Our pets mean a lot to us and we want them to be as healthy and happy as possible. No one wants to see their pet suffer and we often spend large amounts of money to make sure our pets get the best medical attention possible. Just like human health care, vet bills can quickly rise to unmanageable amounts. One way to hedge against these expenses is to take out a pet health insurance policy.
Illness can occur at any time, and once a problem sets in health insurance will cost much more. A policy taken out when the pet is young and healthy will have premiums much lower than if you had waited until a problem develops. This is no different than human health insurance. Premiums for pets can be as low as a few dollars a month and can be well worth the cost should your pet develop a serious disease of suffer a major injury.
Pet health insurance providers can have policies that allow you to seek care only with certain providers. If you have a preferred vet, make sure that the insurance will allow you to continue using him. Also, be prepared for exclusions for payments of certain pre existing conditions. For this reason, you should take out the policy when the pet is healthy. Also, don’t expect the policy to cover routine care such as vaccinations, spaying and neutering or flea treatments. Pet isnsurance is focused on serious, very costly conditions.
Once you find a company that seems to offer what you need, take some time to familiarize yourself with their copayment and deductibles. Just like with any insurance, lower deductibles often translate into higher premiums and you must way present costs against future claims. Most people prefer to take out a higher deductible to keep the monthly premiums low, but your situation might call for a hedge against higher future expenses.
Consider the possible treatments your pet may need in the future. Next combine several months of premiums along with the deductibles to see whether or not the cost seems reasonable. The lower the risk that your pet will get sick or injured, the lower the overall cost of the insurance would be. If the costs seem excessive, perhaps you would be better off providing your own pet insurance by opening a savings account or money market fund and grow it using the money you would have spent on premiums and deductibles. If your pet never gets sick or injured, you have the money to use for something else. If the pet does require medical attention, you will have the funds to pay for it.
Illness can occur at any time, and once a problem sets in health insurance will cost much more. A policy taken out when the pet is young and healthy will have premiums much lower than if you had waited until a problem develops. This is no different than human health insurance. Premiums for pets can be as low as a few dollars a month and can be well worth the cost should your pet develop a serious disease of suffer a major injury.
Pet health insurance providers can have policies that allow you to seek care only with certain providers. If you have a preferred vet, make sure that the insurance will allow you to continue using him. Also, be prepared for exclusions for payments of certain pre existing conditions. For this reason, you should take out the policy when the pet is healthy. Also, don’t expect the policy to cover routine care such as vaccinations, spaying and neutering or flea treatments. Pet isnsurance is focused on serious, very costly conditions.
Once you find a company that seems to offer what you need, take some time to familiarize yourself with their copayment and deductibles. Just like with any insurance, lower deductibles often translate into higher premiums and you must way present costs against future claims. Most people prefer to take out a higher deductible to keep the monthly premiums low, but your situation might call for a hedge against higher future expenses.
Consider the possible treatments your pet may need in the future. Next combine several months of premiums along with the deductibles to see whether or not the cost seems reasonable. The lower the risk that your pet will get sick or injured, the lower the overall cost of the insurance would be. If the costs seem excessive, perhaps you would be better off providing your own pet insurance by opening a savings account or money market fund and grow it using the money you would have spent on premiums and deductibles. If your pet never gets sick or injured, you have the money to use for something else. If the pet does require medical attention, you will have the funds to pay for it.
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