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Is pet insurance worth it?

Owning a pet brings immense joy, but also a great deal of responsibility and financial burden, not least of which is the cost of medical care when a pet becomes sick or injured. Today, our Davidson County vets examine the costs and benefits of pet health insurance.

Taking On the Responsibility of Pet Parenting

Chances are good that when you decided to adopt a furry family member you thought about all the love and joy they would bring to your life. But, perhaps you neglected to really consider the amount of responsibility that pet parenting entails.

There are the day-to-day responsibilities to consider, such as feeding them a healthy diet, house training and ensuring that they get enough exercise. Then there are the periodic responsibilities like preventive care (regular checkups and vaccines) and boarding if you travel.

But what if your dog or cat becomes sick or injured? Are you financially prepared to cover the costs of emergency treatment for your beloved pet, or ongoing care for a chronic condition? If the idea of these unexpected costs causes your blood pressure to rise, maybe pet insurance is right for you.

How much does pet health insurance cost?

Pet insurance costs vary widely and are greatly influenced by several factors, including:

The type of coverage you choose.

Many insurance companies offer a range of plans to meet the needs of pet parents with different budgets. While less expensive plans may cover all or some of the cost of accidents and illness, more costly plans cover preventive care, dental treatments and more. As a rule, the higher your premium is, the more extensive your pet's coverage is likely to be.

Species and breed of your pet.

On average; cats tend to be less expensive to insure than our canine companions, although that may not always be the case. Extra large and giant breed dogs are typically the most expensive to insure since they are often at increased risk of developing conditions such as osteoarthritis and cranial cruciate ligament injuries, to name just two. Some breeds of cats and dogs also come with an increased risk of disease and typically cost more to insure.

Age of the pet.

With age comes an increased risk of developing a number of health conditions. This is as true for dogs and cats as it is for people. For that reason, insuring older pets tends to cost more. However, insuring your pet from a young age often helps to keep premiums lower. It is also important to note that if your pet has a history of illness the cost of insurance will increase. Many companies will also not provide coverage for conditions your pet already has when they are enrolled.

Where the pet lives.

Veterinary costs vary across the country and can even vary between cities and nearby towns. The cost of your pet's insurance coverage will be influenced by how much veterinary care costs in your area.

What are the benefits of pet insurance?

Many pet parents find that insurance is a huge benefit to them and their pets. Here's why: 

Eases the financial burden of emergency, urgent and long-term care.

Although coverage differs from one policy to another, all policies are designed to help offset the cost of unexpected veterinary bills. This can provide you with the ability to pay for vital treatments or surgeries that may otherwise be beyond your budget.

Peace of mind knowing you can afford urgent care treatment for your furry friend.

Knowing that they have financial assistance if an emergency strikes provides many pet parents with peace of mind, allowing decisions about veterinary care to be based on their pet's well-being rather than financial constraints.

Plans are available to suit different budgets and coverage requirements.

Some pet insurance plans have no deductible, others have a large deductible to reduce the cost of coverage. In some cases, you can find plans that cover only a percentage of the treatment cost, while others will pay for nearly all of the cost. And many insurers offer customizable plans that allow pet parents to choose coverage that best suits their companion's needs.

Should I invest in pet insurance?

Unfortunately, there is no way to know what conditions or injuries your pet may have across their lifetime. But these policies can be beneficial for those people looking for a level of financial security and peace of mind.

While pet insurance does come with a monthly cost, the potential savings during unexpected medical emergencies can make it a worthwhile expense. Ultimately, pet insurance can be a lifeline during challenging times, ensuring that your furry friend receives the best possible care without compromising your financial stability.

Speak to your vet for insights into whether pet insurance may be worth looking into for your dog or cat.

Note: The advice provided in this post is intended for informational purposes and does not constitute medical advice regarding pets. For an accurate diagnosis of your pet's condition, please make an appointment with your vet.

If your pet shows behaviors or symptoms that give you cause for concern, our Davidson County vets are here to help. Contact Thomasville Veterinary Hospital.

New patients always welcome!

Whether you need urgent care for your pet or you're looking for a vet in Davidson County, we welcome you to our family at Thomasville Veterinary Hospital Urgent Care + Surgery.

Referrals may be required for some specialty services. Please contact us to learn more.

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