Everyone is aware of the importance of insurance when it comes to their life, vehicle, house and property. When disaster strikes, having an insurance policy protects us from potential financial ruin. No one likes to pay a monthly premium for a product that we likely will never need but if the house burns to the ground, an insurance policy allows us to rebuild.
In Ontario, most of our health care is covered by OHIP. Our taxes pay for our medical care and we never get to see that bill. Additionally, some employees are fortunate enough to have their company provide group insurance plans to cover dental, vision and prescriptions.
When it comes to our pets, most people are prepared for the costs for food, grooming, toys, and taking the dog or cat to the vet once a year for a check up. Approximately half of the appointments we see are for healthy animals that are in for a routine physical examination and perhaps updating their vaccinations.
However, the other half of our day is dealing with sick or injured animals. We see it all – diabetes, kidney failure, liver disease, bladder stones, cancer, ruptured ligaments or fractured bones, osteoarthritis, immune mediated diseases, dental problems, seizures, blindness and the list goes on and on. Some of these problems are expensive to diagnose and treat and may also involve a referral to a specialist. There is so much help available for animals but the costs involved can be an unexpected financial burden.
There are a number of pet insurance companies in the marketplace that sell policies that cover illness and accidents. There are a number of factors that will affect the monthly premium but most companies allow you to generate this directly from their website.
I am a huge fan of pet insurance. When an insured pet comes in with a medical problem, we are able to provide the required care without the owner worrying about how they will pay for it. Every owner who has insurance is glad they purchased it when their pet becomes very acutely ill or lives with a chronic disease condition and virtually everyone who has an uninsured pet wishes they had it when things go badly. Pet insurance is not for everybody but it is something that is gaining popularity and is worth investigating.