Pet Insurance Predicament & Costly Expenses
For many pet owners, their pet is a part of the family. Some even consider their pet their children. So, naturally, when a little life is so precious to the family, it makes sense to ensure a pet. Just like the rest of the family, pet-parents want their little bundle of joy to be covered, in case there is an accident, or they get sick.
However, even for the most devoted pet-parents, what should be a no-brainer has become a predicament. Due to the following factors, pet parents wonder, is it worth getting the insurance for their pet?
Increasing Rates and Deductibles
Insurance can be expensive and unfortunately, pet insurance is no different. While it is natural for families to want to protect their pets, as their pet ages, their insurance rates increase. Of course, as a pet ages, the higher the chance is of a claim. However, the intense hike of prices begs the question if it is worth the risk. Especially since those high rates often come with high deductibles.
Having to come up with the money to put a pet through surgery in an emergency is difficult. However, even with an accident, often it is less expensive to pay for a solution. Obviously, there are always exceptions. Yet, for the most part, after the lifetime of rates and paying deductibles, the treatment is reasonable compared to insurance.
Benefits are Minimal
Whether the insurance is for pets, family members, a house, or car, knowing what the policy covers is essential. Unfortunately, that is pet insurance is not overly forgiving with coverage. Specific situations are covered, while other common reasons for illness or medical care are not. Sometimes knowing what is covered will not help when your pet is in need. Specifically, sickness is not often covered by pet insurance policies. Therefore, if the pet gets sick owners will still be left with the bill, plus a useless insurance policy.
To close, ultimately, whether to purchase an insurance policy or not is up to the pet parent. Some people like the peace of mind it can bring while others cannot justify the cost. Regardless, the best bet for pet insurance companies would be to make the incentive for policies more appealing. That way, people will be able to justify the purchase better than simply and sometimes misguided peace of mind.