In recent years, more and more veterinarians have been accepting pet insurance as a form of payment. So, what is pet insurance, and is it worth it? There is a lot to consider when applying for this type of financing.
What is Pet Insurance?
Pet insurance is medical insurance currently offered to pet owners that cover procedures and yearly checkups. Every plan looks different, and it can be troubling to understand the differences.
Pet health insurance is similar to the insurance we humans use when we go to the hospital or doctor. It can help in tight spots, but it costs monthly.
It’s important to be aware that a lot of animal hospital are unable to accept pet insurance directly. Therefore, the client has to pay out of pocket and is reimbursed after sending their invoice in. Please note that our animal hospital does not offer discounts to people with pet insurance.
Before deciding to apply for pet insurance, let’s look into the benefits of it.
The Benefits of Pet Insurance
Although pet insurance does cost money, it is worth it for some pet owners and their furry animals. The main benefit is that it helps during tough times. We all know that emergencies can happen whenever and usually when it is least expected.
Instead of paying the entire price of an emergency procedure, pet owners with this type of insurance have a percentage covered by their insurance company. Sometimes, the amount of coverage is as high as 100%!
Another benefit is that some veterinarians and practices offer discounts for pet insurance people. This can decrease the amount you pay at once.
How to Apply for Pet Insurance
It’s fairly simple to apply for pet insurance. First, you will need to find the exact company you wish to use. Next, either in person at an office or online, you will need to submit an application. The majority of pet insurance companies require a soft credit check in order to issue you a ‘pet insurance’ card.
Once you have all of the information, it is a waiting game until you are accepted. Sometimes, it can be as quickly as the same day or take as long as a month.
Is Pet Insurance Necessary?
Pet insurance is not always necessary, but some people swear by it! However, you can still pay for emergency surgeries and necessary procedures on your own or with financial help. The thing about pet insurance is that it is relatively new, so not all veterinarians offer the opportunity to use it. Make note, though, that pet insurance doesn’t cover preexisting conditions.
Other Financial Pet Help
What happens if you do not qualify or cannot pay the monthly payment on pet insurance? It is not the end of the world! There are a lot of organizations and options that can help you pay for emergency costs that are out of nowhere.
Did you know there are credit cards that offer up to 18 months of interest-free payments? You can always apply for these cards and see if you qualify for the amount necessary. However, these cards do require a high credit score to get no interest. You will also need to keep on top of your payments so that your credit report history is not affected and you don’t owe back the insurance.
Some animal hospitals have charities and donations that can cover the cost needed. Usually, you will need to fill out an application that determines you cannot pay the amount and need help. Sometimes they will ask for financial papers as evidence that you do not have the funds. They tend to be competitive. Depending on your income, you may qualify to have the entire procedure and medications covered by the donations.
Let Our Animal Hospital in Moline, IL, Know If You Have Any Pet Insurance Questions
Overall, pet insurance is not for everyone, but it can help when you are in a tight and overwhelming spot. Pet insurance is a type of insurance that pet owners can apply for and pay a monthly fee for. This monthly fee goes towards the deductible. The more money you can pay each month, the more the insurance covers the costs.
The thing with pet insurance is that it is relatively new. This means that there are a lot of unanswered questions on who qualifies and who doesn’t. Don’t worry, though; there are options other than pet insurance that can help you pay for your pet’s medical bills, like pet no interest credit cards and income-based financial help.
For more information about pet insurance or to schedule your pet’s next vet visit, please give City Line Veterinary Center a call at (309) 524-5696.