Pet insurance is coverage designed to provide you with financial support towards professional veterinary care in the event of unexpected medical costs. Regardless of your income or financial situation, if you’re like most pet owners, you don’t have the funds set aside to provide potentially costly veterinary care should your pet need it. This is likely one of the reasons you initially decided to protect your cat or dog with coverage.

Having pet insurance ensures you don’t have to compromise the quality of care your pet receives in the event of an unexpected accident or illness. With the ability to save up to 70%, 80% or 90% on your veterinary bills, you can provide your cat or dog with the treatment they need, when they need it without breaking the bank.

While your pet insurance policy may not “pay off” each year, it is invaluable to have should an unexpected accident or illness occur, and often outperforms a savings account set up to cover veterinary expenses.

If you’re considering cancelling your pet insurance policy for any reason, please consider the following risks associated with cancelling and don’t hesitate to reach out to us to discuss your options further. Whatever the reason, we want to work with you to ensure your pet remains covered in the event of an accident or illness.

  • The onset of an ongoing chronic condition: It’s possible that your cat or dog has had no medical issues to date, or has only had one or two minor incidents or conditions arise. While we hope this remains the case for you and your pet, the reality is that 90% of conditions arise in the last 10% of your pet’s life but can happen at any time. Should a chronic condition, such as degenerative joint disease or kidney disease, arise during a period when your pet is not protected by insurance, you will be ineligible for coverage for diagnosis and ongoing treatment.
  • Pre-existing conditions should you move to another company: If you make the decision to cancel your pet insurance policy, any conditions that have been covered under your current plan will be viewed as pre-existing by other insurers. In addition, any conditions that arise when you do not have a pet insurance policy in place, will be an exclusion on any future policies.
  • Unexpected veterinary bills: While your pet may be happy & healthy now, unexpected veterinary expenses can arise at any time causing undue stress related to finances or compromising the care your pet receives. Without the support of pet insurance in times of need, you may risk:
    • o   Limited care for your pet: Not having financial support to cover veterinary bills is likely to have you worrying about your pocket book on top of caring for your pet. This will distract you from your number one priority, your cat or dog, and potentially factor into your decisions regarding treatment.
    • o   Going into debt or depleting your savings: Regardless of whether you limit your pet’s treatment due to finances, you will still have to pay for all of the veterinary expenses out of your own pocket. Without a pet insurance reimbursement, this may send you into debt or having you pulling from a savings account that was set up for another expense, such as a vacation or home improvements.
    • o   Economic euthanasia: It’s tough to think about, but many owners without insurance are faced with the decision to pay for high cost veterinary treatment or to end their pet’s life. While this decision is never taken lightly and is generally a factor of personal finances, age of the pet, and the severity of the diagnosed condition, pet insurance can help ensure your pet lives a long and happy life.

If you have any questions or concerns about your policy, please reach out to our friendly Advocates at 1-800-364-8422 or [email protected].