Yes, You Can — and Need — to Insure Your Pets

Photo of smiling dog with pet insurance articleA pet is a member of your family. Whether your pet is a yellow lab, a tabby cat, or a chinchilla, you undoubtedly want to give it the best care.

If you’ve ever had to make an emergency vet visit, you know the costs can quickly strain any budget. Because of the high costs of pet health care, unfortunately many families must make the difficult choice of whether or not to take additional measures to save a pet based on cost.

Even regular checkups are necessary to maintain your pet’s health. You can pay out of pocket for every visit, or you can invest in pet health insurance.

The Cost of Pet Care

  • Kidney transplants and radiation therapy costs can range from $1,000 to $5,000.
  • In 2012, pet owners spent $12.2 billion on veterinary care.
  • Socks are the most common items removed from a dog’s stomach. If your dog eats a sock, it can cost over $1,500 dollars to remove.
  • Hip replacements can cost up to $10,000.
  • Pet insurance can cost anywhere from $10 to $100 per month.

Should I Buy Pet Care Insurance?

Buying pet insurance is a personal decision. It has become more popular and available due to advancements in veterinary medicine. Today, procedures now exist that enable veterinarians to perform better diagnostic tests and procedures that can save more pets. Even if your pet is young and healthy, you may find that pet health insurance makes sense for your needs and budget.

On the other hand, if buying health insurance for pets you own will have a significant impact on your wallet, you may just want to set money aside for emergencies.

What to Consider When Searching for Pet Health Insurance

Photo of cat with pet insurance storySome pet insurance companies will only offer health insurance for dogs. Others may offer pet insurance for cats but won’t cover your lizard. The more exotic your pet is, the harder it will be to find pet health insurance.

Take into consideration the breed of your pet. Some animals are more prone to health issues. If you aren’t sure what kind of health issues your pet could have, speak to your vet. If you know that your dog’s breeding causes him to be prone to hip problems, you might want to consider buying pet health care insurance.

Consider an average day in your animal’s life. If you live near a busy freeway and your dog consistently jumps the fence, you may want to consider not only a pet health insurance plan, but dog life insurance as well. If you travel with your animal, there’s an increased risk of accidents as well as exposure to other animals who could have diseases. Pet travel insurance will cover your pet’s health no matter where you are.

Pet health insurance may be worth the investment if your animal is prone to illness or the risk of having an accident is higher. If your dog is healthy overall, and is not a breed that tends to have health issues, managing your dog’s health may be a better and more proactive step than buying health insurance for your dog. No matter what level of protection you need, one of our independent agents can help you make pet insurance comparisons and decide whether a pet healthcare plan makes sense.

How Much Does Pet Health Insurance Cost?

Premium cost for pet health insurance really depends on the type of policy you choose, according to our partners at Trusted Choice.

If you choose a very basic policy that includes accident coverage, you could be paying $8 to $10 per month. Pet insurance rates for better coverage are higher. Plans that cover preventive care can cost anywhere from $150 to $200 per year. You may be able to get pet insurance discounts by raising your deductible limits but the insurance company you work with may have set limits.

Evaluate what’s important for your pet and how much you can spend. Always check pet insurance ratings to make sure you’re buying a reputable product. If it sounds too good to be true, it probably is.

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