Disadvantages of Buying Pet Insurance

Pet insurance is something that you can buy for your pets at home. The idea is that you can pay a premium in order to cover major medical costs for your pet just like you do for yourself with health insurance. While this might sound like a good idea, there are a number of disadvantages to buying pet insurance that you should be aware of before purchasing.

Not everything is going to be covered. You will have certain procedures that are covered and others that won’t. Don’t think that whatever medical choices you make for your pet will be covered by the insurance policy.

Major medical needs for pets many times never actually happen. This is because in many cases the vet’s decision is that it’s best to put your pet to sleep versus trying to fight. In many cases of major illness or serious injury, your pet might not actually get any care which means you can’t take advantage of the insurance savings.

Many plans require you to pay up front and then you will get reimbursed at a later date. In the case of major medical costs, you will have to have this money in your pocket to take advantage of it.

With certain types of insurance, you might not be able to go to certain vets. This means if your get insurance, you might not be able to keep your vet.

Only certain states and locations will cover your pet. This means that if you go out of your state and your pet get injured, you might not be able to collect on the insurance like you expect.

Instead of paying premiums, you could just save up the money in a savings account for your pet in case anything ever happens. If you need to use it for medical bills, do so. If not, you didn’t lose this money in premium costs.