To spring or not to spring into pet insurance

We all love our pets, and there isn't anything we wouldn't do for them. But, when our furry friends get hurt or sick, the medical expenses can sometimes be more than our budget can handle. That brings us to the subject of pet insurance, is it really worth the investment? – The answer isn't as simple as you think.

Lets start with the three different types of coverages you can get.

1. Accident coverage is the most common, and every pet insurance company should offer this regardless of your pet's age.

2. Illness coverage is more limited, and becomes more expensive as your pet gets older.

3. Wellness coverage is for routine annual exams, and according to consumer reports and checkbook.org, it's not generally worth the cost. The annual check-up is usually something that you can safely cover on your own. In this case, paying your vet directly can help you avoid the extra sales charge from the insurance company.

Before you choose from the different types of coverage's, be sure to incorporate the following pointers below:

KNOW WHAT WILL BE COVERED
Do a little research; understand exactly what the insurance will cover. Coverage varies from policy to policy, so pay close attention to the terms for each plan. In general, most policies will cover diagnostic tests, surgeries, medication and treatment. Dental work and pre-existing conditions are usually not covered.

FACTORS THAT WILL AFFECT THE COST
One last thing to consider is the factors that will affect the cost of your insurance. While most companies offer a variety of plans for every budget, how much you pay depends on factors like, where you live, your pet's health history, breed, age and gender, the deductible, and the amount of coverage. Keep an eye out for premium increases too, which can vary by state.

So, is pet insurance really worth it? – It really depends on your financial situation and how much you're willing to pay for some peace of mind. When it comes to providing long and happy life for your pet, a little financial planning can go a long way.

Click through the pictures below to see 26 pets that are ready to love you!

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