Pet Insurance or a Savings Account?

Authored By: Anisha Sekar

Many pet owners may try to avoid pet insurance, figuring that a savings account will be enough. This may be fine for some people, but a savings account isn’t always ready with sufficient funds when you need it to be. What happens when an unexpected veterinary visit pops up before you have enough money in your savings account? Chances are you won’t have any other means of covering your pet’s medical bills. In cases like these, it’s always best to have pet insurance instead of just a savings account. Insurance saves you from the worry of not having enough money if the time comes a little too soon. That’s why it is usually recommended to purchase pet insurance if it is available to you.

Here are the top eight reasons to get pet insurance.

1. Common Veterinary Costs

Veterinary costs can be very expensive, even for the most common accidents and illnesses.  Broken bones can cost anywhere from $200 – $5,000, and if your pet contracts any diseases, treatments and medicine can cost thousands of dollars. Plus, if your pet has the bad habit of chewing on things, it’s more than likely that it’ll swallow something that needs to be surgically removed. That’s another $1,000 – $3,000. If you won’t be able to comfortably afford a medical bill of that size, you may want to consider insuring your pet.

2. New Puppies!

Did you just recently add a new baby to your family? No, not a human one; a pup. Puppies are adorable, and occasionally get themselves into trouble. One minute your little pup is merrily chewing your sock, and the next, he’s swallowed his new toy. Such mishaps can be life-threatening, and the cost, as mentioned before, can be great.

3. You Don’t Want to Euthanize Your Pet

When your pet is old and medicine and care is costing a bit too much, most pet parents will end up euthanizing their pets, but there are some who do not believe in this. If this is your situation, between medication and surgery, the cost of keeping your pet alive can be prohibitive without insurance.

4. Outdoor Pets

If your pet usually lives outdoors, she has a larger range of risks than animals that live indoors. Your pet may escape from the yard and get hit by a car or abused by people on the street. Your pet may not even come back and get lost out there. Pet insurance can sometimes covers the cost of advertising to help find your lost dog.

5. Aggressive Pets

There are some pet insurance policies that cover legal matters if your pet gets into a bit of trouble with other pets or humans. Aggressive pets also have a higher risk of injuring themselves. If your pet is overly aggressive, it’s safest to get pet insurance.

6. You Care About Your Pet’s Health

If you’re diligent about your pet’s health, pet insurance can help cover the costs of routine checkups and dental care.

7. Peace of Mind

Last, but definitely not least, peace of mind is one of the biggest reasons to get pet insurance. When you have pet insurance, you won’t have to worry about unexpected veterinary visits. You’ll be able to sleep well, knowing that your pet will be covered when he gets into some kind of accident or becomes sick.

Though some people may prefer a savings account, pet insurance is the safest way to go. If you care about your pet, and want it to be in the safest hands, pet insurance will make this possible. Don’t just hope that your pet won’t need any expensive veterinary treatment before you save enough money – get your pet insured and keep him safe.

Photo:  Courtesy of Bob Jagendorf via Flickr (CC by 2.0)