Pet insurance can be worth the cost if you have the right coverage, but you need to understand that it doesn't work like human health insurance. For many Americans who see their pets as family, the peace of mind that pet insurance offers is a valuable tool in saying ""yes"" to the veterinary care their pet needs.
Pros
Pet insurance can reimburse anywhere from 70% to 100% of unexpected veterinary costs depending on your policy.
Most pet insurance plans can be used at any licensed veterinary practice.
Knowing that you'll be reimbursed for covered costs grants the peace of mind to say ""yes"" to the care your pet needs.
Cons
Pet insurance usually works on a reimbursement model, which means you still need to pay the vet bill upfront.
Pet insurance cover doesn't cover preventive care (like vaccines or spaying/neutering), nor does it cover treatment costs related to pre-existing conditions.
Many people waste money on a plan that doesn't cover their pet's breed-specific health risks.
What Pet Insurance Really Costs
On average, dog insurance costs $56.30 per month and cat insurance costs $31.94 per month.1 Your actual costs may be higher or lower depending on a few variables:
Where you live and vet costs in your area
The age and breed of your pet
How you customize your policy
Beyond average pet insurance costs, the only way to truly understand what price to expect is to compare real quotes across top companies side-by-side.
What Pet Insurance Covers
Pet insurance pays you back for unexpected vet bills for accidents, injuries, and illnesses. With the best insurance companies, you get reimbursed for 80%, 90%, or even 100% of the covered costs (after your deductible is met).
Most Plans Cover:
Accidental injuries (foreign object ingestion, broken bones, bite wounds, and more)
Unexpected illnesses (skin allergies, gastrointestinal issues, glaucoma, and more)
Chronic disease (diabetes, arthritis, heart conditions, and more)
Dental illnesses (periodontal disease, gingivitis, tooth resorption, and more)
Hereditary conditions (i.e. hip dysplasia, hyperthyroidism, von Willebrand disease, and more)
Surgery (bloat, cruciate ligament conditions, cataracts, and more)
Cancer diagnosis and treatment
Prescription medications
Diagnostic testing (i.e. fecal exams, allergy tests, x-rays, bloodwork, MRIs, and more)
Emergency exam fees
Some Plans Cover:
Alternative treatments like physical therapy, acupuncture, and chiropractic care
Behavioral modification therapy
Vacation cancelation fees
Lost pet advertising and reward
Breeding and pregnancy expenses
End-of-life care, euthanasia , and cremation or burial
No Plans Cover:
Pre-existing conditions
Pet supplies (food, toys, treats)
Cosmetic procedures
Elective surgeries
Routine care/Wellness exams
Preventive care
Spay/Neuter
Vaccinations
Boarding or daycare
Personal liability claims
It's a good idea to always read the fine print of your pet insurance policy so you know exactly how it works, what's covered, and what's not.
Unexpected Veterinary Bills
Unforeseen (and expensive) emergency veterinary care is almost impossible to predict — and all too common. In fact, one in three pets will need emergency treatment each year. Accidents like dog bites, fractures, and object ingestion can cost thousands of dollars to treat. A ligament repair — a common issue for active dogs — can cost $3,000 to $7,000, not including X-rays, anesthesia, and follow-up care.Medical expenses can quickly compound after the initial exam as the treatment plan calls for blood tests, x-ray imaging, pain medications, IV fluids, and whatever else the patient might need.
Dr. William Hodges, DVM, says, ""One example, feline urinary obstructions — a fairly common health issue in indoor cats — often require lab testing, antibiotics, and even surgery that can add up to $3,000 .""When this happens, not only do you need to cover the cost of your visit to the emergency vet, but you also have to factor in long-term costs.
What Veterinarians Are Saying in 2024
""Depending on the problem, a pet health emergency can cost anywhere from a few hundred dollars to over $7,000. For instance, the estimate to treat parvo disease in puppies — a life-threatening disease prevalent in young, unvaccinated dogs — is $1,000 at some hospitals versus $5,000 to $8,000 at others, and often results in fatality without immediate treatment,"" says Dr. William Hodges.
Dr. Ricky Walther advises, ""If you're uncertain whether pet insurance is worth the cost, you should also be mindful of breed-specific health risks that can significantly increase the cost of pet ownership throughout your pet's lifespan.""
How To Find a Plan That Fits Your Coverage Needs and Budget
Here's how to compare pet insurance plans:
Identify your pet's health risks
Determine your budget
Compare quotes and coverage from top companies
Narrow in on options that fit your coverage needs
Read the fine print and make sure there aren't unique exclusions
Customize the policy details to fit your budget if needed
""It's important to read coverage details carefully, as policies may note different waiting periods for specific conditions,"" says Kari Steere, Licensed Insurance Producer. ""For example, one policy might note a 10-day waiting period until coverage kicks in but have a unique clause that says cruciate ligament injuries will have a 6-month waiting period. If you have a dog whose breed is prone to knee injuries, you need to know this information upfront.""
Frequently Asked Questions
Is pet insurance worth it for indoor cats?
Pet insurance can be worth it for indoor cats as 50% of cats over the age of four develop dental disease. Additionally, there are many toxic household plants and items that require a trip to the vet if your cat eats them.
Is pet insurance worth it for older dogs?
Pet insurance can be worth it for older dogs as many dogs over the age of 10 develop cancer. But, it really depends on how old your dog is compared to his/her expected lifespan, and how many pre-existing conditions are already present.
What's the best pet insurance?
The best pet insurance varies from person to person and pet to pet. There is no one-size-fits-all pet insurance, so you’ll want to compare top companies and find the option that covers your pet’s breed-specific health risks and has the best deal.
Do all vets take pet insurance?
Yes, because pet insurance reimburses you instead of paying the doctor. This means your pet insurance will work at any licensed veterinary clinic or animal hospital in the U.S.
When is pet insurance not worth it?
Pet insurance may not be worth the cost if your pet already has several pre-existing conditions.
