Cost of Pet Insurance – Is it Worth It?

cost of pet insurance

Many of us view our pets as members of the family but ignore the significant differences in the Cost of Pet Insurance and maintenance requirements. Most pet owners lack a realistic understanding of the exact cost of veterinary care, especially in an emergency, and are unprepared for the catastrophic costs due to an emergency.

Your human child will receive the immediate care they require if they are hurt in an accident, regardless of how or whether you will be able to pay for it. However, if your pet experiences the same destiny, you will typically need to pay a deposit upfront before they can provide therapy; this deposit is frequently the lower end of the overall expected cost of treatment. It is always best to set expectations when getting a new pet, especially a kitten or a puppy.

So is it worth taking one? Let us go ahead and take a look at some pain points before you decide.

What does Pet Insurance Means?

Pet insurance is the animal equivalent of health insurance for people. Knowing that your dog or cat has top-notch health insurance coverage might be comforting. Their insurance will protect them from high, unplanned medical expenses. It is, therefore, appropriate to know that there are two types of pet insurance.

With a pet insurance policy, there is a guarantee of your financial security and coverage for your pet for both: little and large mishaps and illnesses, including cancer, unforeseen injuries, chronic disorders, and, in some circumstances, even routine checkups. Therefore, pet insurance would pay significantly more than the $3,000 you saved if the cost of emergency care was $10,000.

Insurance guarantees you will receive a large amount of the money you will spend at the veterinarian. Vet insurance reimbursements can fluctuate depending on several variables, including coverage levels, pre-existing diseases, etc., just like human health insurance.


  1. Accident-Only Pet Insurance

Accident-only insurance can be the best option if you want to cut your pet insurance rates and when you are sure your pet is healthy. What does it cover, though?

Always double-check the fine print of any policy you have in mind. Many accident insurance plans will cover your pet, especially during an accident that was not your fault, like a car accident or even an allergic response to a parasite. Accident-only insurance will typically also cover wounds sustained by your pet in an animal fight, from a snake bite or other cuts and scratches brought on by others.

The majority of insurance will pay for a wide variety of injury treatments, including x-rays, medications, veterinary consultations, and necessary lab testing.

  1. Accident and Illness Pet Insurance

Pet insurance accident and illness coverage is the standard type of policy. They are the most commonly-purchased pet insurance plan. To be more specific, more than 98% of all policies that are sold is this type.

An accident and illness pet insurance can cover the treatment for unforeseen health problems including ripped ligaments, broken bones, and even chronic illnesses like cancer.

When your pet is young, you can avoid pre-existing condition exclusions and lower your monthly premium because many pet insurance providers limit their illness coverage as pets age.

Here is a Coverage Chart that your pet may get from this type of insurance:

  • Illnesses
  • Accidents
  • Congenital Disorders
  • Blood Tests, X-Rays, and others
  • Diagnostic Treatments
  • Surgery
  • Emergency Services
  • Hospital stay
  • Drugs on Prescriptions
  • Chronic Illnesses
  • Cancer
  • Specialized Care
  • Alternative Treatment

Unfortunately, pre-existing conditions and preventative care are not included.

  1. Preventive or Wellness Coverage

Wellness coverage is never required since, according to your preferences, you can pay for wellness costs independently or opt it in as an add-on to your premium pet insurance to keep clear of paying out of pocket in one go for routine veterinary appointments.

A pet wellness program might pay for the following:

  • Annual tests
  • Feces analysis
  • Customary immunizations (e.g., rabies, hepatitis, distemper, parvovirus, Bordetella, leptospirosis)
  • Tooth brushings
  • Spay/neuter techniques
  • Regular blood tests
  • Testing and treatment for heartworms
  • Treatment for fleas and ticks
  • Urinalyses

Remember that a single annual regular vet visit can cost as much as $300, depending on your veterinarian, where you live, and the kinds of surgeries, shots, and tests your pet needs. According to costing site How Much Does It Cost, a growing number of people are using wellness plans to control these expenses. For this reason, more businesses are starting to provide them, some of which are an add-on to pet health insurance plans.

Exclusions of Pet Insurance

Some things are unlikely to be covered by any provider, regardless of the policy. Due diligence is crucial. Therefore, one should read the Policy Booklets (which also contain the Product’s Disclosure Statement) to be aware of all exclusions in your policy.

This list of exclusions may vary depending on your policy insurance provider:

  • Dental care

This includes all dental treatments and conditions like gingivitis, dental fracture treatment, scaling and cleaning, and tooth extraction for broken or infected teeth.

  • Several procedures and services

Travel and lodging expenses, ambulance fees, non-urgent hospitalization, genetic testing, organ transplant surgery, and more.

  • Elective Treatments and Procedures

Elective refers to any procedure deemed unnecessary for your pet’s survival. Routine medical exams, cosmetic and experimental treatments, and nail trimming are also procedures that are not under the insurance companies.

  • Neglecting to protect your pet:

Pet insurance won’t cover you for any damage your pet sustains as a result of your carelessness. It covers any malevolent behavior, intentional harm, or flagrant negligence committed by you or anybody living in your home.

What Animals are covered by pet Insurance?

Before purchasing pet insurance, you should be aware of various age restrictions. For example, it is typically the eight-week-old pups that you can enroll your pet in pet insurance. When you adopt an older dog or cat, you can immediately begin an insurance policy.

It can be tricky to get pet insurance for an elderly animal, considering that elderly animals may be more prone to mishaps and illnesses. However, it’s vital to remember that many policies can only provide coverage if you obtain the insurance before your pet turns nine years old. You can still insure your older dog or cat.

Wrapping Up

May the information provided above have given you insight and new information before you weigh in on your decision on whether or not you get insurance for your pet.