Pet insurance is one type of insurance that many consumers may not be familiar with – but one that can still provide the same support.
With inflation remaining stubbornly high, the stock market swinging wildly, and a recession looming, it’s easy to understand why many Americans are taking a hard look at their finances. During times like these, it makes sense to do everything you can to protect your pocket and avoid surprises.
Insurance can help. Whether you’re talking about life, car or travel, a substantial insurance policy can both protect you financially and provide comfort during times of uncertainty.
In exchange for a minimal fee to a provider each month, owners can obtain financial reimbursement for a whole range of veterinary services for their dog or cat.
If you’re in the market for pet insurance, then speak with an expert today. They can help you get started with a free quote so you know exactly what to expect.
Why you should buy pet insurance in a weak economy
With the prospects of economic relief unclear and world affairs volatile, it can make sense to shore up your insurance policies. Here are three reasons why you should get pet insurance now.
Pet owners can spend thousands of dollars over the lifetime of their pet, particularly during the first year they own them. While some expenses are unavoidable, pet insurance can dramatically help reduce costs by reimbursing owners for a range of visits, medicine and potential procedures.
Owners just need to submit a simple reimbursement form to their provider and, depending on the coverage they’ve chosen, they’ll then receive money back for the services provided. Compare to that the way owners who don’t have insurance currently pay for service – out of pocket the same day with no financial support pending. Or, even worse, by putting off care until they can afford it. Many Americans are already dealing with new and increasing expenses but pet insurance can help reduce costs.
Consistency, Any homeowner who has shifted from an adjustable-rate mortgage to a fixed-rate one already knows how much better it is. By knowing exactly what you’ll need to pay each month you can better budget and prepare for expenses. The same concept applies to pet insurance.
In exchange for a monthly fee to a provider (cheaper if paid on an annual basis), owners can rest easy knowing that their cat or dog has medical coverage in case there’s an unexpected sickness or emergency. And they know what to pay to have that coverage in place.
Hoping for an inexpensive bill isn’t smart or strategic. But with pet insurance, you’ll have consistency and the ability to plan.
Peace of mind
Even though some insurances, like home and auto, are often mandatory, it doesn’t mean that they aren’t beneficial or that they don’t provide peace of mind. They still do. Ditto for pet insurance.
Most owners don’t have the medical background or experience to diagnose or treat their animals. So it can become stressful when it comes time to head to the vet, not knowing what the prognosis will be. That’s even worse when you’re unsure of the final cost.
But pet insurance alleviates owners’ financial concerns by letting them know they have the backing to get through it. Peace of mind is always a plus but during times of economic upheaval, it’s priceless.
The bottom line
Many financial advisers consider insurance a worthwhile investment regardless of the economic headwinds. But during a time of inflation and overall economic woes, it can be particularly helpful to have – both for you and your furry friend.