Should You Buy Pet Insurance?December 13, 2021
We know firsthand how heartbreaking it can be for pet parents who are unable to afford the emergency or specialty treatment their pet needs. That is why we believe passionately in pet insurance.
Questions we get all the time include: Should I get pet insurance? When is the right time in my pet’s life? Does my healthy pet really need it? How much does pet insurance cost? Is it worth it? The short answers to these questions are: Yes. ASAP. Yes. It varies by plan and the choices you make. And, yes. Read below to understand how to select the right pet insurance plan for your pet and his or her lifestyle.
Where to Start
Why is Veterinary Care Expensive: read about the costs of veterinary emergency care vs. the cost of pet insurance.
Why You Should Buy Pet Insurance Even for Your Young, Healthy Pet: read about why you should consider pet insurance sooner rather than later.
Adult and Senior pets- it’s never too late to get your older pet an insurance plan. Some preexisting conditions your pet has experienced may not be covered, but there are accidents and illnesses that you may experience as your pet ages that you will want covered. Myth: Pet insurance for older pets costs more than human health insurance. This statement is false. Although insurance plans for adult and senior pets are slightly higher than young pets, the difference in monthly fees can range from $10-$30, making your monthly premium about $35-$80 (based on the company you choose).
Decisions in Pet Insurance: read about researching pet insurance companies, picking the right policy plan for you and your pet, coverage and deductible options, and more.
If you’re still unsure, check out these real-life pet insurance stories from real pet owners from some of our hospitals: Pet Insurance Tails.
Pet Insurance Companies
Shop around! Most pet insurance companies will give you a quick, free quote based on your pet’s breed, age, where you live, etc. There are so many options for coverage (wellness vs. accident/illness), deductibles (as low as $100), and monthly premiums (ranging from $25-50 a month.)
Here are some of the most popular pet insurance companies we see at our hospitals:
- Embrace Pet Insurance
- Nationwide Pet Insurance (formerly VPI)- offers coverage for birds, small mammals, and reptiles too.
- Healthy Paws Pet Insurance
- PetFirst Pet Insurance
- ASPCA Pet Health Insurance
- Fetch (Formerly Petplan)
- Pet Assure
- FIGO Pet Insurance
Click this link for a printable PDF of our pet health insurance flyer to help you select the right company and plan for your pet.
Pet Insurance Fun Facts
- The first-ever pet insurance policy in the U.S. was issued to Lassie in 1982! VPI (now Nationwide) issued her an accidental injury and comprehensive major medical coverage. After Lassie, more companies began to spring up providing pet insurance options for pet owners.
- The first pet insurance policy in the world was written in 1890 by a company in Sweden. Today only 1-2% of pets are insured in the United States, while 50% of pets are covered in Sweden.
- The most popular pet insurance claim for cats & dogs is GI (gastrointestinal) upset, followed by ear infections and masses.
- Every year, Nationwide gives out the Hambone Award to the most unusual pet insurance claim of the year. In 2019, Minnow the indoor cat won for disappearing for 21 days and returning only with a broken rib.
- Some pet insurance companies have a cap on how many foreign body removals they will cover within a policy period or lifetime. Labrador owners beware!
- Exotic pet insurance is different than livestock insurance. Pet insurance companies do not cover farm animals (with the exception of goats & pigs) or backyard flocks including chickens, ducks, and pigeons.