Is Pet Insurance Worth It? What You Need To Know

Being a pet-parent is awesome! 

However, let’s get real for a second – it can also be super stressful.

Accidents DO happen and life IS expensive. Thus investing in pet insurance is truly never ever a bad idea. After all – who wouldn’t want a helping hand in times of trouble … right?

SO, WHAT IS PET INSURANCE?

It’s all in the name – pet insurance is health insurance for pets; and having your pets protected by a reliable insurance plan means you won’t have to choose between your pet and your purse again.

BUT, I KEEP A WATCHFUL EYE ON MY PETS ALL THE TIME …

Sadly, even if your pets do live the accident-free lifestyle, certain breeds are just naturally prone to medical issues. 

For example – Brachycephalic breeds (snub-nosed dogs) can more easily fall victim to heat exhaustion, breathing issues, skin infections and eye problems. 

Then, of course, purebred pets could come with a variety of hereditary issues caused by selective breeding as well.

LET’S LOOK AT SOME NUMBERS

The prices charged by veterinary practices are determined by so many variables. Their equipment alone can cost around R1 million, medicine and consumable bills can be anything from R250 000 to R300 000 a month – and these costs are constantly changing depending on the exchange rate. It’s rather intense, thus those bills are also rather intense too.

Sterilisation and deworming can cost up to R2 500. A round of vaccinations can cost up to R500 and a 3month course for flea and tick control is another R500. Yikes!

Fixing a broken leg can cost up to R15 000, cataract surgery about R20 000 and x-rays R6 000 per year. If your pet is hit by a car – it could cost up to R40 000 in vet bills.

A big misconception about having your pets insured is that pet insurance is just too expensive. However, having looked at the above prices … is it really though?

Just because those bills are rising, absolutely does not mean your blood pressure should.

Your monthly premium on pet insurance can cost anything from R60+ (depending on your cover), and an amazing night’s rest sans the stress is thrown into the mix too. 

Some insurance providers also provide a discount for more than one pet on the same policy. Just throwing it out there.

SO, IS PET INSURANCE WORTH IT THEN?

Pet insurance helps cover bills, thus saving you money when your pets are injured. It also increases certain treatment options available to your ill pet. 

So ja, I would defs say investing in pet insurance is totally worth it, so YOU don’t have to choose between financial stability and your pet’s life – like EVER.

Because, even though economic euthanasia isn’t tracked in South Africa, experts say that in America, two-thirds of pets are put to sleep every week due to owners not being able to afford the treatment/bills.

That is the saddest statistic I have come across all day and life should NEVER have to be that grim. 

TO SUM IT ALL UP

Prevention is better than cure. However it’s important to remember that you cannot always prevent; and if you must cure – just be financially prepared like a legend to do so.

Our pets are our family, thus investing in something affordable, dependable and potentially life-saving can help prevent heartache and you from potentially digging into your family’s savings too.

ARTICLE REFERENCES:

https://compareguru.co.za/news/pet-insurance/

https://www.iol.co.za/personal-finance/insurance/does-having-pet-insurance-really-make-financial-sense-23723818

https://www.marketwatch.com/story/the-pros-and-cons-of-pet-insurance-2017-04-13

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