Why Pet Insurance Is a Must-Have: The Rising Costs of Vet Care

Veterinary care costs have skyrocketed due to increased demand and rising expenses for equipment, medications, and skilled staff. Routine checkups, emergency treatments, and specialized procedures can add up quickly, leaving pet owners with hefty bills. Without a dedicated savings fund, unexpected veterinary expenses can become overwhelming. Pet insurance provides financial security, allowing you to focus on your pet’s health rather than worrying about costs. But is it worth it for your pet? Let’s break down why pet insurance is essential and how it can help you plan for both routine and emergency care.

Does My Pet Need Insurance?

Veterinary costs are higher than ever, along with everything else. The cost of a veterinary education is now $300,000 to $400,00. Many veterinary hospitals are owned by corporations now that have greatly increased their prices because of demand and increased prices of doing business including: equipment, medications, lab work, radiology, employee salaries, and mortgages or rental for buildings have all increased. 

Simply put:

• If you have a dog and don’t have a $20,000 savings fund for them, you need pet insurance.
• If you have a cat and don’t have a $10,000 savings fund for them, you need pet insurance.

Let’s Say Your Animal Is Perfectly Healthy

An annual wellness visit (exam, vaccines, fecal, dewormer, and flea control) costs around $150-$400 (flea control is the most expensive part of that visit)

Let’s say your animal is very sick:

An emergency visit (exam, fecal, bloodwork, x rays, IV fluids, Ultrasound, hospitalization, technician care, repeat veterinary exams, treatment for illness) can cost around $6000-$20,000 especially if you need a specialist (cardiac, internal medicine, orthopedic surgery, ophthalmology, etc.) 

Pet insurance premiums cost between $10-$150 and will likely be rising soon. Insurance for cats typically costs less than for dogs, and you can choose between plans that offer accident, illness, or wellness coverage.

I am a veterinarian, and I have insurance for my dog which is $70/month for catastrophic events. Personally, I feel so much better with the insurance knowing that insurance covers most of the expenses for his care. 

I cannot provide emergency care for my own dog because I don’t have staff or the equipment so I would need to take him to an emergency room. 

Pet Insurance: Wellness or Emergency Care or Both?

If you have a totally indoor cat that has received several vaccinations and that you exercise and don’t let become obese (diabetic), you might be able to get away without insurance. Otherwise, you will need to pay for wellness care and emergency care for the life of your animal and that is expensive. 

Pet insurance can help cover the cost of unplanned vet bills related to accidents, injuries, and illnesses, which can be expensive. You are essentially budgeting for pet care by providing a predictable monthly or annual premium instead of facing large, unexpected bills. Pet insurance can help prevent you from wiping out your savings or using credit cards to pay for vet bills. 

It allows you to choose the best medical options for your pet without financial constraints. Knowing you can afford necessary veterinary care can provide peace of mind, especially in emergency situations. 

Coverage and Benefits:

1. Comprehensive Coverage:

Many policies cover a wide range of medical conditions, including accidents, illnesses, and some even cover routine care or wellness plans. 

2. Reimbursement:

Pet insurance policies might reimburse part of the cost of veterinary care after you meet the deductible, helping to offset expenses. 

3. Specific Coverage:

Some policies cover specific costs like surgery, medications, diagnostic tests, and even emergency care. 

4. Additional Benefits:

Some policies offer additional benefits, such as coverage for lost or stolen pets, or even for damage caused by your pet. 

Things to Consider:

1. Be sure to compare premiums and deductibles across different policies to find one that fits your budget and needs. 
2. Some policies have annual or lifetime coverage limits, so it’s important to understand the limitations of your policy. 
3. Many policies have waiting periods before coverage for certain conditions or procedures begins. 
4. Some policies may not cover pre-existing conditions, so study carefully the exclusions in your policy. 

Want to know more? https://vetpettelehealth.com for online consultations about the ways to keep your pet healthy and safe.