Is pet insurance worth it? This is a common question pet owners ask before purchasing pet insurance coverage for their pets. If your pet gets injured or sick, having pet insurance coverage over them will help you get around bills. Most times, these expenses are not expected, causing a big financial issue in your budget.
Once you have pet insurance coverage over your pet, you do not need to bother about how to cover unexpected visits to the vet along with unexpected medical bills. Irrespective of the type of pet you have, whether it is a pet dog or pet cat, it is worth it to get pet insurance coverage.
Pet insurance is designed to cover unforeseen medical expenses of your pet, protecting you from making out-of-pocket payments for medical bills. Insurance covers expenses such as cancer treatment, drug prescriptions, and surgery, making caring for your pet a lot easier without leaving you in debt. Now, is pet insurance worth it? This write-up contains insights into whether or not pet insurance is worth it.
Is Pet Insurance Worth It?
Yes, pet insurance is a good way to get around unexpected vet bills, such as cancer treatment or broken bones, which may cost a lot of money. Without having pet insurance, you would have to pay for these unexpected expenses out of pocket, which can be inconvenient.
You need to consider getting pet insurance to cover future vet bills that may come up. However, you will need to measure the monthly pet insurance cost against unexpected vet costs to evaluate if pet insurance is worth it for you.
Should I Get Pet Insurance?
When deciding if pet insurance is good enough for you or not, you need to consider the following questions:
- What vet bills are you willing to pay for out of pocket?
- If something like an illness or accident comes up, how do you intend to pay for expensive vet costs?
If you have a way around these bills, you may not need to get pet insurance coverage. In cases where you do not know how to go about these expenses or if your pet is battling with a very serious illness, you may need to get pet insurance to make associated expenses easier to pay. However, purchasing pet insurance can give you peace of mind along with options to make better care decisions for your pet.
Average Treatment Costs for Pets
To determine if pet insurance is worth it for you, you need to know what types of vet bills you will be encountering. The table below shows examples of average treatment costs around pet insurance companies.
| Condition | Average Cost of Treatment for Dogs | Average Cost of Treatment for Cats |
| Cancer | $4,100 | $3,800 |
| Diabetes | $2,700 | $1,900 |
| Ingested foreign objects | $3,500 | $ $3,400 |
| Heart murmur | $1,200 | $1,400 |
| Dental disease | $600 | $800 |
| Eye conditions | $300 | $260 |
| Broken bone | $2,700 | $2,300 |
| Arthritis | $700 | $500 |
| Bladder infection/UTI | $400 | $1,100 |
| Feline kidney disease | N/A | $1,300 |
Most times pet conditions are determined to be hereditary and it can increase the cost of health care. For this reason, getting pet insurance may be worth it to help with these bills.
How Much Does Pet Insurance Cost?
The average pet insurance coverage costs about $528 for dogs while it costs $360 for cats. It is quite affordable to get for your pet. The table below shows the age costs of pet insurance annually and monthly.
| $5,000 Annual Coverage Maximum | Unlimited AnnuaL Coverage | |
| Puppy | $44 per month | $57 per month |
| Dog | $44 per month | $56 per month |
| Cat | $30 per month | $47 per month |
Using these costs, you can determine if it is worth it to get pet insurance coverage for your pet. However, depending on factors like location, pet’s breed, pet’s gender, and pet’s age, pet insurance costs will be different in most pet insurance companies.
What Does Pet Insurance Cover?
The difference between pet and human insurance is that pet insurance plans are reimbursement-based. This means that you need to make up-front payments and submit claims directly to the insurance company. Pet insurance covers the following conditions.
- Toxic ingestion
- Chronic conditions like diabetes
- Emergency care
- Diagnostic testing
- Prescription medications
- Broken bones
- Dental illnesses like gingivitis
- Breed-specific conditions like hip dysplasia
- Surgery
- Hospitalization and surgery
An accident-only pet insurance coverage will only cover veterinary expenses related to an accident. It does not cover expenses related to illnesses such as cancer or infections. Some pet insurance companies offer options to policyholders to get wellness or routine care coverage as an add-on to cover more expenses.
