What are the cons of pet insurance?
Obviously, you need to pay for pet insurance premiums, just like any other policy. You also need to be able to pay for vet services upfront, and be (partially) reimbursed later.
There are exclusions, depending on the plan, such as older pets, some congenital and genetic diseases, and pre-existing conditions. Therefore, it is important to compare plans carefully and understand what will and will not be refunded. For example, if you have a breed that has a risk of hip dysplasia or kneecap dislocation (patellar luxation), which are clearly genetic conditions, you should know whether you plan will refund you for medical and/or surgical treatment. Some people say that pet insurance is expensive… until they really need it to afford vet care!
My take on pet insurance? The owner of a Husky who needed knee surgery recently told me: “We have pet insurance for Sky. It’s the greatest investment we have ever made. That way, we don’t have to make medical decisions based on financial criteria.” There is no question in my mind that pet insurance is a great way to defray the cost of pet care. I have seen many situations where pet insurance was a lifesaver.
It is unfortunate that only 3% of pet owners have pet insurance. There are options for everyone. You can choose a plan that will pay for the less expensive things, like consultations and vaccinations. Or, you could pick a plan that will only help with the unexpected and the expensive: a pet with bloat, hit by a car, or who becomes paralyzed.
Some insurers offer a cancer rider, which is a great option for cancer-prone breeds, like Golden Retrievers.