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Is Pet Health Insurance Worth It

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What Are Some Common Pet Injuries And Illnesses

Is pet health insurance worth it?

To paint a picture of some common health issues facing pets and the costs associated with them, who better to reference than a pet insurance provider itself.

The conditions mentioned below are included in Healthy Paws annual Cost of Pet Health Care Report and are based on claims submitted by policyholders in 2019.


While the largest claim shown is not representative of the whole and will likely be much less for the average pet, its important to get an idea of what that upper bound may be for veterinary care per condition.

Unfortunately, we were not able to find a data source for the average cost of each of these conditions.

Downsides Of Pet Insurance

Unfortunately, there are also some downsides to buying pet insurance. One of the biggest downsides is that most pet insurers do not cover pre-existing conditions. This means if your pet is already sick, you wont be able to get insurance to cover the cost of care for that particular condition.

Another downside to pet insurance is you wont end up saving much if your pet never develops any health problems and only ever needs routine checkups. If your pet is generally healthy, you may be better off with a pet insurance alternative such as Pawp or Pet Assure.

Of course, its true of human health insurance that if you stay healthy, you probably wont get your moneys worth. Sadly, its less likely youll need only basic care as your pet ages, as many older animals develop medical conditions that require more expensive treatment.

Pet insurance also may not cover any treatments considered experimental or performed outside of the United States, and most policies have annual limits. So, if you need truly expensive care, you may not be able to get it fully covered.

Ready To Get Pet Insurance

Its easy to become confused with all the insurance lingo, pricing plans, coverage, etc. Thats why were here to help. Were pet insurance experts, so feel free to ask any questions below. If youre ready, head on over to our pet insurance reviews to see the current rankings of our top recommendations and why we think theyre the best in the business.

Do you have enough information to choose the right pet insurance plan for you?

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Wondering If You Should Invest In Pet Insurance Experts Weigh In

My two pets are incredibly important to me, my children, and my husband, and I will do whatever it takes to keep them healthy and happy. My 14-year-old Maine Coon cat had a sudden and frightening bacterial infection a few weeks ago, while my 10-year-old miniature pinscher dog was recently diagnosed with a collapsed trachea. The vet bills for both of my fur babies were quite high, so this got me to wondering about pet insurance and whether or not it is worth the costs. I talked to several pet trainers who gave POPSUGAR their take on pet insurance, both professionally and as pet owners.

Finding The Best Plan

Pet Health Insurance: Is It Worth The Gamble ? (With ...

When you begin your quest to find the best pet insurance for your loved one, you will save a lot of time and hassle if you start with a highly reputable resource. Turning to a trusted site like, featured in The Washington Post, will streamline your search to legitimate pet insurers. While you compare plans, keep in mind the distinctive characteristics and requirements of your pet which will determine which insurance type is right for you.

Your pets breed, size, age, and the state you live in are major factors when choosing coverage. Consider whether you will need Accident & Illness Coverage or Accident Only Coverage. If you will also require Wellness Coverage to help with the costs of routine care, make certain the plan you choose offers that additional option. Another vital factor to take into account is that pet insurance does not cover pre-existing conditions so please secure coverage promptly while your pet is in a healthy state.

As with human insurance, it makes more sense to acquire a health plan than to pay doctor and hospital bills out of pocket. Just one unanticipated catastrophe could mean choosing between bankruptcy and the life of your pet. When this harsh reality of your loved ones life possibly being at stake is weighed along with these other scenarios, the unequivocal answer to the dilemma, Is pet insurance worth it? is an astounding, Yes!

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How To Get Pet Insurance

If youve decided buying a pet insurance policy is right for you, getting covered is easy. Compare our picks for the best pet insurance companies to see which policy is most likely to cover your needs. Applying can be done in a few minutes, but you will need some basic information such as your pets name, age, and breed.

As you shop for pet insurance quotes, you may find some pet insurers require a veterinary exam before you get a policy while others dont. Most pet insurers will also want to see your pets medical history and any records you have available before you are approved for coverage.

Since policies and premiums can vary from one insurer to the next, its also important to compare quotes from multiple insurers to make certain youre getting the best possible rates. Youll also want to read the fine print in your plan so you know what healthcare is covered and what isnt. Waiting periods can also vary from insurer to insurer, so familiarize yourself with how long youll have to wait for coverage to kick in.

