type 2 specializes in health care and focuses on annual medical examinations such as dental cleaning, flea prevention, and injection.

As you can guess, type 3 includes both services in case the pet owner wants a full-service package. Therefore, this is considered the most expensive package.

It's best to make sure that your pet insurance policy includes the following elements: accidents and illnesses; hereditary, congenital, and chronic conditions; diagnostic tests; emergency care; hospitalization; specialist care; prescription medication; surgery.

2. This insurance can save your pet

Do you not have enough money to pay for medical bills for pets? No problem, pet insurance will help you.

Pet insurance helps to prepare for something unexpected

You can understand that pet insurance will be beneficial in case you are suffering from financial burdens and your pets are also having health problems. Just purchase a small money amount every month, and you won't need to worry if your pet has to be hospitalized.

In other words, the premiums will put your mind at ease.

3. You need to consider the age of your pets before buying insurance 

We recommend that you apply for insurance for your pet when they are healthy and young, this will help you get the best insurance and also the lowest cost. The older your pet is, the more expensive it is.

In fact, pet owners will not register for their pets when they become old. Most of the time, these pets will stay indoors, be well cared for and avoid places that can put them at risk or hurt. Therefore, employers will cut this insurance to save costs.

4. The pet premiums will be influenced by the pet’s breed 

Pet breeds will also affect insurance costs. Why is that? Some breeds are usually more susceptible to genetic diseases or medical problems than other pets, which will undoubtedly make higher insurance costs.

For example, with the Labrador retriever, you'll pay $ 45 per month, but with British bulldog breeds, you'll pay an average of $ 53. Both varieties are expensive to treat because they all have their own genetic problems.

If you want to find a pet that suits your interests, you should consult the premium price table based on the previous breed. It will show you which dog should be avoided.

5. Choose the coverage which is the most suitable for your wallet and your pet 

You need to find an insurance company that can pay the most of the bill. That type of insurance must include genetic or innate conditions and do not have any limitations on how much the company will cover.

Your pets will be happy when being looked after carefully

There are 4 types of limited benefits that we need to consider:

Unlimited lifetime: After you pay your deductible, the company will pay unlimited medical bills for your pet. That is, you only need to pay the deductible, and all your pet's lifetime medical expenses are paid by the insurance company.

Annual maximum: Some companies will limit annual export, for example $ 16,000 / year. It means that when the cost of your pet's health service reaches that limit, the insurance company will not be responsible for reimbursing treatments for that year.

Annual incident: This is the maximum amount that the company will pay for a determined disease (cancer, diabetes, ...) or a specific condition (allergy, infection, ..) of a pet in a year.

Maximum lifetime: This is the maximum amount the company will pay for medical bills throughout the life of the pet. When you reach the maximum limit, the company will not be responsible for your pet even when it is still alive.

6. Pet insurance is run by the reimbursement model

Honestly, you should keep this thing in mind when using pet insurance. Most types of insurance are maintained according to the refund model.

That means you take your pet to the veterinarian for medical treatment and pay the bill first; then you send this bill to the insurance company as evidence to be reimbursed.

So the essential feature in this situation is that you have to get your money as quickly as possible. You need to take precautions carefully with companies that only cut checks to pay for your claim.

It’s easy and convenient

As motor insurance or human life insurance, we have different packages for pet insurance.

Suppliers will offer you several options which respond to specific pet's situation as well as owner's demand.

There are multiple criteria to think about.

For example, the pet needs regular therapies to maintain his life. Or, you just need a package for convenient and affordable medication checks. Or, you prepare insurance because your pet is rare breeds.

Think carefully before deciding

After reading the above information, you must have been able to make your choice, right?

It's best to make sure that your pet insurance policy includes the following elements: accidents and illnesses; hereditary, congenital, and chronic conditions; diagnostic tests; emergency care; hospitalization; specialist care; prescription medication; surgery.

We hope you will have the right and smart choices to save as much as possible.