When planning a budget for pet care, people often think about regular costs like food and routine check-ups. However, they tend to overlook unexpected medical expenses until their pet becomes ill or injured. Unfortunately, about a third of Americans don’t have emergency savings, which leaves them with a tough choice of either paying high medical bills out of pocket or compromising their pet’s care. This is where pet medical insurance, such as Trupanion, comes in handy, helping to manage steep medical costs and avoiding tough decisions.
Here are five more reasons to consider pet medical insurance:
– Easier Payment Plans: Pet insurance helps manage finances better. Ordinary injuries or sickness can be costly, draining savings or disrupting your monthly budget. It’s easier to handle a monthly insurance payment of around $40 than to come up with a large sum for emergency treatments suddenly.
– Ongoing Support Throughout Your Pet’s Life: Pet insurance works similarly to human health insurance by reducing financial stress over your pet’s lifetime. All vets accept pet insurance, so you don’t have to worry about provider networks. However, note that pre-existing conditions aren’t covered, so enrolling your pet early provides the most benefit.
– Avoid Paying Large Medical Bills Upfront: Insurance plans can help you avoid paying the total amount upfront before reimbursement. With companies like Trupanion, vets get paid directly, leaving you only 10% of approved procedures to cover.
– Various Plans to Fit Your Needs: There are many types of pet insurance. It’s important to understand what each plan offers to find the best fit for you. Deciphering insurance plans can be challenging, but resources such as Trupanion’s ABCs of Pet Insurance and the Pet Insurance Comparison Chart can help clear things up.
– Preparedness for the Unforeseen: While pet owners hope their pets will remain healthy, unexpected issues can arise. Regular vet check-ups are predictable, but with pet medical insurance, you have assurance that you can take care of your pet’s health and happiness in the long run.