Do I Need Pet Insurance?

Is Pet Insurance Worth the Costs?

This is a question that we see come up a lot. With pets living longer than ever and veterinary care continuing to advance, pet health care bills are getting more expensive. In fact, in 2001 pet owners spent $28.5 billion on their pets in the United States. In 2016 that number is expected to rise to $62.75 billion. But, even with insurance, pet health care is still expensive. How can we afford the best care for our furry friends?

Not everyone will agree on the importance of pet insurance. In the end, it is a personal financial decision that will be different for every person. For some people, it may be the best option to put money aside in the case of a pet emergency. Others will argue that over the lifespan of your pet you will spend the same. It all depends on if you want to spend a little at a time or a lot all at once.

Before adopting you should fully understand the financial commitment of having a pet. It is important to make the decision to invest in pet insurance when you first adopt for you will get the best rates when your pet is young. Many will discourage getting pet insurance just to cover routine wellness care because that is your responsibility as a pet owner. But when the unexpected occurs, it could hurt financially.

If you love your pet, you consider them a part of the family and you will do anything to provide them with the appropriate care.

Another thing you should consider is the breed of your animal. Many breeds are prone to specific chronic diseases. For example, it is common for Golden Retrievers to get diagnosed with cancer at an old age. If you are worried that your pet will begin to have complications with age, pet insurance should be something you should consider. Note that pre-existing illnesses may not be covered. Meaning, if you get pet insurance after an illness has been diagnosed, your insurance may not cover it.

Do Your Research

If you decide that pet insurance is best for your financial situation, it is crucial that you do intensive research on the different plans available. Check for loopholes and read the fine print. Nothing would be worse than paying yearly for insurance and it not cover something big. Things you should look into include:

  • Co-Pays
  • Deductibles
  • Prescription Drug Coverage
  • Vets that Accept Insurance
  • Percentage of Bills Insurance Pays

You may decide to choose the highest deductible you can afford to lower the monthly premium. In this care, you would only use the insurance in the cast of a medical emergency rather than basic exams, etc. You never know what your pet might do or what’s doing to happen. This might be best to protect you financially when your pet swallows a toy or breaks a bone.


By madison|Thu, Sep 15, 2016