is pet insurance worth the cost?

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Is pet insurance worth the cost? | Petplan
Posted by fetch! blog editors on Aug 15 2019

Some people think of pet insurance as an unnecessary luxury, but this couldn’t be further from the truth. Americans will spend more than $18 billion on vet care this year alone*, and these costs fall almost entirely on pet owners to pay out of pocket, since a majority of pet parents do not have pet insurance. With so many pets without coverage, costs can mount quickly, and many families aren’t prepared.

The cost of pet insurance is usually a few hundred dollars per year**. That’s less than what the average American spends annually on coffee. When you consider just how expensive vet bills can be, pet insurance is a relatively small price to pay to keep your furry family member safe.

Is dog insurance worth it?

Over 63 percent of households in the United States have a dog. That's over 89 million pups according to the American Pet Products Association's 2019-2020 National Pet Owners Survey!

Of course, with as many dogs are there are, it's only natural that a good number of those curious pets will get into unexpected trouble. In fact, every six seconds, a pet parent is faced with a vet bill for over $1,000†.

Thankfully, dog insurance can save pet owners up to 90% on unexpected trips to the vet’s office for things such as broken bones, swallowed socks and ear infections.

Conditions like cancer require treatments that cost canine parents thousands of dollars, but when your dog is protected, you only have to worry about a small fraction of the total. The best part? This frees you up to focus on your pet’s recovery.

Customize your pet insurance cost

While the price of pet insurance depends on a few factors like your pet’s age, size, breed and location, premiums can cost as little as $20 per month**. Pet insurance is a smart investment for any pet, large or small.

Before you enroll your pet, here are a few important things to know:

  • ● The cost of pet insurance is generally higher for dogs than cats, because larger animals are more prone to health problems‡.
  • ● Older animals are also more generally more expensive to insure than younger ones.
  • Pre-existing conditions are not covered by any pet insurance provider.
  • ● The lower your deductible, the more you can expect your pet insurance policy to cost.

So, is pet insurance worth it?

Pet parents insure their pets for the same they have health insurance for themselves. Your pets are members of your family and they deserve the best care available. Pet insurance guarantees you can provide just that.

Read a policyholder’s story to learn how pet insurance proved to be life-saving.

To get a free pet insurance quote to protect your furry loved one, visit Petplan pet insurance.

*Pet Industry Market Size & Ownership Statistics, American Pet Products Association

**State of the Industry Report, 2018 Highlights, North American Pet Health Insurance Association

†According to Petplan claims data

‡Average Cost of Pet Insurance: 2019 Facts and Figures, Value Penguin by Lending Tree