Need That Money

Pet Insurance: Why Your Furry Friend Needs It

The Importance of Pet Insurance

Pets are a valuable addition to any family, bringing joy and companionship to those who love them. However, owning a pet also means being responsible for their health and wellbeing.

One way to ensure that your furry friend always receives the care they need is by investing in pet insurance. In this article, we will explore why pet insurance is crucial, the actual cost of veterinary emergencies, and how to choose the right type of pet insurance for your needs.

Cost of Veterinary Emergencies

No one wants to think about their pet getting sick or injured, but it’s a reality that pet owners must consider. Unfortunately, veterinary bills can be incredibly expensive, leaving pet owners with steep out-of-pocket costs.

In fact, according to the American Pet Products Association, pet owners spent an estimated $30.2 billion on veterinary care in 2019 alone. A medical emergency is not something any pet owner can predict, and the financial burden that follows can be overwhelming.

This is where pet insurance comes in. With pet insurance, you can have peace of mind knowing that your pet’s medical bills will be covered.


Cost of Veterinary Emergencies

One of the most significant benefits of pet insurance is the ability to offset the cost of emergency veterinary care. When your pet needs medical attention, your insurance policy can cover a substantial portion of the associated costs, depending on the type of policy you have.

Let’s take a look at some actual costs of veterinary emergencies to put things into perspective. An ear infection can cost around $300, while a broken leg can set you back $2,500 or more.

If you have to rush your pet to an emergency animal hospital, the bill can easily exceed $1,000. These costs can be especially difficult to cover when they come unexpectedly, which is why pet insurance is so important.

Pet Insurance Cost Comparison

Pet insurance typically works by paying a monthly premium to the insurance company, which helps you plan for unexpected veterinary expenses. To determine which policy is right for you, it’s important to compare the monthly premiums charged by different pet insurance companies.

While there are many factors that can influence the cost of pet insurance, it’s important to note that the most comprehensive and complete policies typically come with a higher monthly premium. However, this cost is usually worth it in the long run, as they can offer excellent coverage for a variety of situations.

Types of Pet Insurance Policies

Now that we know why pet insurance is crucial and what it costs, let’s take a closer look at the different types of policies available. 1.

Accident-Only Coverage Plans: As the name suggests, accident-only policies cover emergency care related to accidents. This might include broken bones, lacerations, or severe internal injuries.

This type of policy is usually the cheapest option, but it doesn’t cover illnesses or preventive care. 2.

Accident-Illness Coverage Plans: This type of policy covers both accidents and illnesses. It typically includes emergency care, hospitalization, diagnostics, and treatment for chronic illnesses.

This type of policy is more expensive than an accident-only policy, but it offers more comprehensive coverage. 3.

Comprehensive Coverage Plans: Comprehensive coverage policies are nose-to-tail policies that cover everything from routine visits to accidents and illnesses. They usually have higher monthly premiums, but they can provide excellent coverage for a wide variety of situations.

4. Pet Wellness Coverage Plans: Wellness plans are designed to cover routine preventive care, such as checkups, vaccinations, and flea and heartworm prevention.

This type of policy is often added on to a more comprehensive policy or purchased separately.


In conclusion, pet insurance is a crucial investment in your pet’s health and wellbeing. With the high costs of veterinary care, pet insurance can help provide financial protection when your furry friend needs medical attention.

By comparing policies and selecting a plan that fits your budget and your pet’s needs, you can ensure that you’re prepared for any veterinary emergency that comes your way.

3) What Pet Insurance Covers

When considering a pet insurance policy, it’s essential to understand what it covers to ensure you select the right insurance policy for your furry friend’s needs. In this section, we will explore the reimbursement system for pet insurance, what expenses are covered, and common exclusions.

Reimbursement System

Pet insurance policies usually operate on a reimbursement system. This means that you’ll pay a monthly premium to the insurance company, and in exchange, the policy will cover a portion of your pet’s medical bills, depending on the policy’s coverage level, deductible, and annual limit.

When making a claim, you will submit your pet’s medical bills to the insurance company. They will then reimburse you a predetermined percentage of the costs, typically around 80%.

The reimbursement rate may vary depending on the policy you choose.

Covered Expenses

Pet insurance policies can vary widely in the specific conditions and treatments they cover. However, most policies cover the following types of expenses:


Surgery: Surgery is one of the most expensive veterinary treatments that can easily cost thousands of dollars. Pet insurance covers most surgical procedures, from minor surgeries such as wound stitching to major surgeries such as tumor removal.

2. Emergency exams: Pet insurance usually covers the cost of emergency visits and medical treatment at any time of the day, even during the weekends and holidays.

3. Prescription medications: When your beloved animal companion needs medicines for a condition, the cost can add up quickly.

Pet insurance policies cover most kinds of prescription medications, including antibiotics, pain medications, and chemotherapy drugs. 4.

Cancer: Cancer is a common and severe illness in pets and can lead to substantial veterinary bills. Pet insurance policies often cover the costs associated with cancer treatment, including chemotherapy and radiation therapy.

5. Foreign object ingestion: Many curious pets ingest or swallow foreign objects such as toys, bones, or other items, leading to life-threatening conditions that can refer to costly vet bills.

Pet insurance policies cover the costs associated with endoscopy, ultrasounds, and surgery to remove those items.


Like any insurance policy, pet insurance has some exclusions. These are the conditions and treatments that the insurance policy doesn’t cover or only covers under certain circumstances.

Some common exclusions from pet insurance coverage include:

1. Preexisting conditions: Any condition that your pet experienced before enrollment in the policy isn’t covered by pet insurance policies.