Here are some issuers offering competitive products worth considering:

Compare pet insurance companies

  • Monthly premiums starting at $10
  • Customize your policy by choosing your deductible, reimbursement, and benefit limit
  • Optional packages available for further coverage
  • $50 off your deductible each year without a claim payment
  • A 24/7 pet health line
  • Distinguishes between curable and incurable pre-existing conditions

What Are The Benefits Of Pet Insurance

1. You can place your pets care over cost

With vet bills on the rise, having a sick or injured pet can quickly turn into a heartbreaking situation. For many pet parents, pricey medical treatments mean choosing between the care their pet needs and the care they can afford. But theres an alternative! Pet insurance helps to eliminate the financial burden of veterinary care, allowing you to rest easy knowing you have a plan in the event of a pricey vet bill.

2. Theres coverage for different treatment options

Many human trends, like holistic and alternative treatment, are spilling over into the pet health industry. In fact, 1 out of every 4 pet owners choose alternative treatment over conventional for their pets, such as:

  • Acupuncture

Unfortunately, many pet insurance carriers dont cover alternative treatments, but Companion Protect does!

3. Covered annual exams to catch signs and symptoms of common illnesses early on

Financially being able to stay on top of our own routine check-ups, let alone our pets, is challenging enough. Thankfully, majority of pet insurance companies cover routine wellness exams. With wellness exams covered, you and your veterinarian can continue to track the on-going health of your pet and catch signs and symptoms of any illnesses early on without having to count nickels and dimes.

4. Coverage options for all budgets

5. Choose your own vet!

And speaking of human insurance

6. Pet insurance is far less complicated than human insurance.

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Is Pet Insurance Really Worth It

Being a pet owner is about a lot more than hanging out at the dog park or cuddling with your cat on a rainy day. They need constant care and it can get expensive especially if they develop health problems or get in an accident.

Caroline CakebreadUpdatedJuly 23, 2012


Being a pet owner is about a lot more than hanging out at the dog park or cuddling with your cat on a rainy day. They need constant care and it can get expensive especially if they develop health problems or get in an accident. The veterinarian fee is on a per service basis and depending on whats wrong, vet bills can add up to thousands of dollars which is why many companies offer pet insurance. For a monthly premium, your pet is covered in the event of illness or injury. In Canada, the average insurance premium is approximately $39 a month for a dog and $29 for a cat not bad if youre worried about massive vet bills.

But is pet insurance really worth it? According to a PC Financial poll, only 4.6 percent of Canadians insure their pets. Before you sign on the dotted line though, you need to know that not all policies and providers are created equal. For example, some could increase your monthly payments as your pet ages. Others may have exclusions and limitations. .

How A Pet Health Insurance Policy Can Help

Is Pet Insurance Worth It?

When deciding if pet insurance is worth it for your fam financially, it may help to see it as an investment for the future. First, youll want to consider the costs youll have to pay out-of-pocket without an insurance plan.

Lets meet Kim, a hypothetical pet parent. After noticing her five-year Corgi, Fancy, isnt acting his normal self and looks a little bit bloated, she takes him to the vet where hes diagnosed with GDV , a serious stomach ailment. Fancys vet recommends immediate surgery.

The Pet Health Network estimates that a surgery for this particular life-threatening emergency ranges anywhere between $2500 and $5000. Ouch.

But what if Kim cant afford this procedure? With little to no warning that this was going to happen, she hasnt saved up nearly enough. And Kims vet tells her that the only other option beyond surgery is euthanasia. Its a pet parents worst nightmare: Having to chose between their pets life, and their own financial stability.

Cue pet health insurance.

If insured, Kim would only have to shell out a small deductiblethat she picked when buying her policyand her portion of the plans co-insurance. The remaining bill would be completely covered. For the average pet parent with a deductible of $250 and a 90% co-insurance, this surgery would cost a fraction of what it would without a pet health policy.

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Pet Insurance Coverage & Savings

Pet health insurance works similarly to property insurance. You purchase coverage from an insurance provider, and your plan reimburses you for certain expenses related to your pets healthcare. With top insurance companies you get reimbursed for 80%, 90%, and even 100% of the vet bill .

Like most insurance options, you’ll pay a monthly premium to keep your coverage active. Once your deductible is met, you can expect your insurance provider to pay for your pets eligible expenses, based on your reimbursement rate, up to your limit.

Accident And Illness Coverage Vs Accident/illness Cost

The majority of pet insurance policies written are for accident and illness. The average annual premium for dogs is $585 and for cats $350 . This does not include wellness coverage, which is typically an extra-cost add-on. If your pet suffers no accident or illness, you recover nothing during the year. On the other hand, if it gets cancer, most of the up-to-$5,000 cost of treatment will be reimbursed.

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Is Pet Health Insurance For Cats Worth The Cost

People are becoming more curious about the best pet health insurance for cats. This is especially true as more and more cat guardians treat their cats as family. The average vet bill is $90 to $200+ for cats. Accidents, injuries, or unanticipated ailments can cost a lot more. Treatment for kidney failure can run upwards of $15,000 over Kittys life. The expense of keeping your furry companion in great shape is the best argument that pet insurance is worth it for cats.

