Whether you have a dog, cat or lizard, you likely consider it to be a part of the family. Therefore, you will want to make sure that it gets the best possible care if it gets sick or injured. One way to ensure that you can provide good care for your animals is to buy a pet insurance policy. However, is it something that you truly need to spend money on?
Why You Should Get Pet Insurance
You never know when your pet could suddenly become lethargic or start showing symptoms of a serious illness. A pet insurance policy will likely cover most or all of the cost of diagnostic tests or emergency surgery. This type of policy could also pay for routine vet exams and dental procedures that can spot health problems before they spiral out of control.
Your insurance might even help pets when you die. According to Tryon Investments, some life insurance policies allow you to leave money for your pets to pay for their food, healthcare, and another home for them.
The Cons of Buying Pet Insurance
According to Rent.com, there are many different reasons why you might not want to purchase a pet insurance policy. For instance, there may not be enough money in your budget to pay for something that you might not use on a regular basis. Depending on the type of animal that you have, there may be a lower risk of it developing health issues such as cancer or joint pain.
Animals that stay inside or that don’t eat a lot may be at a lower risk of ingesting foreign objects that could cause pain or other problems without warning. Finally, you are still responsible for paying the bill upfront before it is sent to the insurance company. Therefore, it could take weeks before you get reimbursed for the cost of care.
The Alternatives
Instead of buying an insurance policy, you could just put a few dollars a week into a pet care fund. According to the American Veterinary Medical Association, it is also possible to apply for financing options like a CareCredit account or take advantage of pet charities if you can’t afford to pay cash for a pet’s routine or emergency care needs. Home equity, personal or other types of loans may also help pay for a pet’s medical needs.
Owning a pet means taking care of it from the day it comes into your home until the day it dies. Therefore, it is important that you have a way to pay for its care whether you choose to buy an insurance policy or take out a loan to do so. Find an option that works for you so that both you and your pet can live comfortably.
Here’s another article you might like to read: How to Deal with These 7 Breed-Specific Health Concerns for Dogs