Many pet owners are torn between enrolling in pet insurance or setting aside a little money each month into a pet-emergency savings fund. Pawlicy Advisor, a leading independent pet insurance marketplace, released a veterinarian’s perspective on “is pet Insurance worth it,” aiming to educate pet owners who want to be able to afford to do what’s best for their pet.
Many pet owners are torn between enrolling in pet insurance or setting aside a little money each month into a pet-emergency savings fund. Pawlicy Advisor, a leading independent pet insurance marketplace, released a veterinarian's perspective on "is pet Insurance worth it," aiming to educate pet owners who want to be able to afford to do what's best for their pet.
"Regular veterinary care, wellness visits, and vaccines aren’t what you need to be concerned with when it comes to your pet’s healthcare costs...The biggest costs come from unexpected emergencies and surgeries," said Dr. William Hodges, DVM. "One fellow veterinarian said he has 5 to 10 difficult discussions per day with pet owners who cannot afford the cost of their animals’ care."
Dog bites, fractures, and foreign object ingestion can cost thousands of dollars to treat. A ligament repair in dogs can cost $3,000 to $7,000, (not including X-rays, anesthesia, and follow-up care). For cats, a urinary obstruction (UO) often requires lab testing, antibiotics, and even surgery, which can cost upwards of $3,000.
Furthermore, when health issues aren't address fully or in a timely manner they can lead to larger ongoing expenses for medication, repeat surgeries, and interest rates on large loans.
Less than 20% of pet parents surveyed, out of more than 20,000+, say they could afford a $5,000 vet expense without pet insurance.
So, what about having a savings account just for pet costs?
Unfortunately your dog or cat will not wait for a time that is convenient for you to need medical help.
Sure, if you're saving $50 per month, you could pay $5,000 or more for a CCL surgery if it occurred in your dog’s 8th year of life. But what happens when issues arise in your pet’s first or second year of life? Or what if there’s more than one emergency in the lifespan of your pet? If you’ve saved just enough to cover the $5,000 CCL surgery, what happens when your pup later develops an eye infection, a cancerous growth, or the other leg needs CCL surgery?
Pet insurance helps hedge the financial risk of owning a pet, and grants peace of mind that no matter what happens you'll be able to afford the care or treatment your pet needs.
What options are there for making vet costs more affordable?
While human insurance usually reimburses doctors and hospitals for the costs of care, a pet insurance plan will reimburse YOU directly. This means there are no networks to worry about. Pet insurance will work at any vet clinic and animal hospital in the USA.
With the right coverage plan, you can provide your pet with diagnostics, treatments, and medications without serious financial risk.
To dive into all the details, check out Pawlicy Advisor's complete article (3300 words), "Is Pet Insurance Worth It? Here's A Veterinarian's Perspective," which can be found at https://www.pawlicy.com/blog/is-pet-insurance-worth-it/.
