Pet Insurance Is A Thing

If your beloved golden retriever has a bad habit of treating your dirty gym socks like a gourmet five-course meal, you already know that a trip to the emergency vet can cost more than a brand-new gaming console. The Wall Street Journal gives us a run down of the best insurance options for your furry friends and family so you do not end up sobbing over a veterinary bill (and to protect your bank account from an animal's terrible life choices). 

‍

Here are Five Fast Facts on pet insurance:

1. 🛡️ Protection Plan - The ultimate goal of getting one of these monthly financial protection plans is to safeguard your wallet from unpredictable, budget-crushing pet medical bills that always seem to happen at the worst possible time. Your pet may suggest love is all you need, but going bankrupt because of them doesn't fill their tummies.

2. 🤔 Priorities, Please - The first thing you need to do is decide what's most important. Is it cost, overall coverage, waiting periods, 24/7 access, something else? Once you decide that, you can use a site like Wag to compare both features and costs. It's like a buffet of coverage!

3. 🏆 Overall Winners - Pets Best and Spot are two of the best pet insurance companies to look into when your animal companion inevitably does something dumb and dangerous.

4. 👀 What's Not There - Most policies will exclude things like pre-existing conditions, routine check-ups, boarding, and grooming. Much like human insurance, you need to do your research and comparisons, then make sure you understand the details.

5. 💲 Cost Considerations - Depending on what you get, pet insurance costs an average of about $52 per month for dogs and $24 per month for cats. Unlimited-coverage plans cost more, averaging about $91 monthly for dogs and $37 for cats. Apparently, even cats have learned the fine art of generating expenses (while still looking down on you, of course).

🔥Bottom line: Getting insurance for your pet might seem ridiculous until your cat decides to eat a poisonous houseplant. Top companies can rescue you from financial doom, but you still have to do your homework and compare different monthly prices and rules. It turns out that buying healthcare for a cat or a dog is just as complicated and annoying as buying it for a human, but it beats having to explain to your parents why you spent your entire college fund on a dog's stomach surgery. And let's be honest, nobody wants to hear the phrase, "Good news, your pet is fine. Bad news, your wallet needs medical attention."

‍

Do you have pet insurance?

‍

Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!

‍

BTW, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!

‍