You love your pets and you think of them as family, which is why you may be considering the option to buy a pet insurance policy. Specifically, pet insurance is designed to help cover medical expenses related to your pet’s well-being. Before you decide to shell out your hard-earned money for a policy, however, there are a few questions you’ll want to ask yourself.

What Kind of Pet Do You Have?

member-benefits-pet-insuranceFirst and foremost, what kind of pet (or pets) do you have at your home? Studies have found that dogs are among the most susceptible to injuries and medical problems, so if you have a dog, then it might be worth your money to invest in an insurance policy. The same goes for outdoor cats, which are also more prone to injury than strictly indoor pets.

On the other hand, if you have a pet that lives solely indoors or isn’t at a high risk of injury or illness, you might want to think twice before you buy a pet insurance policy.

How Old is Your Pet?

Age is another factor to take into consideration when it comes to buying pet insurance. As your pet ages, it becomes more likely to need medical care. As such, many pet owners choose to put off buying insurance early in their pets’ lives but invest in a policy as they reach an older and more susceptible age.

However, if your pet is older and already has some medical conditions, then you’ll want to check the fine print of a pet insurance policy before you decide to buy one. In many cases, pre-existing medical conditions may not be covered, so you’ll want to be aware of this before you decide to purchase a policy. If that’s the case, you may want to shop around for a policy that doesn’t have limitations in place when it comes to pre-existing medical conditions.

Where Do You Live?

Finally, don’t forget to take where you live into consideration when determining whether or not a pet insurance policy is best for you. Generally, pet insurance is a sound investment for those with pets in larger cities—especially pets who lead active lives outdoors and are thus more prone to injuries from other animals, cars, and pedestrians.

If your pet lives a more subdued life and you’re located out in the country (where there are fewer risk factors threatening your pet’s well being), then a pet insurance policy may simply be worth it for you to have the peace of mind in knowing that your pet is taken care of in the unlikely event of an emergency.

Ultimately, you’ll need to carefully weigh the benefits and potential drawbacks of a pet insurance policy before you can make a well informed decision. Should you choose to buy a pet insurance policy, you can find a variety of plan options to suit your needs and budget from Member Benefits. And should you choose to bypass a pet insurance policy, be sure to have an emergency fund set up for any vet bills that may arise.