A few years ago pet insurance would have ranked right up there with life insurance for children and dread-disease coverage on our list of policies you don't need. Now, may be not.
As homeowners and parents you may find pets bring life and vibrancy to any household, however, when they become sick or unhealthy, as their owners we take it upon ourselves to pay exuberant rates to ensure their health and well being even if it costs us sometimes more than we can afford.
Vet bills and vaccinations can cost up to hundred or more dollars. The question then that follows: Is getting pet insurance for your loveable companion a worthy investment?
Pet insurance is laced with plans that come in various prices, deductibles, extensions, and limits on claims.
Amardeep Lamba, of U.S. based firm, Farmer's Insurance Group told ANOKHI MEDIA that “The definition of insurance is the equitable transfer of risk of a loss, from one entity to another in exchange for payment. Pet insurance protects you from large, unexpected vet bills. If you are the type of owner who does not want to choose between going into debt or putting your pet down, pet insurance is for you.”
Laura Bennett, CEO of Embrace Pet Insurance, has observed that more than one-third of the pets in Canadian household get sick once in a year. Jessica Calise, marketing manager at Pet Partners also added that the cost of an emergency vet visit could run up to easily $1,000 or more.
The American Veterinary Medical Association estimates that in 2007, 72 million dogs and nearly 82 million cats were kept as pets in the U.S. Yet there were only 850,000 pet insurance policies in effect.
Pet insurance has been available for the last 20 years or so and covers some or most of the bills for the health problems. Owners pay a monthly premium, a deductible for the claim, and some of the medical costs. Thanks to medical advancement, there are many life-saving procedures that the vets can perform and can ensure a longer life for the pets.
Melissa Carlaw, of the Ontario Veterinary Medical Association, recommends ensuring the pet when they are still puppies or kittens before they are diagnosed with conditions that the health insurance may not cover. Each plan varies with the age, breed, species, and location of the pet.
Before choosing a pet insurer, it's important to check the fine print. A wellness option may set yearly allowances for certain services, a dental rider may exclude X-rays or crowns and the deductible may not cover exam fees.
Pet owners should carefully scrutinize plan restrictions related to specific breeds, conditions (such as cancer), or even animal age. Additionally, some providers don't cover costs for weekend emergencies or specialty vets even though their expertise may be necessary.
The Animal Clinic Vet Dr. Matthew Richardson told The Star, “Pet insurance is a great thing to do for most pet owners. When you have something happen to your pet, most people don’t have one, two, three thousand dollars lying around.” He called the pet insurance is an “emerging market” and further said, “It’s getting better as time goes on, but it’s not at the point where one plan is really terrific that everyone should go with. Insurance companies are somewhat like cellphone companies, where everybody offers something slightly different.”
As with different types of insurances, the tolerance of risk plays a major role in choosing the insurance plan. Pet owners should be aware of all the pros and cons before deciding to opt in or out of a plan.
Feature Image: petslady.com
Images & Source: cheapism.com, thestar.com, citynews.ca, dont-be-cruel.org and relativeinsurance.com
COMMENTS
YOU MAY ALSO LIKE
-
Indiaspopup.com Hosts A NYC Power Summit Honouring 5 South Asian Women For IWD 2023
-
Ask Dr. Monica Vermani: Help! My Underage Nephew Expects Me To Buy Booze For Him
-
Warm Up To The Fusion Delights Of Ushna in Dubai
-
Ask Dr. Monica Vermani: My Boyfriend Is Pressuring Me To Attend His Sister's Wedding But I Can't Afford It
-
IWD 2023: 11 Inspirational Quotes From Powerful South Asian Women
-
Ask Dr. Monica Vermani: Help! My In-Laws Are Giving Me The Cold Shoulder
-
7 South Asian Female Fitness Pros Who Will Level Up Your Workouts
-
Why Seattle’s Anti-Caste Law Is An Historic Power Move For Human Rights
-
Ask Dr. Monica Vermani: My Brother Doesn't Think My Aging Mom Should Stop Driving But I Do!
-
Zabardast Serves Up Delish Desi Delights
-
Ask Dr. Monica Vermani: Help! I Need To Move Out Of My Parents' House
-
We Tell You Why Now Is The Perfect Time To Invest
-
5 Ways To Build A Great Relationship With Yourself This Valentine's Day
-
Ask Dr. Monica Vermani: Help! I Can't Stop Shopping!
-
Ask Dr. Monica Vermani: I Can't Say No To People Without Feeling Guilty
-
Let’s Talk … About Your Relationship with You!
-
This Is Why Amsterdam In The Winter Is Simply Wonderful
-
Dear Dr. Monica Vermani Being Back In The Office Is Giving Me Anxiety
-
Indian Afternoon Tea At Bobby's In Leicester UK? Yes Please!
-
Dear Dr. Monica Vermani: Help! My Ex Tells His Friends His Cheating Is My Fault
-
Travel The World With Tamarind Modern Indian Bistro's Global Cuisine
-
Ask Dr. Monica Vermani: Winter Depresses Me, What Do I Do?
-
Ask Dr. Monica Vermani: How Do I Tell My Parents I Don't Want To Go To Business School?
-
Fabulous Holiday Gifts For Kids
-
Why 'Heroin Chic' Is A Dangerous Trend For South Asians
-
Highlights From The South Asian Literature And Arts Festival (SALA)
-
Ask Dr Monica Vermani: Her 5 Break Up Rules You Should Know
-
Roti Chai Is The Perfect Eatery To Hit Up While Christmas Shopping
-
I Loved Visiting This Quaint Town Of Bath
-
Indian Alley Brings Delhi's Iconic Roadside Eats To Camden Market
-
This Is Why Mauritius Is A Traveller's Dream
-
"Making Happy" By Sheetal Seth Is The Book Kids Need When Their Parent Is Sick
-
International Day Of The Girl: How Women Of The Sundarbans Are Saving Their Girls
-
The Murder Of Mahsa Amini: Will The Global Outcry Make A Difference?
-
South Asian Literature And Art Festival Is Bringing Together The Biggest Names In SA Lit And Here's Why You Need To Go
-
Canada's Most Powerful Women Were Celebrated At The Women Empowerment Awards 2022
-
It's All About The Home Cooked Veg Goodness At London's Ananda Bhavan
-
What Exactly Is A NFT And Why We Need To Stop Ignoring It
-
TIFF 2022: Checking Out The Fabulous Bask-It-Style Gift Lounge
-
Gopal’s Corner Blend Malaysian And Tamil Cuisine Creating An Unforgettable Bite
-
We Celebrate National Wildlife Day With Our 5 Fave Sanctuaries In India
-
Canary Wharf Heats Up Your Palate With Chai Ki
-
Ready To Find Your Match? You'll Need These 4 Desi Dating Apps In Your Life
-
Where Does Hinduism, Islam & Sikhism Stand In The Abortion Issue?
-
Never Forget: 12 Movies & Books To Help You Continue The Partition Conversation
-
From North To South London's Award-Winning Bayleaf Restaurant Elevates Indian Cuisine At Whetstone
-
Here's Why I Fell In Love With The Sea Views Of Southampton and Portsmouth
-
Shree Krishna Vada Pav In London Celebrates India's Iconic Veggie Dishes
-
The Pope’s Apology: A Closer Look At His “Pilgrimage Of Penance"
-
Want To Go To Marrakech? This Is What I Did
-
Virtual Pageants Celebrate Inclusivity & That's Why I Love Them
-
Here's How I Spent 48 Fabulous Hours In Lille, France
