One of the most common mistakes that pet owners make in regards to pet health insurance, is believing that any pet insurance is better than no insurance at all. Unfortunately this is not usually the case. The fact is, cheap pet insurance may cost you more than if you purchased a policy with higher monthly premiums.
It’s true that cheap pet insurance often features plans that cost less each month, but if you read the fine print it is not uncommon to find that when an emergency does happen, you will be responsible for a large portion of the vet bill.
Although cheap pet insurance does offer less expensive premiums, the deductible is often much higher, as well as the copay. In addition to this, these cheap pet insurance policies rarely cover the more expensive medical procedures that some pets may need. Another disadvantage to cheap pet insurance is that these policies do not usually cover preventative care, such as routine wellness exams, vaccinations, dental cleanings, etc. Because these policies don’t cover preventative care you will be stuck paying for this out of your own pocket, along with your monthly premiums, and if an emergency should occur, your out of pocket costs could be financially devastating.
If you avoid the cheap pet insurance policies you can avoid all of this expense, and best of all, a better pet insurance is likely going to cost you only a few dollars extra each month. When you consider that you could avoid much of these out of pocket expenses by paying an average of $10 more each month in premiums, it easy to see how the better pet insurance can save you a lot of money.
In addition to getting better medical coverage for your pet, when you have a pet insurance policy that covers routine preventative care you can be sure that your pet is receiving the best care possible, which in the long run may reduce veterinary bills. When a pet does not receive preventative care, just like people, their health can deteriorate over time. This will lead to high medical costs, and when this does happen cheap pet insurance will only cover a small percentage of your pet’s vet bills.
Cheap pet insurance can actually end up costing you more money than no insurance at all. Not only will you be paying for all preventative care, you will also be paying for the majority of vet care in the case of illness or injury, along with your monthly premiums. On the other hand, the better pet insurance policies offer great coverage for just a few dollars more a month, and this will save you tons of money in the long run.
Before selecting a cheap pet insurance policy, carefully read the fine print to see just how much out of pocket expense you’ll have when you actually need to file a claim, and decide if the cheaper policy is worth saving a few dollars a month.
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