When you add a Goldendoodle to your family, in addition to settling on a name, you’ll need to make several major decisions. One of them has to do with pet insurance. First-time pet owners may think that they don’t need pet insurance, or that they’ll only need it when their pup gets older. Sadly, this isn’t the case in many instances.
Other owners who want to prepare for their dog’s care may opt to set aside some cash every month to cover veterinary emergencies. This is good planning, but the problem is it may not be enough. As the following post reveals, pet healthcare costs can even exceed human healthcare:
Pet care costs can top human medical bills, new report reveals
Pet owners may shell out as much — or more — money for their pets’ health care as they do for their own, a new report suggests. Pricey new technologies and more advanced treatment options drive up costs in many cases.
For a clearer picture of the types of animal illnesses, accidents, and resulting costs that pet owners face, Healthy Paws Pet Insurance, a company that sells medical coverage for dogs and cats, crunched data from 215,000 claims submitted by their customers during a one-year period. Read full post at CBS News…
If you have health insurance for yourself and your loved ones, then you can probably see the value of having your Goldendoodle covered as well. Doodles are playful and can get into lots of trouble, especially when they’re young, increasing the risk of accidents. If you have multiple pets, it gets even more difficult to save enough money to cover the costs for more than one accident or illness within a year.
Pet insurance has yet to fully catch on, but its popularity has increased considerably in the last few years. Surprisingly, one reason for this is that pet insurance is one of the fastest growing optional benefits for employees. The following post makes some interesting observations about this:
…More than half (51%) of all employees, and 58% of those under age 30, in a recent survey by social meeting site Skout said that dogs in the office make a company “a cool place to work” — three times the number who said the same about ping pong or foosball tables.
So, given the race to recruit Millennial talent lately, it makes sense that pet insurance is among the fastest-growing employee benefits. About 5,000 U.S. companies have started offering it, including Microsoft, T-Mobile, Levi-Strauss, Hewlett-Packard, Xerox, and Yahoo. Ikea made Fortune’s latest ranking of the Best Companies to Work For in part because it made veterinary coverage available. Read more at Fortune.com…
Once you appreciate the importance of pet insurance, you need to understand how it works — it’s not exactly the same as your own health insurance. For instance, you may have to pay the vet bills in full and then wait to be reimbursed by the insurance company. The following post examines how pet insurance works, what it covers and whether it’s worth the price you pay:
…A serious illness or injury can take a financial toll, even when the patient is a pet. Cancer treatments can easily run $5,000; surgery to fix a torn ACL from, say, a poorly executed jump off the sofa can cost about $3,300. Pet insurance is sold with the promise that by helping to cover some of your pet’s medical bills, you won’t be forced to consider “economic euthanasia” in the most dire circumstances.
But as helpful and emotionally comforting as it might be, is insurance really worth the price? Read more at Consumer Reports…
Whether you’re bringing a new Goldendoodle into your family or just want to be more financially confident about the care of one you have, including pet insurance in your considerations is highly recommended. Start the process simply by taking a few minutes to get pet insurance quotes from a few companies for comparison. It won’t cost you anything to look, and you can do it from the comfort of your home. Once you have some rates, you can begin the decision-making process in earnest.
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