Pet Insurance - What You Should Know!

Dog laying down

Pets can be quite vulnerable creatures, and they do get into all sorts of mishaps and mischief. Dogs love to explore the outdoors when out for a walk and may dive into a pool of mud or a rocky river. Cats love to explore by themselves and might return home with a couple of scrapes after a nasty scrap. A pet can be just as vulnerable as a human, maybe even more so. Unfortunately, there is another similarity between pets and humans. The cost of veterinary care for a pet can often rival some of the most expensive medical procedures. For instance, fixing a dog's twisted stomach could cost the owner thousands in vet bills. Luckily, there is a way for pet owners to avoid this situation and they can do this by signing up for pet insurance.

What Is Pet Insurance?

Pet insurance provides an extra level of financial protection for pet owners. Rather than paying a fortune each time they go to the vet, pet owners can pay a monthly fee. This fee covers them for any damages, injuries or issues  their pet might have. For the owner, it’s beneficial because it reduces the costs of keeping their animal safe and healthy.

However, it’s beneficial for the pet as well. They are guaranteed the best medical care available, and there is little chance their owner won’t be able to afford to pay the premiums. The monthly payments are designed to be completely manageable and will tend to cost no more than the average household bill. Essentially, pet owners are on a plan that will save them money in the long run. It’s unlikely that a pet will go through their entire life without a medical problem. Certain breeds of dogs are prone to developing different conditions as they age. For instance, labs often have issues with their hips and may require an expensive procedure to cure them.

Pets can even suffer from emotional conditions. If a cat feels neglected or isolated, it will eat its own fur. It will leave bare patches across the skin that can become irritated and infected. A cat in this condition will need a number of visits to the vet to get them back to a good state of health.

There are also other issues to consider that are minor but more frequent. Most animals are at risk from some form of pest or insect such as fleas. With pet insurance, medication is available to prevent this type of issue. 

When Does Pet Insurance Apply?

Depending on the insurance coverage, a pet owner may be able to claim on their insurance whenever they need to. For instance, a pet owner might have trouble with fleas for their dog. They might take their dog to the vet and get treatment, but rather than paying the bill, they can make a claim on their insurance coverage.

Alternately, they might want to make a claim for a more serious condition. In certain scenarios, a pet may need surgery and require general anesthetic. This is typically an expensive procedure and without pet insurance, the owner might not be able to afford it.

Typically, pet owners may pay for smaller treatments and only claim when it’s necessary. By doing this, the insurance premium for their pet stays low, and they will be able to claim for a more expensive issue.

What Is Covered?

Pet owners with insurance will be able to rest easy knowing that their animal is covered for almost all problems. This includes any emergency situation where the pet might need immediate veterinary attention. For instance, if they ate something that could be toxic to them or stepped on a sharp object and cut their paw. They are generally also covered for any existing conditions that might be hereditary. Some breeds of dog are more prone to issues with eyesight than others. Insurance can also cover issues with diet and even alternative forms of medicine.

Cost Of Pet Insurance

The cost of pet insurance can vary. In Canada, the average cost is around $500 per year, which increases or decreases depending on the type of coverage the owner would like. The cost will also be affected by how many times the pet owner makes a claim, as well as the age of the animal. Animals older than ten years are more prone to health conditions and therefore the cost of insurance does rise.

Worth The Bill?

Pet owners might be wondering whether it’s worth getting an insurance plan set up for their animal. On average about half of the owners of cats and dogs in Canada claim that their pets have no health problems at all. Specifically, it’s 58 percent of cat owners and 51 percent for those with a dog. That means that just under half the main pets in Canada do have some form of health issue. That could be diet, oral or even, as already suggested emotional.

It is also important to realize that medical treatment for animals is getting more expensive. Similar to human medicine veterinary treatment is evolving and advancing. In many ways, this is good news. It means that more conditions with animals that were once serious or life threatening can now be treated. However, the cost should not be ignored. Many of these medical procedures are quite involved and can be incredibly expensive. That is why insurance could be so important for pet owners. With pet insurance, pet owners will always be able to guarantee the best medical care for their animal. The fees for this type of treatment become both manageable and affordable. As such, pet owners can stop worrying about how much their pets cost and start enjoying the time they spend with them. Loving and looking after an animal should not cost a fortune. With the right pet insurance plan, it doesn't need to.