If you have a new puppy or a sickly dog, you may be wondering: Does it ever make financial sense to get pet insurance? Fortunately, there are several options available. First, you can get basic coverage for around $30 or $50 per month. This will protect you from huge medical bills in case of emergencies, but it will also cost you money. Second, pet insurance is more expensive the older your dog is, so if you don’t have a lot of money to spend, you might as well not even get coverage.
The cost of pet insurance depends on the amount of coverage you choose. Higher coverage will cost more money, so choose a policy that fits your needs and budget. Cats, for instance, can live without as much coverage as dogs. However, if you’re buying pet insurance for your dog, you can opt for a more expensive unlimited plan. In addition to coverage, you’ll also have to decide on your deductible. A standard deductible for pet insurance is $250, while a higher deductible can increase your premium.
Another option is to set up a vet budget for your pet’s medical costs. Keeping a vet’s budget on hand is a smart financial decision for people who don’t want to pay monthly insurance premiums. In this way, they can have access to funds to meet urgent needs. And since insurance is not limited to pre-existing conditions, you’ll never know when an emergency will strike.