Does your pug need pet insurance?
As a responsible dog owner, you want only what’s best for your pug. With that said, you may be considering whether to get pet insurance for your pug. We recently covered How Much Does a Pug Cost, both initially and and factoring in long-term costs such as health.
Though pugs have a relatively long life span, it’s well known pugs have a ton of health issues.
Pet insurance can be pricey. In 2021, the average cost of accident and illness pet insurance was nearly $600 annually or almost $50 monthly (North American Pet Health Insurance Association, 2022). So, it’s understandable that you may be on the fence regarding whether you need pet insurance or if you can afford to pay out-of-pocket later on.
So let’s say health insurance is $50/mo, at the end of the day – is pet insurance worth it for a pug?
At $50/mo, and let’s just be conservative and say that your new pug puppy will live to 12 years… 12 months x $50 x 12 years = $7,200.
And of course you could use the argument that instead of paying for health insurance, you can take that $50/mo and invest it into an account for your pug. Using the historic average of the S&P at 10%, a $50 monthly contribution over 12 years compounded annually at 10% would be $12,830 in 12 years.
Of course, all easier said than done and it’s based on a lot of assumptions (eg. you actually set this up and don’t draw from it for 12 years).
And what about if your 4 month old pup requires a surgery that costs $5000? It’s been 4 months and your pet investment account is at a mere $200.
With Benji, my first pug, I didn’t opt for health insurance.
I don’t have the exact calculations but I’m guessing I ran about breakeven in the long-run paying cash vs pet insurance. Benji did have a few health issues and did have to have surgery to remove a benign tumor.
But because I didn’t have health insurance, I was much more cost conscious and hesitant to take Benji to the vet knowing every time I walk-in, I’d be walking out with a fat bill.
This post isn’t sponsored or anything so there is no bias, kickback, etc. So in my humble opinion, for a pug, a dog known for many health issues, I would recommend pet insurance.
To help you make an informed decision based on your pug’s specific situation, I’ve compiled a guide to give you all the necessary info. Read on below to learn more.
How Does Pet Insurance Work?
Similar to human health insurance, pet insurance alleviates some of the costs of keeping your pug healthy. You’ll be able to choose from different levels of coverage, with each plan costing an annual or a monthly premium – depending on how much coverage you select.
Some plans cover only accidents; on the other hand, there are more comprehensive plans that would cover accidents, illnesses, and genetic conditions.
Pet Insurance Pricing
The more scenarios your pet insurance covers, the more expensive it will be. So, accident-only coverage will be the most affordable, while accident and illness coverage will cost you more. The most expensive plans will include wellness care and – in some instances – death-related expenses.
Lots of plans have a deductible. This deductible is an amount that you’ll need to pay before coverage kicks in. Depending on your chosen policy, this could cost anywhere from $0 to $2,500 in one plan year. Most often, higher deductible plans yield lower monthly premiums.
Human health insurance typically works on a co-pay basis; you’d pay a certain amount, and the insurance will cover the rest. Conversely, pet insurance is mostly a matter of reimbursement. So, you’d pay the full cost and the pet insurance company would reimburse you for it.
What Does Pet Insurance Cover?
Pet insurance coverage varies from policy to policy. Your pet insurance policy will state how much the insurance company will pay for your pug’s medical expenses.
Accident and illness pet insurance plans usually cover:
- Toxic ingestion
- Broken bones
- Dental illnesses
- Chronic conditions
- Emergency care
- Surgery
- Prescription medication
On the other hand, an accident-only plan will only cover vet expenses related to an accident. For example, it may cover costs associated with your pug’s torn ligament.
As mentioned earlier, some pet insurance plans may allow you to add wellness care coverage. This kind of add-on may cover expenses like routine check-ups and vaccinations.
What Does Pet Insurance Not Cover?
