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What are the pros and cons of pet insurance?

Choosing a pet insurance most often depends upon your needs and cost. There are pros and cons to consider in making your decision with the first pro being the option to care for your animal in the face of an emergency. There are a variety of insurance companies, policies and coverage options. Some will cover unexpected medical issues as well as annual checkups and immunizations. Of course, the more coverage you get, the higher the premium. The younger the animal, the lower your premiums will be. If your pet is healthy at the time of signing up for the insurance, you have no problem qualifying for coverage. Some policies will let you choose your own vet and some may not. If you can, you can choose extended care for your pet such as dental care and accidental death. 

Cons you might think about are the cost of treatments vs. the cost of insurance. Some insurance policies have maximum benefit amounts so you need to consider that when choosing. It is a con when faced with choosing a vet that you are unsure of. Some policies will not let you use your own doctor. Also consider the fact that some policies require pre-authorization before treatment – which can mean the life of your pet in an emergency. Be leery of the policies that require a physical and do not allow pre-existing conditions such as flea problems, past injuries, chronic ailments and oral hygiene. A select few companies will not cover older pets. Read all the fine print before choosing your policy. Most pet insurance companies require out-of-pocket and deductibles. Make sure there are no penalties for cancelling a policy at any time.

Having a pet insurance policy for your animal can give you peace of mind. If you can afford a policy for the health of your animal, it is a good choice and safety net in the event of an emergency.