Pet health insurance providers have become more well-known over the past decade. The different policy options and companies offering cat guardians insurance policies for their furbabies can make getting health insurance for cats as complicated as for ourselves. Some people still wonder if pet health insurance for cats is worth the cost.

There really is no question about the need for pet health insurance. However, no matter how important pet health insurance is, owners should not just jump into signing on the dotted line for a policy. There are considerations about coverage and cost that really require some research to ensure that you will get the best healthcare for Kitty at the best price for your wallet.

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    If an emergency is not completely addressed , an issue may be overlooked or neglected which can lead to additional ongoing treatment costs.

    Large expenses can also lead to debt, where interest charges will increase overall costs even further. You should avoid this if at all possible, and considering pet insurance is often the best first step.

    For example, perhaps Fido suffers a hip dislocation that just won’t stay in place .

    If the pet parent does not have the funds to thoroughly investigate or address the issue, the ideal treatment may be put off to “see how it heals – which can lead to chronic pain for the pet and recurring medication expenses for the pet parent.

    Or, perhaps a pet has a urinary tract infection and the pet owner didnt want to pay to have a culture analyzed. Instead, they just start antibiotics and create a UTI that is now resistant to antibiotic treatment…Now, much more expensive medications will be required, and potentially even hospitalization or worse .

    Sometimes you really need to do that extra test or that extra treatment.

    It’s difficult to know when, which is why pet insurance is worth the cost for many pet owners: the protection grants finanacial peace of mind so that treatment conversations can be about whats the right thing to do, instead of how much it will cost.

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    Is Pet Insurance Important

    Yes, pet insurance is very important. From day one of owning your pet, you should have a policy taken out! People make mistakes. For example, buying a new kitten and thinking Ill get the policy in a few weeks. However, this is when a lot of people end up paying out a fortune. Pets can fall ill, or have an injury at any age.

    Pet insurance gives you peace of mind that your pet is covered. And, you wont have any unexpected vet bills.

    Can A Pet With Pre

    No pet insurance company covers pre-existing conditions, but it can still cover anything new or unrelated to the pre-existing condition. For example, if your pet was diagnosed with allergies before you signed up, pet insurance wouldnât cover allergies â but with many companies, including Embrace, your pet would still be covered for things like cancer, hereditary conditions, emergencies and specialty care, and any other unrelated condition.

    Some pet insurance companies even differentiate between curable and incurable conditions. This means that if your pet had a one-time illness, like an ear infection, and they can go a period of time without having or showing symptoms of another one, ear infections could be eligible for coverage in the future. Each company is different, so be sure to research waiting periods.

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    Myth # : Your Indoor Cat Does Not Need Health Insurance

    This myth is tied up with the idea that indoor cats dont need vet care. You never know when your furbaby is going to get sick or injured. All cats, indoor or not, need routine vet care. And vet care is expensive. If you have a pet health insurance policy, you dont need to choose between your pets health and your money.

    The main reason to have a pet insurance policy is because sometimes Kitty needs health care and you are not financially prepared for it.

    How Pet Insurance Costs Are Determined

    Is Pet Insurance worth it? | Everything you need to know

    In addition to the coverage choices you make, your type of pet will determine the price of pet insurance. For example, cats are generally cheaper to insure than dogs, and birds, ferrets, rabbits and reptiles are cheaper to insure than cats.

    A pets breed plays a major role in determining pet insurance costs. Thats because certain breeds are predisposed to illnesses and hereditary problems, which often means more veterinary visits and higher medical expenses.

    Dog breeds have the largest variations in pet insurance costs, as opposed to cats. The most expensive dog breeds for pet insurance include:

    • Bulldogs
    • Portuguese water dogs
    • Shar peis

    Older pets are more expensive to insure than younger pets. We found that the best prices were after a pets first birthday until around age six. As the pet gets older, your pet insurance premiums could increase when you renew your policy.

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    How Does Pet Health Insurance Work

    Like health insurance for people, pet health insurance covers medical conditions ranging from simple illnesses like vomiting, diarrhea, colds, through accidents, injuries, chronic illnesses like allergies, hereditary diseases like hip dysplasia, and serious illnesses like cancer, organ failure, etc.

    It covers expenses by subsidizing a portion of the cost from you as an owner.

    This is commonly seen either as a funds reimbursement or by co-paying directly with you.

    Most insurance plans work with claims and reimbursements.

    Certain ones can also work with your veterinarian and offer immediate discounts.

    Make sure you read your individual pets insurance policy and know exactly how your specific policy works!

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