Is Pet Insurance Worth It For My Family?

Understanding pet insurance.

If you ask us, pets are worth every penny. When they need special care, though, things can really add up quickly. We are thankful that we have the best and most modern veterinary medicine at our disposal, but those advances don’t come without cost. Pet insurance should be a consideration for families that include those with four legs. Read on to answer the question as to whether pet insurance is worthwhile for you.

Understanding Pet Insurance

Pet insurance works a little differently than human health insurance, and so it is important to understand these differences when considering if a policy is a good idea.

Remember that:

  • Payment still needs to be covered–Unlike your doctor who has a whole team dedicated to insurance billing, veterinarians do not have the ability to bill insurance directly This means that you will need to pay your bill at the time of service until you are reimbursed by the insurance company. 
  • Your policy may not cover everything–In pet insurance some breed specific problems or pre-existing conditions may be exempt from coverage. Be sure to read the fine print and ask questions before purchasing.
  • No two policies are alike–There are many options when it comes to pet insurance companies and policies. Some cover routine care while others focus on accidents and illness. Some have an overall deductible, others have a deductible per medical problem. 

Is Pet Insurance Worth It?

There are definitely limitations to pet insurance and they should be considered. But is pet insurance worth it? That is a question that is best answered on an individual basis, but the veterinarians at Harpeth Hills Animal Hospital think that in general, the answer is yes. 

Having a pet insurance policy allows pet owners to:

  • Receive the best possible care for their pets without cutting corners
  • Seek care for their pets earlier in the course of a problem
  • Receive care from a specialists when necessary
  • Not make medical decisions for their pets based on finances

For most people, spending thousands of dollars on cancer treatment, emergency surgery, or extreme illness is not a financial reality. Pet insurance can be a great tool to help eliminate this gap between your desires for your pet’s care and your bank account. 

Choosing Between Pet Insurance Companies

If you think that pet insurance may be a good tool for your family, it is prudent to do some comparisons between pet insurance companies. Consult an online pet insurance comparison tool to look at:

  • Monthly premium
  • Deductibles
  • Coverage exclusions
  • Reimbursement percentage
  • Annual maximums
  • Coverage for wellness and preventative care

The answer to the question “is pet insurance worth it” is almost always yes, but not every policy is a good fit for every family. Pet owners must weigh their financial capabilities, risk tolerance, and care goals for their furry family member when evaluating pet insurance.