Pet insurance benefits and financial considerations for pet owners

Is Pet Insurance Worth It?

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If you have a pet, you face a dilemma – should you get pet insurance? The answer really boils down to the response to another question – is it worth it? Does it give you peace of mind within an affordable budget, or is it a financial burden with a limited reward? Let’s help you decide.

Good Reasons to Get Pet Insurance

  • If your pet ever needs life-saving treatment, your insurance will cover a percentage of the expense. 
  • You want peace of mind because you can give your pet covered treatment without worrying about the cost.
  • You believe you may have to face regular vet bills because you chose a breed prone to certain health issues.
  • You prefer to pay small ongoing sums for insurance rather than face a big, unexpected financial shock at some point down the road. 

Is Pet Insurance Worth the Cost?

The main reason you need pet insurance is that you may end up in a situation where the cost of life-saving treatment is more than you can afford to pay.

  • Example: If your canine friend is diagnosed with cancer, like many dogs aged ten or older, treatment could cost more than $10,000. 

Other expenses that this insurance will help with are:

  • Repair of cruciate ligament – $1,000 to $3,000 per knee
  • Removal of foreign object from stomach – $3,000 plus
  • Cat urinary tract blockage – $1,000 plus
  • Fracture – $2,250 plus

How It Works

Just like health insurance for humans, you pay a monthly premium for coverage. A percentage of your covered veterinary bills will be reimbursed after you’ve paid your deductible.

You pay a small amount of money every month to prevent having to max out your credit cards at some point down the road. However, not only do you need to protect your pet, you also need to safeguard your wallet. Because most plans allow you to customize your deductible and reimbursement rate, you can find one that’s a good fit. 

  • Here’s a handy link for advice on finding the right pet insurance for your needs.

Remember that your monthly premium will tend to rise as your pet ages and the cost of vet care increases. A premium you initially saw as a bargain for your puppy or kitten may begin to feel more financially burdensome as time passes. However, resist the temptation to abandon your policy just when you might need it the most.

  • Insure your pets while they are young and healthy and premiums are inexpensive.

What Pet Insurance Won’t Cover

Generally speaking, insurance for your pet doesn’t cover routine vet trips or preventive or wellness care. Insurance is meant for unexpected illnesses, accidents, and emergencies. However, some insurance providers do offer regular maintenance coverage, but you’ll pay extra.

Treatment for a condition that your pet developed before the starting date of your policy will not be covered. However, if you have a purebred dog, when deciding if pet insurance is worth it, look for a plan that will cover treatment for hereditary issues that may present at some point in the future. 

  • Example: If you fell in love with a breed known for having issues like glaucoma or hip dysplasia, insurance allows you to cope with the expense of any future treatment more easily.


When considering if pet insurance is worth it, understand that having insurance doesn’t guarantee that you’ll end up saving money. However, being cushioned by insurance makes it easier to focus on what’s best for your pet without fearing you’ll deplete your wallet.

Does Pet Insurance Include Life Insurance?

No, but pet life insurance can supplement pet health insurance. Life insurance will not only cover funeral expenses but also reimburse your pet’s value if it’s stolen or otherwise disappears. You may want to consider this if you have a valuable purebred animal or a pet that also serves as a guide dog.

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