Pros and Cons of Pet Insurance

The lifetime expense of a dog is estimated to be $10,719, while the lifetime cost of owning a cat hovers around $12,050. That’s a huge investment in your furry friend, but one that most pet owners are more than happy to make. 

Pet insurance offers an option for pet owners to reduce the financial burden of owning a pet by helping to cover veterinary care. Is it the right choice for you and your pet?

What Is Pet Insurance?

Pet insurance is an insurance policy with a monthly premium, just like car insurance or homeowner’s insurance. If your pet becomes sick or injured, your pet insurance may cover or reimburse your costs. 

Each policy is different, so you may need to pay a deductible and a percentage of the bill. The average cost of pet insurance varies based on species, breed, age, and location of your pet. 

Pros of Pet Insurance

Many pet owners prefer to pay for health insurance to enjoy the peace of mind and benefits it offers:

  • Covers high costs of unexpected surgeries or treatments so that you don’t need to dip into your emergency savings
  • Creates an easy way to budget pet care costs
  • Allows flexibility in choosing your vet

Cons of Pet Insurance

Unfortunately, pet insurance is not all encompassing. It does have its limitations. A standard pet insurance policy, for example, costs $30 to $40 a month to cover accidents and illnesses. It does not, however, cover these important treatments or issues:

  • Dental disease
  • Behavioral training
  • Routine checkups
  • Preventive care
  • Hip dysplasia
  • Grooming
  • Preexisting conditions (unless it is one that can be cured, in some cases)

Add-ons are available to enhance your coverage to include exams, routine checkups, prescriptions, and other needs, but that adds to the cost of your monthly premium as well. 

To learn more about pet insurance options and get advice from a professional, call or visit Pet Urgent Care at (813) 279-6500. Our compassionate veterinarians are here to help your pet live his happiest, healthiest life, with or without insurance.