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June and the warmer summer months come with the prospect of fun outdoors and a return to steady exercise for some pets. For pet owners, however, this June may also mark a smart time to improve their budgets with a robust and cost-effective pet insurance plan. With policies averaging less than $100 per month (often cheaper if paid annually), owners can secure coverage for a wide range of needs (and even some surprising items that they may not have known about).
But as is the case with many financial products, there are some better times to purchase pet insurance than others. Fortunately, this June appears to be one of the latter. Below, we’ll detail three big reasons why you should consider buying pet insurance this June.
Start by getting a free pet insurance price quote to see what it could cost you.
3 big reasons to get pet insurance this June
Here are three compelling reasons why pet owners may want to pursue a pet insurance plan this month.
Economic relief may be delayed
The latest inflation report and the new announcement from the Federal Reserve on the future of interest rates will be released on June 12. And if the former is still high – or simply higher than economists would like – then interest rates will remain elevated. This means that you will pay more for everyday expenses and that anything you borrow will cost more in interest. With this potential combination looking more realistic, pet owners must look for ways to reduce their out-of-pocket expenses. Fortunately, pet insurance can help by covering a variety of treatments, veterinarian visits, medications and even some procedures. So don’t wait and get stuck with another round of expensive bills.
Get started with pet insurance here now.
Your pet is more active
If you’re a dog owner, the warmer spring and summer months may be when your pet is most active. Unfortunately, this is also a time when accidents ranging from sprains to fractures become more prevalent. Orthopedic issues, in particular, can be pricey for owners to pay for on their own.
This June, then, would be a smart time to start shopping for pet insurance providers. While you may still need to pay for service at the time rendered, unlike your current circumstances, you can rely on a reimbursement check in the mail from the company you choose. But timing here is key as you won’t be able to just choose a provider, pay your first month’s premium and enjoy full coverage.
A waiting period needs to be completed
If you want to be insured on or before June 30 for the above reasons then you’ll need to be proactive. That’s because most pet insurance companies mandate the completion of a waiting period between the time you’re approved for a plan and the time coverage kicks in and you can start submitting claims (this is why many advise against waiting for your pet to get sick before applying for pet insurance). While these waiting periods typically only last 10 to 14 days, it could mean the difference between having coverage for your pet’s dog park injury or not this summer. So don’t wait for an ideal time to apply; get started today.
The bottom line
For pet owners contemplating purchasing pet insurance, this June marks an opportune time to act. Because wider economic relief looks delayed, thanks to inflation and elevated interest rates, owners can benefit from the cost-savings a pet insurance provider can offer. And with the prospect of outdoor injuries higher during this time of the year – and a mandatory waiting period that will need to be completed regardless of when you apply – it makes sense to be proactive today. By doing so, you’ll secure financial protection for yourself and medical protection for your pet, allowing you both to more fully enjoy all that this June and the warmer months have to offer.
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
