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Is Pet Insurance Worth it?

Lisa Belluck  — January 11, 2019

For many people, their pets are just like family. And just like humans, animals may require medical care. All pets should be vaccinated and examined by a vet to make sure they stay happy and healthy. But what happens if your pet becomes sick or injured?

Many people purchase pet insurance to help defray such costs. Other pet owners ask themselves, is pet insurance worth it? Before making any decision, it’s a good idea to investigate carefully. Ideally, pet insurance can help any animal live longer and keep the owner’s pet care bills to a manageable level at the same time.

Get Reimbursed for Expensive Vet Bills

One of the biggest benefits of pet insurance is the confidence that comes with knowing you won’t go into debt over vet bills. We sometimes forget that veterinarians have a business to run and that means they have to charge for their services, no matter how cute their patients are.

Unfortunately, many pets go without the proper medical care because their owners can’t afford to have them treated by a licensed veterinarian. That may be why millions of Americans have decided to enroll their pets in pet insurance. Their furry family members get the healthcare they need and the vet bills are reimbursed to the pet parents.

How Pet Insurance Works

Those who are wondering is pet insurance worth it should know how the insurance process works. Pet insurance has a lot in common with standard human medical insurance. Just like human medical insurance, there’s typically a basic monthly fee along with deductibles and co-pays.

Pet insurance may also have costs that differ according to other factors. Some insurers charge more as the dog gets older. Many insurers charge more to insure certain breeds. This is because certain breeds are prone to certain medical conditions.

For example, larger breeds like Golden Retrievers often have hip problems that can get even worse as the dog grows. Pet insurance also varied in other ways. An insurer may charge more if you live in an area with high vet costs.

What Pet Insurance Covers

A standard pet insurer offers several basic types of insurance. A standard pet insurance policy will cover accidents, illnesses, and emergency animal care. An owner can opt to cover both accidents and illnesses or just accidents.

The typical price for pet insurance runs about five hundred dollars annually for a single pet. These policies can be worth if you want to make sure you always have the funds to pay any vet bills. At the same time, they can become more expensive as the pet ages.

Save Money on Pet Insurance

Your best bet for making pet insurance worth the cost is to do your research on the top pet insurance companies. Check to make sure you can customize your deductible and reimbursement rate to help lower your monthly premiums. And don’t forget to check out trusted pet insurance reviews before signing on the dotted line!