Our pets are part of our families, and it has been reported that more and more people are purchasing pet insurance for their pets. One of my Rossen Reports viewers asked if pet insurance was worth it. What is pet insurance? Basically, if you do some research, you'll find that pet insurance uses a lot of the same terminology as our health insurance. Pet insurance is a plan that you pay on a monthly or annual basis in exchange for reimbursement of eligible veterinary expenses. In most cases, once your deductible is met, your pet insurance company will reimburse a portion of the cost or pay your veterinarian directly. What is covered and what isn't? This depends on the type of insurance you plan to purchase. Most plans cover accidents (swallowing), injuries (bone fractures), illnesses, tests, surgeries, etc. What isn't typically covered? Cosmetic procedures (such as ear trimming), grooming, and any pre-existing conditions your pet had before insurance began. When it comes to regular visits, it really depends on your coverage. Although not always covered, many pet insurance companies offer wellness coverage plans as an additional cost if your insurance doesn't cover vet visits. How much does it cost? According to the report, the average premium for insurance for dogs is about $53 per month, and for cats about $32 per month. However, the cost will vary depending on several factors, including the type, breed, health history, and even age of the pet being insured. (Older pets tend to cost more to insure!) Is it worth it? Experts say there are several factors you can consider to determine if pet insurance is worth it. there is. It's worth doing so if your pet is young and healthy, if you don't have much savings to cover expensive veterinary bills if something happens, and/or if you have insurance and you have peace of mind. If your pet is older, has health problems, and/or you can't afford high veterinary fees, it may not be worth insuring. Where can I get pet insurance? Here are some of the highest rated policies: Healthy PawsEmbraceFetchSpotASPCA **Do you have a question for Jeff Rossen? He answers consumer questions every Friday in his new segment, “Rossen Responds.” is answering. If you have any questions, please email RossenResponds@hearst.com. **
Our pets are part of our families, and it has been reported that more and more people are purchasing pet insurance for their pets. One of my Rossen Reports viewers asked if pet insurance was worth it. So we did some research.
What is pet insurance?
Basically, if you do some research, you'll find that pet insurance uses a lot of the same terminology as our health insurance. Pet insurance is a plan that you pay on a monthly or annual basis in exchange for reimbursement of eligible veterinary expenses. In most cases, once your deductible is met, your pet insurance company will reimburse a portion of the cost or pay your veterinarian directly.
What is covered and what is not?
This depends on the type of insurance you plan to purchase. Most plans cover accidents (swallowing), injuries (bone fractures), illnesses, tests, surgeries, etc. What isn't typically covered? Cosmetic procedures (such as ear trimming), grooming, and any pre-existing conditions your pet had before insurance began. When it comes to regular visits, it really depends on your coverage. Although not always covered, many pet insurance companies offer wellness coverage plans as an additional cost if your insurance doesn't cover vet visits.
How much does it cost?
According to the report, the average insurance premium for dogs is about $53 per month and for cats about $32 per month. However, the cost will vary depending on several factors, including the type, breed, health history, and even age of the pet being insured. (Older pets tend to have higher premiums!)
Is it worth it?
According to experts, there are several factors you can consider to determine whether pet insurance is worth it. It's worth doing so if your pet is young and healthy, if you don't have much savings to cover expensive vet bills if something happens, and/or if you have insurance and you have peace of mind.
It may not be worth it if your pet is older and has health issues, or if you can't afford high veterinary fees.
Where can I get pet insurance?
Some of the highest rated ones are listed below.
**Do you have a question for Jeff Rossen? He answers consumer questions every Friday in his new segment, “Rossen Responds.” If you have any questions, please email RossenResponds@hearst.com. **
