Seventy percent of U.S. households own at least one pet. Are you one of them? At Florida Animal Friend, we know you care deeply for your pet and want to provide the best pet care you can. Imagine if something happened to your pet and you had to pay for all of their medical care out of pocket. Or if something happened to more than one pet at the same time. Depending on the illness or injury, the cost could end up in the thousands, if not more. In addition to helping your pet live a long and healthy life by covering things like regular checkups, pet insurance and pet care credit can help protect you from unexpected costs by helping to finance needed surgeries and treatments or reimbursing you for your pet’s medical expenses. Let’s take a look at the benefits of pet insurance and pet care credit and find out why it is important for every pet owner to consider this coverage.
Difference Between Pet Insurance and Pet Care Credit
There are two different options that can help provide financial relief in the event your pet has an accident or illness: pet care credit and pet insurance. But what are they and how do they differ? Let’s take a look.
Pet Care Credit
Pet Care Credit is opening a line of credit that will help you to finance any needs for your pet such as surgery, medical remedies for bites and poisoning, and other things. This is typically something you would want to use only in an emergency since it is much like a credit card. You make regular payments on the balance, which can accrue high interest depending on the provider.
Pet Insurance
Pet insurance is similar to human health insurance in that you pay into it monthly and coverage is available when you need it, whether it be an emergency surgery, treatment for cancer or other illness, or even regular wellness exams and cleanings. Pet insurance carriers determine rates based on the age of your pet. Keep in mind that if your pet has a preexisting condition, it may not be covered. Moreover, most pet insurance carriers work via reimbursement, meaning you need to pay your veterinarian directly and then submit your receipts to the insurance company.
Benefits of Pet Insurance
There are several benefits of pet insurance, including peace of mind, saving money, being able to choose the vet you take your pet to, and more.
Peace of Mind
Having your pet covered with their own health insurance means you no longer have to worry about paying for surgery or other needs if something goes wrong. Different plans and providers are out there to help cover nearly everything from illnesses to accidents. Instead of worrying if you can afford a procedure, treatment or surgery, you’ll be able to relax and give your pet your full attention and love knowing that they’re covered. What could be better than that?
Saves You Money
Pet insurance saves you money when your pet becomes sick or injured, even in the event of an emergency. There is usually a deductible you have to meet first, and after that your insurance plan will cover the cost of any remaining balances.
Choose Your Vet
Just like human health insurance that allows you to choose a doctor you’re comfortable with, you can also choose a vet you love and trust. You can make appointments, too, with any other vet of your choosing – no referrals needed! This is especially helpful if your pet needs something specific that your regular vet doesn’t manage, if your pet needs after-hours emergency care, or if you’re traveling and away from your favorite vet at home. Before selecting a pet insurance plan, check with your veterinarian to see if they accept the plan you have in mind.
Choose Your Plan
Many pet insurance providers offer a range of pet care plans that cover accidents, illnesses and wellness.
Accident Coverage
Accidents can happen at any time and coverage helps to cover the cost of the unexpected. Physical trauma like broken bones, bites, and ingesting something poisonous are common for pets, and the cost to remedy these emergencies, from surgeries to round-the-clock care, can be expensive. Be prepared for when your pet needs you most.
Illness Coverage
Just like humans, pets can have medical illnesses that affect their lives and require regular treatment. From allergies and ear infections to arthritis, cancer and more, making sure your pet has access to medical care so they can live a long, healthy and happy life is every pet parent’s responsibility.
Wellness Coverage
Most pet insurance providers also offer wellness coverage, which helps to cover the cost of regular needs such as annual vet visits, vaccinations, spay/neuter surgery, flea treatments and more. Put the health and safety of your pet first with wellness coverage, and your pet will return to you a lifetime of love and thankfulness.
Are There Any Downsides?
There are many benefits to covering your pet with pet insurance, but there can be downsides, too. Let’s take a look.
Pay Upfront, Get Reimbursed Later
Pet insurance companies require policy holders to pay up front for any pet care services and then request reimbursement from the insurance company later. For those on tight budgets, this may not be feasible. Operating in this way also means that, once you submit the documentation for reimbursement, the insurance company can decide to fully or partially cover the bill – or not.
Increasing Premiums As Your Pet Ages
Your rate is determined by your pet’s age, and as your pet ages so does your rate as your pet becomes more susceptible to illness.
Chronic Illness? Your Pet Could be Dropped from Coverage
If your pet develops a chronic illness that could potentially require multiple vet visits as well as ongoing care and treatment (such as diabetes), the insurance company could drop your pet from coverage or significantly raise your premium. Tip: Look into pet insurance companies that offer continuing coverage.
Where to Find Pet Insurance
Because pets are part of our families, many employers now offer pet insurance as part of annual plans for which employees can sign up. Don’t have a pet insurance option through your employer, or want to check out other plans? Pet insurance is also available from large insurance providers such as All State and Nationwide as well as other companies like Healthy Paws, Trupanion, Pets Best and ASPCA Pet Health Insurance. Find the plan that’s right for you and your pet today.
Your pet is there for you through everything, offering their lifetime of love, cuddles and wet nose kisses. Be there for them when it matters most and give them the pet care they deserve. Pet insurance is only a small price to pay for the coverage and peace of mind it provides you and your pet should they develop an illness or require emergency care. Consider the benefits of pet insurance and cover your pet today.