Why pet insurance is worth it

Veterinary bills can be expensive — particularly when emergency treatment is needed. Fortunately, if you have pet insurance, these bills may be covered either in part or in full. 

Like human health insurance, pet insurance policies cover the costs of certain treatments, medications, and services for dogs and cats. In some cases, they even extend to preventative care and wellness checks.

The price of pet insurance is much less than human health insurance, but the exact cost depends on the type of animal, its breed, age, and health condition. The typical accident and illness pet insurance plan for a dog runs just under $600 for a full year, according to the Insurance Information Institute. For cats, it's a mere $343. 

Not sure if these costs are worth it for your furry friend? There are multiple reasons pet insurance is typically worth the money, which we will explore below.

If you're in the market for pet insurance then start by getting a free price quote now so you know exactly what to expect.

Why pet insurance is worth it

Here are four reasons you may want to purchase a pet insurance policy.

It can reduce your pet's medical costs

Caring for a pet can be costly, especially if they get injured or develop a serious health condition. Dental surgery, for example, runs over $1,200, while removing a foreign object from your pet's stomach can run $2,250 or more.

With pet insurance, the cost of these services is significantly lower. See below for the cost of various veterinary services with and without comprehensive pet insurance (90% reimbursement rate):

The exact savings will depend on the care your animal needs, the types of pet insurance you've purchased, and your pet insurance company, but as you can see above, they're often quite large — particularly when a major surgery or treatment is involved.

It can be tailored to your exact pet and needs

Pet insurance is very flexible. You can get a dog insurance policy with just accident and illness coverage or a cat insurance policy that includes vaccinations, annual check-ups, and other types of wellness care.

Most pet insurance policies have a wide variety of packages you can choose from, as well as add-on services, like preventative care, dental services, and more. You can even choose different deductible levels and reimbursement rates to get the perfect fit for your budget and animal. 

You can start checking prices with pet insurer Lemonade here now or use the table below to compare some top providers.

It can improve quality of life

There are many pet insurance pros, but perhaps the biggest is that it keeps you from having to make impossible decisions about your pet's care and life. If your pet were to need very expensive life-saving treatment, pet insurance ensures your furry friend can get it no matter what your bank account may look like.

Let's look at an example. If your dog required a $10,000 surgery to remove a cancerous tumor, but you only had $1,000 in savings, you'd face some tough choices. Would you go into debt for the treatment? Let your pet remain in pain? Euthanize the animal to save money? With pet insurance, these aren't decisions you'd have to make.

It can give you peace of mind

Finally, as with any insurance policy, pet insurance is a kind of safety net. You may not always need the services and coverage it offers, but on the small chance you do, it's there to help lighten the financial load.

This peace of mind can be particularly helpful if you're on a tight budget or have very little in savings, as you'll always know there's a backup plan should something unexpected arise.

Get a free pet insurance quote in 30 seconds here now to see if it makes sense for you.

Other considerations

There are many advantages to buying pet insurance, but it has its drawbacks too. For one, most pet insurance companies will not cover older animals or pre-existing conditions, so if your pet has asthma, allergies, diabetes, or any other chronic issue before getting coverage, a pet insurance policy won't extend to those problems. 

Additionally, there's a chance you may not use your policy much. If you have an accident-only pet insurance policy, for example, and your animal goes the full year without any injury, the investment may not be worth it in the end. Though having it could still provide peace of mind. 

Ready to invest in pet insurance?

Pet insurance prices vary widely by provider, so if you're considering purchasing a policy, make sure to shop around. Compare different pet insurance policy types, coverage, deductibles, and reimbursement rates, and make sure you're getting the best deal for your money.

If you're not sure what pet insurance provider is right for your animal, talk to an independent insurance agent. They can point you in the right direction.