Pet insurance in Canada is sometimes misunderstood and overlooked. Many people don’t understand the value of insuring their pets. But what happens if you don't insure your beloved cat or dog?
Before we talk about that, here are some notable pet insurance facts in Canada:
- Almost all pet insurance plans include coverage for accidental injury and illness, such as broken bones or cancer treatments. Some even offer dental coverage.
- Many pet owners only buy pet insurance when their animal buddies are already sick (But by then, it’s often too late).
- Most pet insurance companies in Canada do not cover pre-existing conditions. This means any condition that first occurred prior to the insurance policy being in place and waiting periods cleared.
- Less than 3% of pet owners in this country have an existing pet insurance plan. This leaves pets and pet owners open to financial and medical uncertainty.
Here are some risks associated with not having pet insurance in Canada:
You'd be forced to pay for your pet's medical care
The first is that you may be unprepared for unexpected veterinary costs. Say your cat or dog becomes ill or injured; you're looking at spending potentially thousands of dollars in veterinary bills to care for them. Without pet insurance, you will be stuck footing the bill yourself.
This is, in no way, an ideal situation. Aside from a lack of financial preparedness, it can also leave our pets open to medical uncertainty when they need our support most.
It's possible extensive vet care may be unaffordable
You may be unable to afford the more expensive and complex treatments when it comes time for your pet's care. This is especially true if you're dealing with a pet illness or injury that requires expensive medications and procedures that may not be within your budget.
One notable example is a dog needing a costly hip replacement. Without pet insurance, you may be forced to opt for a less expensive alternative that won't provide the same quality of care or, even worse – forego the treatment altogether.
Your pet's health could suffer in the long term
Not providing a pet with care when they need it can lead to long-term health problems, and in the most heartbreaking cases, premature death. Providing great veterinary care for your pet can leave you with a financial burden, but it can also avoid immense emotional pain. We bring pets into our lives to allow them to live happily and healthily. Part of that responsibility is ensuring they don't suffer avoidable gaps in veterinary care when they need it most.
You may also risk your pet's emotional well-being
Veterinary care is essential for the physical and mental well-being of pets. If you don't have the financial means to provide them with the necessary care when needed, this could lead to avoidable stress and behavioural issues.
A great way to avoid these issues is to invest in pet insurance for your furry friend so that you can give them the medical attention they need when it’s needed. With pet insurance, you'll have access to the best ongoing veterinary care and be able to protect your pet's emotional well-being too.
Final Thoughts
The bottom line is you're always at risk if you choose not to insure your pet. Pet insurance is not always expensive (although it can be) depending on the breed, age and location of your pet.
Getting pet insurance is a great tool to help protect you and your furry friends against unexpected medical bills. And yes, consider it as an investment rather than an added expense. Spend time researching the best policies for your pet, that's your best bet to make the most of your investment. Check out our guide to pet insurance in Canada for more detailed information on how it works.
Ultimately, it’s a good idea to insure your pet and thankfully, PHI Direct makes buying pet insurance that much more affordable. Get a quote today and get quality coverage at a low monthly cost.