2. Specific exclusions: Certain pet insurance plans exclude specific illnesses or treatments, such as grooming or elective procedures like declawing and tail docking.

4) How Pet Insurance Costs Are Determined

The cost of your pet insurance policy is based on several factors, including your pet’s age, breed, location, and the policy you choose. Understanding these factors can help you make an informed decision when selecting a policy.

In this section, we will explore the key determinants of pet insurance costs.

Factors Affecting Cost

The cost of a pet insurance policy varies depending on the type of animal, breed, age, location, and other factors that influence the risk. For instance, the cost of pet insurance coverage for dogs can be higher than for cats due to their higher risk of accidents and illnesses.

Also, certain breeds of dogs, like Great Danes and Dobermans, come with higher premiums than smaller breeds like Chihuahuas or Dachshunds. As a pet ages, the chances of developing health problems increases, making premiums for older pets higher than for younger ones.

Additionally, living in an urban area with higher vet bills can raise your premiums relative to rural areas. Reimbursement Level, Deductible, and Annual Limit

The reimbursement level, deductible, and annual limit you choose for your pet insurance policy can also affect your monthly premium.

Reimbursement level refers to the percentage of your pet’s medical bills that the policy will cover. A higher reimbursement level results in a higher premium.

Deductible refers to the amount of money you’ll pay out-of-pocket before your pet insurance policy starts covering the medical costs. Choosing a higher deductible results in lower premiums, but you’ll have to pay more out-of-pocket before the insurance company starts reimbursing.

The annual limit refers to the maximum amount of money your pet insurance policy will reimburse you for medical expenses each year. When choosing an annual limit, consider how much you can afford to pay out-of-pocket, along with the amount of coverage you need for your pet.


In conclusion, pet insurance offers a safety net for pet parents to ensure that their furry friends receive necessary medical care. The types of expenses covered and exclusions depend on the policy selected.

Determinants of the cost of pet insurance include factors such as breed, location, and type of animal. Understanding how pet insurance works and what expenses are covered can help pet owners make informed decisions to ensure they can care for their pets in the best way possible.

5) The Right Pet Insurance Plan

Choosing the right pet insurance plan is vital for your pet’s well-being and your peace of mind. In this section, we will explore how pet insurance can prevent financial risk, how it supports the treatment and medication needed by a pet, and the key factors to consider when choosing the right plan for your pet.

Prevention of Financial Risk

When it comes to pets, healthcare can be unpredictable, and the resulting bills are often expensive. Pet insurance offers a preventive measure, eliminating the financial risk associated with unexpected health problems.

This insurance allows pet owners to avoid searching for alternatives such as credit cards, savings accounts, or even borrowing from friends to pay for a pet’s medical expenses. Having pet insurance assures that the pet parent can focus on getting their furry friend the care they need without worrying about the financial burden.

Monthly premiums can save owners from massive bills down the road, preventing financial stress.

Treatment and Medication for Pets

Pets it is in everyone’s interest to keep them healthy and happy, which is where pet insurance comes in. Whether it is treatment for ongoing medical conditions or a sudden emergency, pet insurance gives you peace of mind knowing that you can afford your pet’s medical needs.

Policies that cover medications are crucial since it can become expensive, fast. Prescribed pet medications like anti-inflammatory drugs, insulin, or treatments for heartworms and fleas can be costly.

A comprehensive policy can help pet owners prioritize the health of their pets without feeling a financial strain.

Choosing the Right Plan

Choosing the right pet insurance plan can take time. Here are the essential factors to consider when selecting the best plan for you and your pet.

1. Comprehensive Coverage: A comprehensive policy that covers accidents, illnesses, and preventive care is important.

This coverage ensures that in times of need, pet parents won’t have to pay out-of-pocket. It’s important to read the plan carefully and ensure that your pet’s existing conditions are not exclusions and looking for options that cover both chronic and episodic health conditions.

2. Lifetime Value: Have an idea of how long you plan to have your pet.

If you intend to have your pet as a long-term family member, a policy with lifetime coverage may be more financially sound. 3.

Financial Protection: It’s essential to understand the claim process from your chosen insurance provider. Look for coverages such as deductibles, the maximum benefit amount per year, and reimbursement percentages.

4. Customer Service: Customer service can make a tremendous difference when choosing a pet insurance company.

It’s important to research the customer service quality of the provider you are considering. Reading reviews, talking to friends or fellow pet owners, and checking online forums can help determine excellent customer service quality to make the claims process smoother if needed.

5. Claim processing time: It’s important to understand how prompt the claim processing and reimbursement time take.

Some policies process claims quicker than others and offer a shorter reimbursement period. In conclusion, pet insurance can give pet owners the peace of mind of providing their beloved pet with necessary medical treatment without worrying about any financial burden.

Before you decide on an insurance policy, you should carefully research the different coverage options. Choosing the right pet insurance takes time, but it’s essential to find a policy that fits your budget, provides adequate coverage, and offers lifetime value.

Pet insurance is crucial for providing financial protection and ensuring that pets receive proper medical care. Policies cover a range of expenses, including accidents, illnesses, and preventative care, and can offset the high costs of emergency veterinary care.

Choosing the right policy requires careful consideration of factors such as comprehensive coverage, financial protection, lifetime value, and customer service. With pet insurance, pet owners can have peace of mind, knowing that their furry friends are well taken care of.

The takeaway from this article is that pet insurance is a valuable investment to keep your pets healthy and happy while also protecting yourself from financial risks.

Popular Posts