Pet parents have many responsibilities to keep their furry children healthy and happy; one of these is buying pet insurance. Pets may require expensive veterinary care when they fall ill or sustain injuries. Pet insurance policies allow parents to seek prompt medical care for their pets and also provide financial relief by covering the costs of veterinary care. While many plans are already affordable, pet parents can use a few tips to reduce costs further.
Using promotional offers and employer benefits
While there is no free pet insurance policy for low-income families, there are a few ways that pet parents can get low-cost benefits on pet insurance purchases. One such way is through employer benefits. Many companies provide pet insurance as part of their employee benefits package. The premium amount for the insurance policy, which is deducted from the employee’s paycheck, is likely to come with discounts and cost reductions through employer benefit schemes.
Promotional offers are another way to get low-cost pet insurance policies. Many insurance companies offer limited-time discounts and promotional offers on pet insurance policies to attract new customers. For instance, one may get free coverage for a month or two.
While both of these avenues are useful, there are other ways for pet owners to find the best-priced pet insurance covers.
Enrolling pets at a young age
Pets might be susceptible to specific health risks, indicating that they might need veterinary care in the future. This is why parents should insure their pets when they are young or as soon as they are brought home. Moreover, insurance premiums are typically lower for younger pets because they tend to be healthier and pose a lower financial risk to insurance providers.
Another reason for pet parents to act fast is that insurance companies generally do not offer much assistance when it comes to pet insurance for pre-existing conditions. These are health issues a pet faces during the waiting period for an insurance policy. Pets exhibit the first symptoms of these conditions before the insurance policy’s coverage kicks in. While pet parents can still enroll their pets for insurance and get coverage for accidents and illnesses, they should know that companies rarely cover costs related to the animal’s medical history. For these reasons, enrolling pets when they are young is essential to cut down on insurance premium expenses.
Looking for discounts
Pet insurance that covers veterinary expenses can also come with discounts for specific circumstances. For example, some companies give policy buyers a discount if they pay their premiums upfront instead of monthly. On the other hand, some insurance companies offer lower premium rates to members of the AARP (American Association of Retired Persons). Also, many insurance providers offer reduced premium rates and discounts to veterans and active military personnel.
Discounts and lower rates on policies might be available, even for pet insurance for multiple pets. So, one should look into these before purchasing pet insurance.
Comparing projected costs
A particular mistake many make while buying pet insurance is focusing solely on the premium rate at the time of enrollment. Monthly premiums tend to increase as pets get older and more vulnerable to health-related issues. An insurance policy that appears cost-effective now may not be very affordable three to four years down the line. Many pet parents make this mistake frequently, and they may have to spend thousands of dollars in premiums in the future.
So, it is important to keep in mind that current premium expenses might not hold much significance for a pet parent from a cost-benefit point of view. That said, comparing projected costs over a policy’s lifetime can help one estimate how much money they will be putting into pet insurance. Also, comparing projected costs and buying the most cost-effective plan can help increase savings over a longer period of time.
Getting an accident-only policy
Accident-only policies tend to cover pets for specific emergencies like swallowing objects that are harmful and bone injuries. Regular pet insurance is typically more comprehensive because it covers the cost of a wide range of treatments and hereditary conditions. At the same time, regular pet insurance also includes coverage for situations and conditions that a given pet is unlikely to encounter (or encounter frequently) during their lifetime. For this reason, people looking to cut costs and keep their pets covered can try out accident-only policies.
People need to carefully analyze the medical history of their pets. If the pets are generally in good health, getting an accident-only policy might be prudent and highly cost-efficient for pet parents.
Ensuring preventative care
Preventative care is a good way to reduce health-related and insurance expenses. This can include feeding pets nutritious food, keeping them physically active and happy, and maintaining good oral health by brushing their teeth regularly and giving them dental treats. Taking pets for regular veterinary check-ups to identify potential health risks and staying up-to-date on anti-viral treatments is also necessary.
Other ways to minimize pet insurance costs, especially for low-income families, include comparing prices for veterinarian services in the area, reaching out to charitable organizations for financial aid, and buying generic treatment options instead of branded ones.
