Top 5 Reasons to Protect Your Pet with Insurance

Updated on August 20, 2023

We frequently forget that one of our best health allies is as close as a tail wag or purr. They have the unique ability to reduce our daily tension and pull us back from the edge of tears.

Our household treats dogs, cats, and other pets as cherished members of the family, thus it goes without saying that we consider them to be members of the human family as well. Many of us read pet food labels carefully to select nutritious options, spend hours searching pet stores for the perfect bed, and take great pleasure in spoiling our pets with a plethora of fun toys. However, only 4% of dog owners and 1% of cat owners have insurance for their pets, according to the most recent Pet Owners Survey conducted by the American Pet Products Association.

Executive Director of the North American Pet Health Insurance Association (NAPHIA) Kristen Lynch says, “It’s confusing that we are a nation so in love with our pets, yet so resistant to accept the concept of pet insurance.”

How prepared, though, will you be financially if a medical emergency should arise with your pet? Carrie Powers, a school counselor in Burke, Virginia, and her husband Bill adopted a Shih Tzu puppy they called Cooper about six years ago. Carrie had to convince Bill to buy a Pets Best Insurance plan for the dog. A normally active dog sat immobile in the driveway in February. Cooper’s vertebral disc burst, the emergency vets said. Emergency surgery saved his life, but he needed weeks of recovery time.

Overall, the bill came to $6,913. Pets Best promptly refunded the Coopers $5,476 after they contacted them about a problem.

Bill Cooper warns that no one should be caught off guard by a veterinary emergency costing more than $7,000. Because of a botched adoption attempt, we were able to get Cooper. He’s so pampered that it’s almost an understatement to call him spoiled. Thankfully, Pets Best was able to solve the problem, and Cooper is acting like his old, energetic self again.

Jack Stephens, DVM, who nearly 30 years ago created the pet insurance industry in the United States and now serves as the CEO of Pets Best, explains why pet owners should consider purchasing insurance:

Permits you to choose your own veterinarian. In contrast to human health insurance, which may force you to see a specific doctor, pet insurance generally allows you to see any licensed veterinarian you like. In order to get your pet’s medical bills covered by insurance, all you have to do is submit them to the company.
Does not have a breed or age restriction on their acceptance policy. Insurance for your pet can be purchased at any time, even years after you’ve adopted them, though doing so sooner will result in lower premiums.
Allows one to relax with confidence. Having pet insurance ensures that you can get your pet the best possible medical care, regardless of how much it will cost your family. After the deductible is met, most pet insurance policies will pay for up to 80% of covered expenses.
Makes it simple to plan for the cost of caring for a pet. Depending on the policy, pet insurance premiums can be paid monthly, quarterly, semiannually, or annually. Whichever method of payment is most convenient for you is your choice. Discounts are available for having multiple pets covered by a plan.
Avoids the need to use the family savings. While it’s possible to put money aside specifically for your pet, it may be difficult to resist the temptation to use that money in the event of a major emergency.
Most importantly, having pet insurance could save and even lengthen your pet’s life in extreme cases like Cooper’s, where he developed cancer and required surgery.

Bill Cooper says, “At first, I was skeptical about getting pet insurance.” Cooper’s disc rupture this year was the first time we had to use our $34 monthly premium. That he cares about us at all is remarkable. I tell my friends who have pets that they should get insurance for them just like they would for their kids. Cooper is our very first pet, and he’s quickly become like a child to us.






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