Philadelphia (CBS) — It’s so unfortunate that in most cases it is finances alone that prevent sick or injured pets from receiving the veterinary care they desperately need. For this reason pet insurance is quickly becoming the practical solution for paying those high costs associated with unexpected visits to the vet. It seems that more and more companies are offering pet insurance, including the ASPCA.

But before making this decision, first determine if it’s even beneficial for you and your pet. Know that most companies will not cover older pets, and they will not cover the costs of any pre-existing conditions. The ideal candidate, then, is a young, healthy animal. So, the best time to purchase pet insurance is while your pet is still a young puppy or kitten.

How it works is that ultimately while you are responsible for paying the veterinarian at the time of treatment, the insurance company will reimburse you once they receive all the necessary claim forms.

Pet insurance may not be right for everyone but if it works for you, do yourself a favor: do your research, shop around and compare.

Reported By Nan Talleno, KYW Newsradio