Is yours a household with more than one pet? Do you realize how blessed you are? And, more to the point, have you got multiple pet insurance for your non-human family members? It’s simple to get your pets insured, it’s safer for their health, and it will save you money! As a pet caretaker, you can benefit from an insurance plan that covers multiple animals under the same insurance company. Let’s find out how.
Why Should You Get Insurance for your Pets?
Because you love them more than life itself, and would do anything to give them a good life?
Ahem, sorry. Need to be practical here. Our cats, dogs and hamsters can fall sick, just like we do, and their medical requirements can get super expensive, just like ours. A one-time trip to the vet can cost an average of $212 for a dog and $160 for a cat. When it comes to surgery, the cost can go up to $426 for a dog and $214 for a cat. Having pet insurance cover a big part of this cost is a no-brainer.
You may hesitate to add extra insurance costs to your family’s monthly budget, thinking your little puppies are too healthy to fall sick. And, yes, thanks to the pandemic, money is a little tight for everyone. But, hold up there. Among the sad facts of life is that the young get old, the healthy can fall ill. What we can do to prepare for that is invest in a solid pet medical insurance plan (just like we do for ourselves), so we do not end up in a situation where we have to shell out thousands of dollars from our savings for an emergency procedure that no one saw coming.
According to the new Money.com-Morning Consult Report on pets and pet spending during the pandemic, pet owners “would spend big to save their animal,” with two-thirds saying they’d take any measure to save its life, regardless of cost. Eight in ten would take any measure they could afford. That is very admirable indeed, but unnecessary if you are in a position to afford pet insurance.
Check out the interesting survey results regarding medical care for pets (part of a comprehensive survey conducted by Money.com).
What is Multiple Pet Insurance?
Did you know that about 60% of dog owners own two dogs, and that 80% of cat owners own more than two cats (source)? If you own many pets, and are frequently making your way between your home and the vet clinic, you know that medical expenses can rack up quickly. And, when it’s an unplanned procedure (like when my cat swallowed a shoelace and needed major gastrointestinal surgery to save her life), the costs can wipe off your savings (like it almost did for me).
So, multiple pet insurance: If you have more than one pet, instead of getting individual insurance plans for each of them, you can club all the plans under a single insurance brand – and get a discount on the total. Let’s get the details clear: a multiple pet insurance plan isn’t a single plan that covers all your pets. It’s basically a multiple plan under a single insurance company.
Your 12-year-old dog has different needs from your 3-year-old dog, and someone’s 6-year-old cat has very, very different needs from their 5-month-old puppy. It’s not currently possible to insure all your animals together under a single plan. What is possible is to ‘enroll’ all your pets together, i.e. combine all their individual plans under one insurance company – and get a sweet discount while you’re at it.
If you are a pet parent with multiple pets, please invest in multi-pet insurance. It protects you from unexpected medical bills, and also ensures your pets get the medical care and attention they need (data shows pet owners with pet insurance go to the vet almost twice as often as those without insurance).
Multi-pet coverage varies from provider to provider, and there are many. But you can negotiate up to a 10% discount for insuring multiple pets under a single insurance brand.
How Often Should You Visit the Vet?
Take your pets for a check-up at least once per year when they’re adults. Until they grow up, take your puppies and kittens for a visit once every other month at least.
Pet medical insurance usually covers physical exams, routine treatments (teeth cleaning, vaccinations, grooming), and sometimes even a wellness treatment, if covered.
Bringing your pets to the vet this often (because you’ve insured them, woohoo!) can help you monitor them and identify troubling symptoms in time. Ignoring symptoms and having to undergo a major procedure is not only more expensive, but also extremely stressful for everyone involved. Whereas, identifying symptoms can bring in some preventative treatments that minimize the need for major intervention. A stitch in time saves nine and all that.
Knowing your pets are all covered for any medical situation is a huge load off your back. Frankly, in uncertain times like these, it’s always best to be as well prepared as possible! Because when emergencies show up, they don’t quite follow the plan you’ve chalked out for them.
How Much Does Pet Insurance Cost?
The monthly premium for your pet will be based on the species, age, size, and breed – as well as the zip code you live in. pet’s species, age, size, and breed. Costs every month can vary from $10 to over $150 and more, and what you opt for depends entirely on your pets’ requirements and your financial situation.
When there are so many variables, one thing you can do to reduce the paperwork, stress and confusion is to enroll all your pets in the same insurance company, under a multiple pet insurance plan. Plus, there’s the discount you get…
Discounts for Multiple Pet Insurance Policies
Pet insurance companies offer discounts for multiple pets. These discounts vary, of course, but most insurance companies offer an incentive of some sort when you insure more than one pet with them.
ASPCA Pet Health Insurance offers a 10% discount when you insure two or more pets. The discount is applied for every additional pet you insure under their brand. As an example, if your dog’s monthly premium is $60 and you then add your cat to the plan at a premium of $50, you will only need to pay $45 for your cat. So, instead of a total of $110 per month, you pay $105. This adds up to a saving of $60 annually. The conditions covered by ASPCA Pet Health are here. (Note: ASPCA doesn’t directly offer the insurance. They’ve partnered with insurance company Crum & Forster – who underwrites their insurance – to offer pet insurance.)
Embrace Pet Insurance and the GEICO Insurance Agency have teamed up to offer insurance for cats and dogs, and they offer a multiple pet discount as well.
These plans are all for cats and dogs only. For birds and exotic pets insurance, check out Nationwide Pet Insurance.
How to Choose the Right Pet Insurance for Your Pets
Coverage of the policy
The accident or illness plan is a basic plan for emergencies – for when your pets get injured or sick. An accident-only plan will cover accidents only, and a Wellness plan can be added to cover vaccinations, flea treatments, and so on. There are many such add-ons that can be clubbed together based on the specific needs of your pets. The complete coverage plan includes all the various situations covered (although most providers don’t cover pre-existing conditions; Pet Assure does claim to cover pre-existing conditions, so check it out if it’s a concern for you.).
Look at the monthly premium, annual deductibles, reimbursement percentage, and your annual coverage limit. Some plans have an unlimited annual coverage limit – thought of course, that may get reflected in a higher monthly premium.
Head to Pawlicy Advisor for various pet insurance options with multiple pet insurance discounts, and what they offer. Compare the various plans and find the right one for you and your furry loved ones!
In Short, Insure Your Pets
It’s the smart thing to do, and I hope this post on multiple pet insurance has convinced you to protect your pets’ health (and your finances).
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