Veterinarians strongly encourage you to get pet insurance

Read time: 2 minutes

“No matter how careful or responsible we are, our puppies find and devour socks, our kittens climb and stumble off shelves, and we have a responsibility to mend them back to health,” says William Hodges, DVM. “We love our pets, and pet insurance is one tool that enables us to care for them without financial burden.”

Many pet parents run into this dilemma. And unfortunately, it doesn’t always work out in favor of the pet.

In fact, two out of every three pets are euthanized every week solely due to economic reasons.

Pet insurance makes it so you don’t have to decide between your pet’s health or the amount of money you have in your bank account. Instead, it allows you to focus on getting your pet the care they need.

One of the common misconceptions people have is thinking you can just save the amount you’d have spent on premiums for an emergency fund. Let’s say you do that and put away $50 a month into a savings account for 10 years. You’d have $6,000, which is great. But here’s the problem:

What if your pet has an emergency before they reach 10 years old?
What if your pet has more than one emergency?
What if your pet has a $4,000 vet bill — not an uncommon dollar amount for emergencies — before they even reach 3 years old?

“What if these expenses need to be addressed earlier in your pet’s lifespan, before you’ve saved enough to cover them?” Hodges asks.

The possible scenarios are endless. The bottom line is: Having a pet without pet insurance is risky.

Hodges says, “The alternative to paying for necessary care is putting your animal up for adoption, or in worse-case scenarios … euthanization. This is obviously distressing for everyone involved. These dilemmas can and should be avoided.”

More, if not equally, important is the peace of mind you have with pet insurance. “As a veterinarian, I will also say that over the last few years, the most significant benefit of pet insurance I’ve seen is peace of mind,” Hodges said. It’s less stressful for you knowing your pet can get the care they need at any given time.

When you’re shopping for pet insurance, it’s important to make sure the company:

Allows policyholders to choose their own veterinarians, including specialists and emergency and critical care facilities.
Does not attempt to dictate veterinary procedures or fee schedules.
Requires a veterinarian-client-patient relationship. This allows your veterinarian to know your pet well enough to be able to diagnose and treat any medical conditions your animal develops.
Is approved by the state insurance regulatory agency where the policy is sold.
Is consistent with the Principles of Veterinary Medical Ethics and the pet health insurance industry ethical standards.
Uses licensed veterinarians, or veterinary medicine trained technicians, to assist in claims adjudication.
Is clear about policy limits, pricing structures, and optional coverage (e.g., coverage for annual wellness visits) that might be available to policyholders.
Is transparent about how the terms and conditions of plans will impact coverage and costs, including the financial obligations of policyholders such as co-pays, deductibles, and exclusions.
Communicates clearly about the fee reimbursement process (i.e., how reimbursements are determined and how quickly reimbursements are provided to policyholders).