If you’re preparing to introduce a new dog or cat into your home, you likely have a shopping list that includes a bed, treats, and toys. Despite the fact that you’ll undoubtedly need all of these things for your pet, you’ll want to add insurance to your list. Obtaining pet insurance may not be the first thing on your mind when you bring a new dog or cat into your home, but it is essential. Here is information about why and when to purchase pet insurance.
Why get pet insurance?
Did you know that the average cost of emergency surgery for a cat or dog that has been injured by a car or ingested a foreign object is between $1,500 and $3,000? In fact, the average cost of cancer treatment for a pet might exceed $10,000.
Not only that, but huge disasters and calamities can drain your finances. Consider allergies as an example. Numerous dogs and cats acquire allergies, which can result in tens of thousands of dollars in vet costs and medicine over the course of their lifetimes.
The good news? Typically, pet insurance will cover a large percentage of the cost of these (and many other) medical conditions.
When to buy pet insurance
If you are like the majority of new pet owners, you likely have numerous questions about pet insurance. When is it best to purchase pet insurance? Should you obtain pet insurance before or after your first visit to the veterinarian? The sooner you obtain insurance coverage for your dog or cat, the better. Here are numerous justifications:
To prevent a condition from being characterized as pre-existing
Insurers will not cover pre-existing conditions. Therefore, it is essential to cover your pet before any medical problems are identified.
Here is an example of why this is true:
- Owner A purchases a dog and immediately insures her. A few weeks later, the dog is diagnosed with allergies by a veterinarian. The majority of the expense of allergy treatments, drugs, and, in some situations, allergy testing will be covered by Owner A’s insurance provider.
- Owner B also acquires a new puppy but is uncertain as to when to purchase pet insurance. Therefore, Owner B decides to wait a few months before purchasing insurance. A few weeks later, the puppy develops skin difficulties and begins to itch. The veterinarian for owner B diagnoses the dog with allergies. Now, the puppy of Owner B has a preexisting problem. So, if Owner B gets pet insurance, it’s likely that allergy medications, treatments, and tests won’t be covered.
At Figo, we provide coverage for “curable” pre-existing conditions. For additional information about treatable diseases, please see o their FAQ.
It can be tempting to forego health insurance due to its high cost, especially if you never get sick. With the hefty monthly premiums and out-of-pocket charges, you may wonder how much coverage you actually require. Read More >>
In an ideal world, our animals would never become ill or injured. Dogs and cats, especially when young, have a propensity for getting into mischief. They will chew on electrical lines, devour a box of chocolates that are harmful to dogs, or rush into the street and get struck by a vehicle. If you do not have pet insurance, each of these scenarios could result in expensive emergency expenses.
There is a waiting period
Few pet insurance providers offer immediate coverage; the majority have a waiting period. Even if an insurer does not have a waiting period, it may take several days to check your pet’s medical data before issuing coverage.
The average waiting period for illness-related claims is approximately 14 days. an average of two to three days, although it might be as long as two weeks for accidents. Moreover, the waiting period for specific disorders, such as hip dysplasia and cruciate ligaments, can range from six to twelve months. Therefore, the sooner you can get your dog or cat beyond the waiting period and insured, the better. Our waiting times at Figo are one day for accidents and fourteen days for illnesses. Nonetheless, it remains prudent to acquire insurance as soon as possible. To learn more about Figo’s waiting periods, please visit their Frequently Asked Questions page.
It costs less to insure a young pet
Because older pets are more likely to develop certain medical illnesses, such as cancer, glaucoma, and pancreatitis, many insurance companies will not accept a dog over a particular age. Typically, this cutoff age falls between seven and fourteen years old. An older dog is also more expensive to insure. Insuring your pet as a puppy or kitten is normally advised by the majority of professionals. At Figo, we acknowledge that senior pets also need coverage! We therefore have no upper age limit. You never know when your dog or cat may require emergency veterinary treatment, and we never want you to have to pick between your pet and your wallet.
When your pet is ill or wounded, the last thing you want to be concerned about is whether you can afford the necessary medical care. Having a health insurance policy for your pet will allow you to make medical decisions based on what is best for your pet rather than on your financial situation.
Bottom Line : The average cost of emergency vet visits for a dog or cat might exceed $10,000. Consider allergies, which can result in tens of thousands of dollars in vet costs over their lifetimes. When to buy pet insurance At Figo, we provide coverage for “curable” pre-existing conditions. Owner A’s insurance provider covers the majority of the expense of allergy treatments, drugs, and, in some situations, allergy testing. If Owner B gets pet insurance, it’s likely that allergy medications, treatments, and tests won’t be covered. To learn more about Figo‘s waiting periods, please visit their FAQs.