Taneia Surles, MPH

When your pet gets a tummy ache, a nasty tick bite or starts limping around the house, going to the vet is usually the next step to get them help. But veterinary care can quickly become expensive, especially if your pet needs imaging, surgical procedures or long-term medications.

Many pet owners wrestle with whether getting pet insurance is worth the added cost. While pet insurance can offer financial protection, policies vary widely and don’t always cover what owners expect.

But for some pet owners, the value becomes most clear during an emergency or at the end of a pet’s life.

“When you’re grieving, the last thing you want to be doing is math in a vet’s office,” said Jordan Colton, whose cat Brother has since passed away. “Insurance buys you the room to decide based on what’s right for your pet, not what’s left in your account that day.”

Pet insurance might not be the right fit for every household — but understanding how it works before your pet actually needs it can help.

How much does pet insurance actually cost?

“There are several factors that determine the cost of pet insurance premiums, including your location, available providers, the typical veterinary fees in your area, and your pet’s breed, age and gender,” explained Kate Boatright, VMD, a small animal veterinarian.

Dr. Boatright shared a breakdown of the average monthly pet insurance costs for dogs and cats:

Dogs

• Accident-only: $18 to $42
• Accident and illness: $48 to $111
• Wellness plan: $20 to $45

Cats

• Accident-only: $8 to $18
• Accident and illness: $29 to $66
• Wellness plan: $14 to $33

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“Pet insurance is usually paid through monthly or annual premiums,” she explained. “Some pet insurance companies also offer plans with deductibles, which is an annual amount you’ll have to pay out of pocket before your coverage kicks in. The higher the deductible, the lower your premiums are likely to be, and vice versa.”

Most plans reimburse a percentage of eligible expenses after you’ve met your deductible.

What are the biggest benefits of pet insurance?

According to Philip Putter, DVM, a small animal veterinarian and founder and owner of Spot On Veterinary Hospital & Hotel, the biggest benefit of pet insurance is the freedom to make choices based on your pet’s medical needs, rather than what you can afford at that moment. 

“Veterinary medicine has advanced tremendously, and advanced diagnostics, imaging, chronic disease management and complex surgery can become expensive,” Dr. Putter said. “Insurance helps to make those decisions easier.”

Another potential advantage for pet owners is financial protection from unexpected veterinary costs. “Pet insurance can help ensure that a catastrophic pet injury or illness won’t break your bank account, and the right plan can also help make non-emergency care more affordable,” Dr. Boatright said.

Erika Byrnison, the owner of Maude, a 6-year-old lab-dachshund mix, said her pet insurance came in handy when she found out her pup was born with a condition called enamel hypoplasia, where tooth enamel doesn’t develop properly. 

“I had to pay out of pocket up front, but thankfully was reimbursed,” she said. “She later needed an extraction, sealants and more restorations. Since then, the work has held up, and she just needs regular cleanings, but the initial work was reimbursed for $7,800.”

What pet insurance usually covers — and what it often excludes

Pet insurance plans are not one-size-fits-all. Coverage will vary between policies. 

Here’s what is typically covered:

• Illnesses
• Accidents and injuries
• Diagnostic testing
• Emergency care
• Surgery
• Prescription medications
• Chronic disease management
• Some hereditary conditions (depending on the policy)
• Wellness coverage (if purchased as an add-on)

Dr. Putter said pet insurance typically won’t cover pre-existing conditions, which is why he advises his clients to enroll early. 

“Once a diagnosis or injury is documented in the medical records, it usually is no longer covered,” he said. 

Other common exclusions include:

• Flea, tick, and heartworm prevention
• Routine care without a wellness add-on
• Dental cleanings (policy-dependent)
• Pregnancy and breeding-related care
• Cosmetic or elective procedures
• Very young pets (under 8 weeks with some plans)

Before you choose a pet insurance plan, read the fine print and consult your veterinarian to see what coverage actually makes sense for your pet. Dr. Putter also recommends learning about your pet’s breed-related health risks and reviewing whether those conditions would be covered under a policy.

What are the downsides of pet insurance?

According to Dr. Putter, some owners may feel that they’re paying monthly premiums for something they may rarely use. “When your pet is young and healthy, it can feel like you are paying too much for premiums that you are not ever using,” he said.

Dr. Boatright said that premiums may be higher for certain breeds because some animals may be predisposed to more frequent or severe health conditions.

She also explained pet insurance operates on a reimbursement basis, so you would pay the vet bill upfront and receive the reimbursement later, which could be a downside for some pet owners.

If you already have pet insurance but want to switch plans, changing coverage can create gaps. “I don’t think people realize that once you switch, anything you’ve disclosed or put a claim in for previously is considered a preexisting condition and won’t be covered,” Byrnison said.

Colleen McCarthy said she was denied coverage for one of her cats because the insurer determined her cat’s asthma was pre-existing. “After that experience, I didn’t think the insurance was worth it, and I winged it,” she said.

Dr. Putter added that his hospital’s recommendations have changed over time because some insurers adjusted their coverage and reimbursement policies.

How to decide whether pet insurance is right for you

Vet experts recommend evaluating pet insurance well before health problems arise, especially since pre-existing conditions are often excluded from most plans.

Here’s a helpful checklist for choosing pet insurance:

• Ask your vet for recommendations 
• Consider your budget
• Compare reimbursement percentages
• Check annual limits
• Review exclusions
• Ask about wellness add-ons 

“Think of pet insurance as just one more facet of responsible pet ownership,” Dr. Putter said. 

Ultimately, deciding whether pet insurance makes sense will depend on your pet’s health risks, your finances and what you’re comfortable managing out of pocket.

Original article can be found here.