Pet insurance accrues pet owners several benefits, including catering for medical treatment, preventative measures, and treatments. But despite its benefits, not many people source the insurance.
In the US alone, about 144.6 million people own pets. Out of that number, only 0.26% have pet insurance. The primary reason for the low adoption of pet insurance is the misconception that exists. Below are some of the popular myths in the market and why they are untrue.
Pet insurance is too expensive
The misinformation that the monthly premium for pet insurance is very high is false. For instance, with Spokk petcare insurance, you will only need to pay $46 or less monthly to get coverage.
The monthly premiums can save you from paying thousands of dollars in vet bills. One of the main benefits of the affordable cost of pet insurance is that you will never have to worry about economic euthanasia.
Economic euthanasia involves a situation where you have to put your beloved pet down because you cannot afford the cost of medical care. Thus, if you weigh in on the affordable monthly premiums and unexpected vet bills, you will find that pet insurance is not expensive. It is better to pay pet insurance than consider heartbreaking economic euthanasia.
Pet insurance is not worth the cost
Sadly, most people who own pets believe that pet insurance is not worth the cost. They also do not believe that it is not an essential service that can save their pets’ lives. Well, that misinformation is not true. Pets, like humans, can get seriously ill or get into dangerous accidents. Thus, the cost of paying for pet insurance is as vital as paying for human insurance.
Furthermore, the cost of pet insurance is relatively affordable. Most insurance companies provide pet owners with a wide range of choices. For instance, you can find accident-only coverage or accident-plus illnesses coverage. The choice of what to pick solely depends on you.
An accident-only cover is affordable, and you can pay the monthly premiums for at least $22. On the other hand, the accident plus illness coverage for $46 monthly premiums. As you can see, you can choose whatever coverage you want at the available costs. The affordable costs of pet insurance outweigh out-of-pocket payments that may drain your savings.
You can’t get pet insurance for older pets
Older pets are at a higher risk rate of illnesses than younger pets. However, the misconception that you cannot get pet insurance for older pets is false. Some insurance providers offer insurance for older pets, even those with pre-existing conditions.
The only drawback is that an older pet can cost more to insure than a younger one. The expensive pet insurance for older pets is often because the older pet will need more expensive medication than the younger ones.
Thus, getting pet insurance when your pet is young is always advisable. Also, note that insurance may not cover everything if you take out insurance for an older animal with several health issues. Despite the limitations, you will still have access to pet insurance for your older pet.
Pre-existing conditions are not covered
Pre-existing conditions are those health conditions or problems your pet may have before you take insurance. They may include:
- Heart problems
- Urinary blockages
Many pet insurance companies tend to avoid pets with pre-existing conditions. They deem them as a risky and expensive investment. Thus, do not provide insurance for those with pre-existing conditions. However, that is not the case for all. Some of the best companies with excellent pet insurance reviews, like Spokk, provide coverage for pets with pre-existing conditions.
One thing to note is that the coverage will be more expensive than that of pets with no pre-existing illnesses. Additionally, some businesses could have limitations, including only covering dogs with diseases that are treatable pre-existing conditions.
Pet insurance is too complicated
Pet insurance is not as complicated as most would assume. Generally, there are two main policies that you can choose for your pet. You can either go for an accident and illness cover or an accident-only cover.
The best pet insurance companies will most likely explain the ins and outs of each coverage and how much you will need to pay. Once you know what you want, you can easily get coverage. All the processes of registering for insurance coverage can take place online.
In addition, getting an insurance claim is rather easy and quick. If your insurer and vet allow for electronic claiming, the process is straightforward, and you will not need to handle much paperwork. Thus, pet insurance in this modern world is not complicated.
The misconceptions around pet insurance are the main reason for the low number of people taking pet insurance. As you can see from above, all the myths are not true. Thus, like human insurance, pet insurance is also essential.