Ask any pet owner and they will tell you their pets are members of their family. We’d do everything for our four-legged family members to keep them happy and healthy.
But if you think pet insurance could save you money on routine checkups or emergencies, you might be wrong!
Experts say, though, that there are alternatives to paying a pricey insurance premium that still allow you to get your pets the health care they need.
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In a recent survey, Consumer Reports found that not all pet insurance parents are satisfied, and there might be better ways to save on medical care for your furry friends.
“In our survey, over 2,000 members shared their experience with pet insurance covering. Everything from what’s actually covered to the premiums they paid and the claims process for getting reimbursed. And overall, there was no real top dog. In fact, most of the results found that the insurance companies were all pretty middle of the pack,” explained Consumer Reports Investigative Reporter Brian Vines.
Consumer Reports looked at survey data on eight pet insurance providers. On average, the total cost was around $47 per month per pet.
Six earned just a midrange overall satisfaction score:
- Pets Best
- Embrace
- Trupanion
- Healthy Paws
- ASPCA
- Nationwide Pet Insurance
Two providers bottomed out with unfavorable ratings:
- Fetch
- Banfield
Affordable health care without insurance
So, what are those better ways to get your beloved pets the health care they need but at a price you can afford? Vines said one option is to pay yourself -- not an insurance carrier.
“Self-insure by putting away money every month into a direct deposit high-yield savings account that you can draw from should your fur baby need some medical assistance,” he suggested.
CONSUMER REPORTS: Alternatives to pet insurance
If you’re struggling to afford medical care for your pet, you can also look into low-cost veterinary services that are available for dogs and cats throughout Northeast Florida. You’ll find reduced costs on things like routine care and preventative care, as well as spaying and neutering. Helpful links we found include the following:
Consumer Reports says you can also try telehealth vet services like Bond Vet and Pawp for non-emergency care!
More affordable option for pet medication
If your pet needs medicine, Vines said to shop around. Ordering medications online from places like Chewy, Petco, PetMeds, and Walmart Pet Pharmacy can be cheaper.
Consumer Reports said online retailers are able to purchase medications in bulk and pass those cost savings on to consumers. But, if you are shopping around online and you find an unfamiliar site selling pet meds, you need to make sure the pharmacy is licensed and legitimate. You can check a business through the National Association of Boards of Pharmacy.
Learn more from Consumer Reports on ordering pet meds online here.
Know this about pet insurance
If you are still considering pet insurance, Vines said there are some things you need to know:
- Preexisting conditions are usually not covered.
- There are usually annual caps. If you hit that limit, you’ll have to pay out-of-pocket.
- You might be responsible for paying the provider directly and then filing for reimbursement with the insurance company.
Whether pet insurance is worth it or not depends on each pet owner.
“If you’re looking for a return on investment, maybe not so much, but if you value peace of mind, pet insurance may be something that you want to pursue,” Vines said.