Considering pet insurance for your dog or cat?

Written by Rei Wang Reviewed by Kristin Westafer, DVM

We all know someone who is dealing with expensive veterinarian bills from his or her pet’s latest medical treatment. It can be a nightmare. To prevent this future dilemma, many pet owners nowadays are considering purchasing pet insurance for their dogs and cats.

Thinking about getting pet insurance? Here are few things you need to know.

Pricing

Pet insurance premiums range from $5 to $75 a month, the average plan is $25-$30 a month. This amount can vary greatly depending on:

Breed
Age
Coverage

Policies usually cover illness and accidents with more inclusive packages covering regular checkups and vaccines.

Sign up early

Plan ahead and save money in the long run. It’s best for your pet and for your pocketbook to sign up early, before your pet gets sick. Insurance companies generally exclude preexisting conditions, no prior illnesses also gives you more options when shopping for plans.

Save up

It’s still a good idea to save. Pet owners pay vet bills up front first and are then reimbursed by the insurance company. Companies will generally pay about 80 percent of the bill after a deductible.

Alternatives

There are alternatives. Some vets offer a prepaid health plan, which cover certain procedures at a discounted rate throughout the year. A few auto insurance companies will also cover pets in car accidents. Membership in Pet Assure gives you a discounted bill at a network of participating vets and animal hospitals.

So you’ve decided to get pet insurance, now what?

Make sure you do your research. There used to be just a few companies offering insurance but now there are many options. Visit company websites to see the different plans they offer and compare plans based on benefits, co-payments and deductibles. Read reviews and opinions on the web from more than one source to find the plan that is right for your pet.