Pets are beloved members of the family. They keep people company, play around the house, and help brighten up one’s mood. However, pet ownership also presents a significant amount of responsibility. Like humans, pets can fall sick and need expert care, which can be expensive. Pet insurance helps people save money on health and other costs linked to their furry friends. However, one must avoid making these ten mistakes when buying a policy. Buying insurance too late People often wait for their pets to get sick before buying insurance. This approach can be rather expensive for two reasons. First, insurance becomes expensive as a pet ages and/or develops health issues, likely leading to higher premiums and less coverage. Second, insurance providers may refuse to offer coverage for pre-existing conditions, leading to total disqualification or minimal coverage from the plan. To ensure their pet is covered under the best insurance plan, individuals must buy insurance while their furry companion is still young and free of severe health conditions. Thinking of it as a savings plan Pet insurance is neither an investment nor a savings plan. It is a risk management tool meant to protect against unexpected health conditions. The plan is similar to homeowner’s insurance, which helps people avoid financial stress during unexpected events, such as a fire or a flood.