Deciding whether or not to sign up for pet insurance is an important decision rooted in both
What we recommend though, is that if you can afford a monthly premium between $10 and $50 but can’t afford thousands of dollars in vet bills should a serious injury or illness pop up, pet insurance is a good choice for you.
If you do opt to go the route of pet health insurance, welcome! You’re in decent company: There were approximately 4.41 million insured pets by the end of
How do pet insurance policies work?
Pet health insurance plans operate similarly to those for humans in that they usually charge an annual deductible, require you to pay a monthly premium — which can range from as little as $10 per month to as much as $90 per month — and involve filing a claim for benefits after coughing up some out-of-pocket costs. And just like with human plans, you have tons of questions to ask a pet insurance company when you start shopping around for a policy: Do you want a plan that covers accidents, illnesses, or both? Are there waiting periods after your policy effective date? Are exam fees covered? And what if your pet isn’t a dog or a cat?
It’s best to enroll your pet as young as possible — before they might develop any conditions that are excluded from coverage. If you decide to change your pet insurance company down the line, it likely won’t cover treatment for any conditions your pet might have been diagnosed with while enrolled in the previous policy, so it’s best to do your research, enroll young, and stick with one policy for your pet’s lifetime.
Owners of older pets have to be especially inquisitive, as some plans don’t include coverage for chronic conditions and cancer treatments, or limit coverage after a certain age. (Oh, and spoiler alert: Zero pet insurance companies cover pre-existing conditions, and hardly any cover wellness exams, routine care, cosmetic procedures like tail docking, or dental visits unrelated to injuries.)
How much does pet insurance cost and how much do they cover?
Pet insurance prices vary greatly based on your area, your pet’s age, their size, their
We strongly recommend plans that have a reimbursement rate of 70% or higher, so you’ll get more of your money back, and you’ll also want to look into annual benefit limits, which is how much your policy will reimburse you during one calendar year.
Which pet insurance plan is right for you? We were wondering the same thing, so we decided to go hunt down a bunch of customer reviews and scour providers’ websites for the best values for various needs. Here’s what we found.