There are certain expenses that pet insurance policies typically don’t cover. These include:
- Experimental Treatment. Pet insurance won’t cover any treatment that’s experimental or investigational. If your pug’s course of treatment isn’t within the standard of care set by the veterinary medical board in your state, it’s likely pet insurance won’t cover it.
- Grooming. Pet insurance won’t cover grooming services like baths and nail trims.
- Non-veterinary expenses. Your pet insurance doesn’t cover non-veterinary costs. These expenses may include waste disposal expenses.
Should You Get Pet Insurance?
Like most other types of insurance, you won’t save or make money in average scenarios. But in case you have a pet emergency, you may find that pet insurance for your pug is worth it.
Even if your pug is healthy, you can’t predict whether your pug will contract any illness or have any injuries in the future. Knowing that you have a safety net in place in case the unthinkable happens would be valuable enough.
If you’re undecided about whether to get pet insurance at this point, it may help to think that getting pet insurance for your pug will give you the freedom to make medical decisions for your pet based on quality of life instead of finances.
If you do decide to get pet insurance for your pug, it’s best to start the insurance policy while your pug is young and healthy.
Each Pet Is Different
Each pet is different. Among dogs, pugs are prone to developing brachycephalic obstructive airway syndrome (BOAS). Due to the compressed noses of pugs, they may have more difficulty breathing and cooling down in specific scenarios (Purina, n.d.).
Even among pugs, your pet may be more prone to certain illnesses. It’s crucial you take the time to talk to your vet to get an idea of your pug’s potential health problems. They may even be able to recommend insurance for your pug.
Are There Pet Insurance Alternatives?
Although pet insurance is a sound choice for most pug owners, your specific preferences and situation may push you to explore alternatives. If this is the case, there are other ways you can responsibly prepare for any medical emergencies your pug may face. Here are a few pet insurance alternatives.
Pet Care Credit Card
You may opt to get a pet care credit card. Getting a card for pet care will ensure you have enough money to pay upfront for vet bills. It’ll also let you pay off your balance in manageable chunks over time.
Of course, one downside to getting a card for veterinary care is that you’ll pay more due to interest.
Community Health Sharing Plan
Another alternative to pet insurance that’s rising in popularity is to join a community health sharing plan. You’ll join a group of pet owners who’ll share veterinary expenses. In most cases, you’ll pay a monthly membership fee and will maintain a deposit to help cover the vet costs of other plan members.
Pet Care Savings Account
Instead of getting pet insurance, you can create a dedicated savings account for pet care expenses. Deposit a small amount regularly into your pet care savings account, so you’ll have a reliable lump sum of money to spend in case your pug gets sick or injured.
One advantage to this alternative is that if you don’t end up spending the money on vet bills, you still own the money. So, you can spend it on something else or continue to save it for future vet bills.
The downside to this approach is that it could take too long for you to save up enough money in your pet care savings account to fund an emergency vet visit. This may happen if an emergency occurs while your pet is still young and you’ve only gotten a small amount of cash deposited into this account.
Fundraisers
Fundraisers allow friends, family, and strangers to pitch in and help you pay for your vet bills. Fundraising may be a good option, but it’s risky – you’re relying on the kindness of others to take care of your pet’s bills. If you’re unlucky, you may not be able to raise enough money to cover your pug’s medical expenses.
Fundraisers may not be the best pet insurance alternative out there, but it’s available as a last resort.
Final Thoughts
To recap, I’ve talked about how pet insurance works, what it covers, and what factors will affect how much you’ll be paying.
I advocate for pug owners to sign up for pet insurance plans. In most cases, it’s worth it. But if pet insurance isn’t an option for your pug right now, know that there are other alternatives you can fall back on in case you need to.
References
North American Pet Health Insurance Association. (2022, May). Pet Insurance in North America – State of the Industry 2022. https://naphia.org/industry-data/section-3-average-premiums/
Purina. (n.d.). Top 9 Pug Health Problems to Look Out For. Retrieved November 11, 2022, from https://www.purina.co.uk/articles/dogs/health/symptoms/pug-health-problems
