Pet Insurance Policy: Is It Worth It?

For some dog owners, no cost is too high when it comes to their beloved pets. They purchase the best dog food, enroll their dogs in a puppy school in Orem, and have access to a trusted veterinarian whenever Bruno is ill.

Of course, there are also many pet owners, who, much as they’d like to, can’t spring for $5,000 upfront for surgery after their dogs got an unexpected bacterial infection.

Whichever side of the spectrum you fall into, about it may be prudent for you to look into pet insurance. Like your life insurance policy, pet insurance helps protect you from unexpectedly needing to pay an enormous amount for your dog’s veterinary bills. And like many pet owners, you’ve probably wondered whether it’s worth the monthly premiums to secure the wellbeing of your canine companion.

To help you make an informed decision, we’ve broken down what getting your pet insured would typically involve.

Pet Insurance: How Does It Work?

In an Associated Press poll, 41 percent of pet owners surveyed said they’re worried that they would not be able to pay the cost of veterinary care in case their pets got sick. Purchasing a pet insurance policy may address this worry.

Pet insurance works just like life insurance: you choose the coverage and pay for the monthly premium. The coverage varies, from insuring your dog for most health issues to covering only major illnesses. And similar to how your age and health affect your insurance premiums, your dog’s monthly premium is based on their age, breed, and reproductive status.

Should You Get Your Pet an Insurance Policy?

Like any financial decision, buying an insurance policy for your dog should follow a well-thought-out process. There are two things to consider here: your financial situation and the wellbeing of your dog.

If your dog is generally healthy, you might decide that an insurance plan isn’t necessary. But, if you could spare a few dollars every month—the monthly premium can go as low as $10—a policy with basic coverage will at least provide you with something to fall back on.

However, if your dog is sickly or tends to get injured, having an insurance policy can mean major savings for you. Remember that if you care about your dog, the worst thing that could happen if they get sick or injured is realizing you can’t afford to have them treated. In this way, the coverage from your pet insurance policy can literally save the life of your beloved dog.

How to Choose a Pet Insurance Policy?

As mentioned earlier, the exact cost of your pet’s health insurance policy will vary based on factors such as their age and breed. These are factors you can’t control. However, you have full control deciding which aspects of your dog’s insurance policy are most important to you.

Do you want to insure your dog against serious injuries? Or maybe your pooch is more prone to sickness? Do you want to cover your bases on both accounts? These aspects will each reflect differently to the overall cost of your pet insurance premium. Choose what you think will be more beneficial to your dog down the line.

Keep in mind that, while having pet health insurance is great, it’s not for everyone. When trying to decide whether to get one or not, carefully consider all the things we mentioned above.