Is Pet Insurance Worth the Money?

Cat and dog cuddling and rolling around in the grass

Public opinion over insurance is always in a state of flux, isn’t it? On one hand, some people find it ridiculous to pay thousands of dollars on a premium that could help cover an accident that may never even happen. On the other hand, other people realize that accidents can and do happen, and they would rather have all of their bases covered than not be able to afford help when they need it.

While a majority of our society seems to be on the same page with insurance for our homes, our cars, and ourselves, almost nobody can agree on whether or not pet insurance is worth the price tag. Fewer than 1% of pet owners in the United States have an insurance plan for their pets, and everyone is able to offer up one excuse or another as to why not.

Ask a group of pet owners if they consider their dog or cat a member of their family and they will all more than likely say yes. Ask that same group of pet owners how much they would be willing to spend on their pet’s health, a majority of them will say “whatever it takes.” While these are all uplifting sentiments, the fact of the matter is that a lot of pet owners do have a set limit on how much they are willing to spend on vet bills, especially if their dog or cat is older. If their pet is younger, healthy, and spry, however, a lot of owners insist that insurance is unnecessary because “they have not had health problems before.”

But what if something does happen? The average cost of routine vet visits range between $100-$500 a year. If your pet has suffered an accident, the cost of an emergency visit can be $2,000 or more! Investing in pet insurance grants pet owners a bit more peace of mind in case the unthinkable does happen.

We all know how frustrating and confusing choosing a human insurance plan can be. Every company claims to be the absolute best by using buzzwords and captivating commercials, but a majority of them are a complex maze of information that can be difficult to decipher. Unlike human insurance, pet insurance companies are remarkably straightforward. There are only a few dozen or so companies, the choice of which depends more on your location and type of pet than anything else. Policies are simple and easy to compare, and a lot of them offer no-commitment quotes. If your pet is young or healthy, the cost of a monthly premium can be quite low, and due to how pet insurance works, you would not have to worry about finding a veterinarian that “accepts” your specific plan.

There is one downside to getting insurance for your pet, and that is the reimbursement system. Unlike human insurance, you still have to pay for veterinary services upfront. Afterwards, you file a claim with the insurance company, who will process your claim and send you a reimbursement after the fact. This means that you still have to pay out-of-pocket at the time of the veterinary visit, but the money you spend will be money you get back (minus the deductible and copay up to the limits of your specific policy). This does present you with the question of “Do I have the funds necessary to pay for this emergency vet visit and then wait for the reimbursement from the insurance company?”

There are a lot of pros to signing your pet up for their own insurance, but there are also a few cons, as well. At the end of the day, you have to consider preparing for situations no pet owner would ever want to go through. We all owe it to our pets to at least give it a thought.

Veterinary Services for Pets in Potomac, MD

At Falls Road Veterinary Hospital, we realize that investing in pet insurance can be a complicated decision to make. Whether you are insured or not, of course, you can have peace of mind knowing that our experienced veterinarians will provide your pet with the best medical care that they need. Call today for an appointment at +1 301-983-8400 , or contact us online!

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