If your answer to the above question is “Yes, of course!†then maybe you too should consider pet insurance!
.jpg)
I’m really not joking with you! According to an article by Meredith Blake from MainStreet.com, pet insurance is only used by less that 1% of pet owners but is becoming more and more popular. You invest a lot of time and a great deal of money into your animals, so why not make sure they are insured as well?
However, pet insurance is not necessarily cheap. A related article on MSN.com explains that this type of coverage can cost between $2,000 – $6,000 over the lifetime of your pet. This seems like a considerable amount of money to me, but then again many people find that it would be worth it in order to keep their cats and dogs healthy.
So, what has changed that is making people re-consider pet insurance? Things with your veterinarians are becoming much more technical and intense. Conditions that would have once been considered fatal for your animal (kidney transplants, etc.) can now be treated and save your pet, but you can guess that these are not cheap procedures!
The American Pet Product Manufacturers Association is expecting Americans to spend about $11 billion dollars on their pets in 2008. That is a HUGE amount of money!
Pet insurance does have its downfalls (like our own health insurance usually does):
1.) Minimal Coverage – Many of the companies only cover cats and dogs. So even if you love all of your pets equally, the likelihood of getting insurance for your beautiful parrot or guinea pig is slim.
2.) Other Things to Consider – The companies have deductibles, co-pays, and caps on the amount of money that you are allowed towards your pet. So even if that major surgery does come along that you need for your beloved pet, sometimes you might still have to put some money towards it (on top of the insurance coverage you are already paying).
3.) Emergencies/Accidents Only - Many people do not use pet insurance to cover every day trips to the vet and prefer to pay for these per visit. Instead they use pet insurance for those unexpected, emergency visits.
4.) Exclusions – Although there are around 10 companies that offer pet insurance, many of these companies do not include theft or death of the pet. This means that even if your pet runs away or gets stolen, you still won’t receive any money in return.
I think there are two very different sides of this story. Some people decide to never have children and instead just love their pets to death; if you are one of these people then I would possibly suggest investing in pet insurance. But be sure to shop around, do your homework, and find one that works best for you.
I am currently in the dog market and obviously pet insurance has its own pros and cons. If you can afford pet insurance then sure, why not? On the other hand, there are millions of pet owners in America that currently do not have pet insurance and their cats and dogs live nice long lives!
Photo: Charlotte Jessen
