How pet insurance works & why to consider getting it

If you have pets, you know that they’re part of your family, and you want to care for them as such.

Unfortunately, veterinary care isn't cheap. In fact, dog parents in the United States can expect to spend $700-1,500 per year in vet bills—and that's just for routine care. Factor in an emergency surgery or treatment for an illness, and you could easily be spending thousands of dollars per year to keep your cat or dog healthy.

The good news? Pet insurance can help with the high costs associated with veterinary care, costing an average of $29/month for cats and $49/month for dogs.¹ With a solid understanding of what pet insurance is and how it works, you can confidently decide whether this type of coverage is right for you and your pet.

Why would I need pet insurance?

You may want to explore pet insurance as a coverage option if you're looking for a way to cut down on the costs of caring for your cat or dog. If you have multiple pets, carrying this insurance could save you a considerable amount of money. All too often, pet parents are faced with difficult decisions when a pet is seriously injured or ill if they aren't able to afford treatment costs.

With pet insurance, many veterinary procedures and treatments are covered, so pet families can rest easier knowing they’ll be able to get their cat or dog the care they need.

What does pet insurance cover?

While coverage can vary from one carrier and policy to the next, pet insurance covers treatment for a wide range of illnesses and injuries. Let’s say your dog is bitten by another dog at the local park—your pet insurance coverage can help you pay for the cost of surgery or other treatments. Likewise, if your cat is diagnosed with a non-hereditary form of cancer, your policy may help to cover the costs of radiation and chemotherapy.

It is important to note, however, that pet insurance often does not cover preventive care, such as routine checkups and immunizations. Most policies will also not cover anything that is deemed to be a pre-existing condition or a condition that is hereditary (for example, many larger dogs are naturally prone to hip dysplasia). While pet insurance doesn't cover every cost related to keeping your pet healthy, it can be a huge financial relief—especially when it comes to unexpected vet bills.

Pet insurance cost & other considerations

The cost of pet insurance can vary based on your pet’s breed, age, and species. Dogs, for instance, generally cost more to insure than cats. Larger pets (which tend to have shorter lifespans) may be more expensive to insure than smaller pets. If your dog or cat has any pre-existing conditions that you know about, you may be asked to disclose these when you apply for pet insurance coverage; these conditions will typically not be covered by your policy.

Your location can also affect the cost of coverage, as veterinary costs vary based on where you live. There are some other considerations that you'll need to keep in mind as you shop for pet insurance. For example, many carriers will require a routine exam with a waiting period of a few days before coverage kicks in.

Is pet insurance worth it?

With the growing costs of veterinary treatments, carrying pet insurance can be a great way to enjoy some extra financial protection and peace of mind. If you can afford the policy premium, being reimbursed for some (or all) of your covered veterinary expenses could save you hundreds or even thousands of dollars per year.