Yesterday I decided to take out pet insurance for our Burmese cat, Jackson.
A work colleague was completely shocked to find out this week that her cat had torn it’s cruciate ligament from jumping off a fence incorrectly and as a result needed an x-ray, day of observation at the vet followed by an operation which is going to cost $1 700.
If like me, you don’t have a few thousand dollars saved away for a rainy day or potential pet emergency, it’s definately worth considering pet insurance, especially since most are only around $20 a month.
Our cat is an indoor cat but I figured that even he could jump off a couch or side table incorrectly and damage a paw and I really don’t want to have the financial stress associated with a mega vet bill from an illness or injury nor do you want to have to even consider whether it’s easier just to get your pet put down!
As with everything when you’re reasearching pet insurance, read the policy details carefully. None of them that I could find insure for pre existing injuries and most have a waiting period for illness (3 weeks to a month) but many will insure your pet for accidents as soon as you take out the policy. Some pure dog breeds have special conditions applicable to them such as large dog breeds as apparently they age faster and some dangerous breeds are uninsurable. Extra’s that I found include services like refunds on the purchase price on your pet if they die, advertising money if they get lost etc. Pet insurance really gives you peace of mind – pets like children seem to be prone to accidents and insuring them is all part of being a responsible pet owner.
So is it worth getting pet insurance? Well there’s some that argue that you’re better off putting the money you’d spend on pet insurance away in a seperate high interest earning account but if like me you’re not the best at saving then perhaps it’s better to pay a small monthly amount knowing that you’re covered if anything happens. Also I figure if you put the money you’d spend on insurance ($20) in an account, it would take 5 years to save $1 200 – what if something happens much earlier? $20 a month is not going to break the bank but what are your thoughts? do any readers have pet insurance or have had any pet insurance experiences?
I found an informative article on the NineMSN Money website.
A pet insurance comparison website is Oz Pet Insurance.
Some Australian pet insurers are:
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