Should I get pet insurance?

Guest Blogger – Melissa Pepper

When my Bernese Mountain Dog Riley was a puppy, we found ourselves in the emergency vet clinic after she ate an inordinate amount of socks and was…socked up. We were so grateful everything was ok, but we didn’t love the bill. Riley is almost nine now, and while we haven’t been back to the emergency clinic for socks (or anything else), we’ve spent on a lot of money on her care, including surgery last year for a cancerous lump.

As I reflect on these expenses as a pet owner, I’ve often wondered if pet insurance is worth it. For today’s blog, we’ll dive into what pet insurance is, how it works, and if it’s right for you.

What is pet insurance?

Just like human insurance, pet insurance helps alleviate the cost of keeping your pet healthy. Also like human insurance, there are different kinds of plans to choose from based on what you would like covered and how much you would like to spend. Many plans have a deductible, with higher deductible plans giving you a larger reimbursement.

How does pet insurance work?

Unlike human health insurance where you often have a small co-pay and do not pay the cost of the care up front, with pet insurance, you pay for care out of pocket and then are reimbursed by your insurance carrier when you submit a claim.

How much does it cost?

The cost of pet insurance varies depending on your pet’s breed, age, health, and what kind of plan you desire. According to ConsumerReports.Org, the average accident and illness monthly premiums start at $22 per month for a dog and $16 per month for a cat. If your pet is older or has preexisting conditions, premiums will be higher.

An alternative to pet insurance is CareCredit, which Klein Animal Clinic now accepts as a form of payment. CareCredit can be used to pay for expenses incurred when caring for your pet. Learn more here: https://www.carecredit.com/vetmed/

Is pet insurance right for my situation?

The biggest indicator if pet insurance is right for you is if you are looking for peace of mind and want to be prepared for emergencies when they arise. The Penny Hoarder blogger writes,

“While you may not get the most bang for your buck with a relatively healthy pet, there’s no way to predict what illnesses or injuries might occur, and for many pet owners, knowing they have a safety net in place is value enough.”

With Riley’s situation, I agree with The Penny Hoarder; the peace of mind of being able to take care of my furry family member might be enough for me to consider pet insurance for future pets at our house.

For more information and a comparison of various pet insurance plans, visit https://www.thepennyhoarder.com/insurance/is-pet-insurance-worth-it/