Q: Today’s question comes from Lizzy. She writes: “I am getting my children a new puppy. Does pet insurance make sense, or is it a waste of money?”
Depending on the type of policy, coverage can include accidents, illnesses, hereditary conditions, dental disease, and behavioral issues.
The best way to think about pet insurance is a lot like human health insurance. When buying pet insurance, you purchase the policy hoping that you won’t have to use it. But with it, you have the peace of mind knowing that you can safely say “yes” to necessary and increasingly expensive health care if an accident does occur or your pet becomes sick.
As with any insurance plan, you’ll want the most coverage at the most affordable price point. Essentially, you’re looking for a provider that will offer coverage specific to both your pet’s needs and your own financial needs. “If you can pay for the yearly visits and the vaccinations, but you think if my pet gets cancer, I can’t do a $3,000 vet bill, then that is the type of coverage you are looking for,” says Melissa Gutierrez, SVP and General Manager of Pets Best.
Most insurers offer a variety of plans — you’ll just need to do your homework and compare each one. Typically, the standard plans offered by most pet insurance providers include accident and illness, accident-only, and wellness, which can also help defray costs for annual check-ups.
