Pets can cost a pretty penny. Food, bowls, leashes, litter… They can cost quite a bit, especially if you’re determined to do right by them and provide them with everything they could dream of such as appropriate toys and the highest quality food available. Is it really worth your money to pay out even more for pet insurance, when it’s possible that your pet will never need it?
The answer to this question is not as simple as a plain old yes or no. It varies from family to
family. Your monthly income is the biggest factor, but not in the way you think. Pet insurance is available for under a tenner per month, and any but the most destitute of incomes allows for such an expenditure. But if you earn thousands of pounds’ worth of disposable income every month, it may not be worth it in terms of being able to afford any emergency costs out of your own pocket.
Some sort of financial cushion is absolutely imperative to adequate pet care, to provide veterinary assistance where necessary. This needn’t come from pet insurance if you prefer not to pay for that, but savings are important if you won’t pay for the insurance fees. A savings account specifically for veterinary care can come in very handy, and a few thousands of pounds set aside will meet most emergency needs.
Many owners of indoor-only cats feel no need to take out pet insurance as their cats are protected from risks such as traffic, predators, and violence that would be perpetrated only outside of the home. It is true that indoor-only cats are protected from these issues and that they live three times as long as outdoor cats on average, but they are still able to injure themselves in the course of daily life; they can fall, be stepped on by mistake, or become trapped in or under objects. They can also escape, whether on purpose or by mistake, and this can be more harmful to a cat which is used to being inside as they will be less familiar with the world outside the door.
Additionally, any pet can contract a disease or accidentally eat something poisonous. There is no way of protecting your pets from absolutely every health condition they could fall victim to, and having a vet fund or insurance policy can help you when this happens. Some policies also include a set amount to hang flyers and offer a reward if your pet becomes lost – another expense you would otherwise be budgeting for in terms of savings account.
When a pet falls ill or becomes injured, time is often of the essence. Having the funds available immediately can make the difference between a pet who recovers and one who is put humanely to sleep – or worse. Insurance is not the only way to achieve this security, but if you are unable to set aside enough money, or pay it out of pocket on a moment’s notice when something goes wrong, then it certainly is the most cost-effective, efficient way of protecting your pet.