Is it Worth Getting Pet Insurance?


By Yolanda Spivey

Pet insurance is becoming more popular with many people budgeting for this expense.  It is estimated that pet owners spent a whopping $14.3 billion in veterinary care in 2013—and the numbers are expected to rise to $15.2 billion this year alone.

Everyone can not afford pet insurance, but if you are one of the lucky few, it can save you a great amount of money in the long run.  It can reduce your $1,000 vet bill to a few hundred dollars.  If you cannot afford pet insurance, it is wise that you open up a separate savings account and contribute to it on a regular basis just in case there are unforeseen medical issues with your beloved pet.

Here are a few pointers to keep in mind when purchasing pet insurance:

Dogs are the main policy holders:  Although policies are geared towards cat and dog owners, most insurance companies tend to put the emphasis on dogs.  Eight-five percent of insurance policies cover dogs while on fifteen percent cover cats.  The reason why?  Well dogs live more active lifestyles and are prone to more injuries.  Pet owners are still encouraged to take out pet insurance on their cats as insurance plans for them are less expensive.  The cost for dog insurance will run an owner between $25 to $35 a month, and cats $15 to $22 per month.

Premium payments are lower for younger pets:  You can get insurance for your pet regardless of their age, but younger animals insurance rates are very inexpensive.  The older your pet, the more harder it will be to find an insurance carrier who would cover them.  Some policies deny pets once they reach the age of 10, while other policy premiums increase as your pet age, so get insurance on your pet early in their life.

No coverage for pre-existing conditions:  It is so imperative to purchase insurance before your pet is ever taken to the vet and records are created.  Many carriers can deny your pet coverage if there is a pre-existing condition in their medical history.

Read the Fine Print:  According to, pet insurance policies originated in Sweden where more than 50% of pets are insured.  In the United States, only 1% of pets have insurance. It’s suspected that the first pet insurance policy written was to protect Lassie, the famous Hollywood dog actor.

With over 11 companies that now offer pet insurance, each one has different terms, regulations and plans.  Some policies only cover for accidents, illness and wellness or preventive care.  Some insurance companies only cover a percentage of the bill while others have a max amount per diagnosis that they will cover within a year. Make sure when choosing a plan you read the fine print to ensure what is actually included and not included on the policy.

Source: Fox Business


One Response to Is it Worth Getting Pet Insurance?

  1. You made some good points there. I looked on thhe net to find out more about the issue and found most induviduals will go along with your views
    on this site.

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