When it comes to budgeting for pet care, every owner considers day-to-day costs such as food, training and routine checkups, but many pet owners don’t fully understand the effect of unplanned medical costs until after their pet becomes ill or injured. Check out these pet insurance reviews.
Roughly one third of Americans don’t have any form of savings for support in case of emergency, so when their pet gets sick or has an accident, many are faced with the decision to either go into debt or let their pet go without the medical care it needs. Investing in pet medical insurance, such as Trupanion, is an alternative that greatly reduces the financial burden of medical treatment and keeps pet owners from having to make tough decisions.
Here are five more financially beneficial reasons to consider pet medical insurance.
- You Can Keep a Consistent Payment PlanInvesting in pet insurance is a matter of smart budgeting. Even common injuries and illnesses can be costly to treat, which can easily drain a savings account or break a monthly budget. Finding $40 a month or less is more manageable than trying to find thousands of dollars out of pocket for an emergency treatment.
- You Have a Lifetime of SupportLike human medical insurance, pet insurance is intended to relieve the financial burden of medical treatment over the entire lifetime of a pet. One major difference between pet and human medical insurance? All veterinarians accept pet medical insurance so there’s no need to worry about in and out-of-network providers.However, keep in mind that no pet insurance plans currently cover preexisting conditions, so enrolling your pet sooner rather than later is the best way to get the full financial benefit of pet insurance.
- You can avoid paying the full cost of medical bills out-of-pocketWhen you do end up with an unexpected medical bill, you may also be able to find a way to avoid paying for the full cost of care before being reimbursed. For example, Trupanion pays veterinarians directly so consumers are only responsible to pay out of pocket for 10% of approved procedures.
- You can find a plan that fits your lifestyle and budgeting needsJust like other types of insurance, pet insurance has many variations and understanding what each plan has to offer is essential for finding a good fit. Reading through plans can be confusing, but tools like Trupanion’s ABCs of Pet Insurance and this Pet Insurance Comparison Chart can help owners determine plan offerings.
- You Can Prepare for the UnexpectedOwners never want their pets to get sick, but there is no way to know if and when it will happen. Annual wellness checks with your veterinarian are easy to plan and budget for, you know they will take place around the same time each year. Having pet medical insurance gives you peace of mind knowing that you will be able to keep your pet happy and healthy for years to come.