The fall is a great time to spend time with family outdoors, watch football and participate in fun activities like apple and pumpkin picking. It can also be a great time to fine-tune your personal finances and bump up your insurance protections. With a renewed focus on what’s working and what’s not, you can better position yourself financially for the holiday season and into 2024.
For pet owners, this can mean securing an insurance policy for their cat or dog. By getting a policy in place now, owners can get reimbursed for a wide range of veterinarian visits, treatments and medications — putting some money back into their wallets for a rainy day. In fact, there are some compelling reasons why owners should get pet insurance now.
3 big reasons to get pet insurance now
Here are three big reasons why owners may want to get a pet insurance policy now.
Your budget may be tight
Finances are limited for millions of Americans right now. Nagging inflation and the elevated interest rates meant to combat it have hurt the pocket of many Americans, leaving little left over for additional expenses. While it may seem counterintuitive to pay for an additional insurance policy, pet insurance could save you significant sums of money over the long term. This is especially true if you have a certain breed known for needing more medical care. In these instances, a pet insurance plan may pay for itself in just a few visits.
Crunch the numbers to see if it’s worth it for you. Get a pet insurance quote in 30 seconds here.
Winter is coming
Falling leaves and autumn foliage can be pretty to look at but they precede the colder, darker winter months. And snowy weather could be hazardous for your pet, particularly dogs who spend a substantial amount of time each day outdoors. Slippery, icy roads and sidewalks can be problematic, leading to potential injuries.
The American Veterinary Medical Association (AVMA) has previously warned about the potential for pets to get hypothermia or frostbite during these months, too. The weather could also be an issue for those pets suffering from medical conditions like arthritis. “Arthritic and elderly pets may have more difficulty walking on snow and ice and may be more prone to slipping and falling,” the AVMA notes.
There’s a waiting period to complete
While pet insurance is easy to apply for and simple to operate once secured, it won’t happen overnight. Most pet insurance providers institute a mandatory waiting period between the time your application has been approved and the insurance coverage is ready to use. The exact time period varies but can be up to a few weeks. So, if you know you need coverage now or will need a plan in the near future, it pays to get started soon.
“The 15-day waiting period, which begins the day after you enroll, is a set period of time before your coverage kicks in and you can be paid back for claims,” Fetch by the Dodo explains.
“We cover injuries and illnesses that occur after the waiting period is over. Any claims you submit during the waiting period will not be covered. Any injury or illness that occurs during the waiting period will be considered a pre-existing condition, which means it won’t be eligible for coverage,” the insurer notes.
You can easily check pet insurance prices here or use the below table to compare some top providers on the market.
The bottom line
There’s never a bad time to purchase pet insurance, but there are some instances where it may be more useful than others. For many owners, now is a great time to get started. By securing a pet insurance plan now, owners can secure peace of mind knowing that they’ll be protected against rising pet care costs. And, they’ll be better positioned for the colder winter months when pets could get sick or injured. Finally, by applying now they’ll more easily complete the mandatory waiting period, allowing for their policy to be ready for use in the months and years to come.