Is Pet Insurance Worth It?

Do you have a pet?  How much are you spending on your pet's health?  Do you need a pet insurance?  I will share a few tips here regarding pet insurance.

Q. Who Needs Pet Insurance
A. I think the following two types of owners should consider a pet insurance:

• Owners with a pet that has a high risk of getting sick or hurt and owners with less disposable income to cover expensive surgery and treatment.
  
• Owners who consider their pets as part of the family, and not make a financial decision about their pets' health.

Q. What typs of insurance I should consider?
A. There are three main types of pet insurance:

• Accidents only - average monthly premium of $10-20 for dogs, lower for cats
• Accidents and illnesses: $30-40 on average
• Wellness (vaccinations and checkups) plus accidents and illness - $60-75 per month, on average.

Regardless which tier, most plans reimburse 80% of vet bills, with the owners co-pay 20% and deductibles usually start at $100.

Q. What if I don't plan to purchase pet insurance?
A.  You should at least get an insurance for the first year of the pet, after that, most shots should have been done, and you can shop around to get the other required shots done.

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