Ballpark Estimate:Between $200 and $400 a year
If your pet ever became seriously ill, would you be able to afford the expense of the veterinary bills? While in some European countries, many pet owners view pet insurance as a routine cost of the responsibility of caring for their four-legged friends, in the United States, the concept hasn’t caught on in the same way.
The Difference Between Life And Death?
Pet insurance is a type of insurance policy that will cover some or part of the medical bills incurred by your pet throughout his lifetime. Such a policy can offer you important piece of mind should an emergency arise. In fact, some proponents point that pet insurance can mean the difference between life and death for your pet. That’s because if your pet gets sick and need an expensive surgical procedure, if you don’t have insurance and can’t afford to pay the bill yourself, you may be forced to put him to sleep instead.
Weighing The Benefits
Consider this: the American Pet Products Manufacturers Association estimates that dog owners spend about $211 each year, and cat owners $179 a year, to pay for their pet’s routine medical expenses. But if your pet gets sick, the stakes increase rapidly. Surgical procedures and treatments for serious pet injuries and illnesses can cost $1,000 to $5,000 or even more to treat. If you don’t have this kind of extra money lying around for an emergency, that’s where pet insurance can come in very handy.
The Logistics
Pet insurance policies offer different degrees of coverage, such as those that are limited to only accidents and illness, on up to more premium plans to promise full coverage that includes preventative care, such as annual checkups and immunizations.
Regardless of the level of coverage you select, you’ll pay for the policy on a monthly, quarterly or annual basis. Then when your pet needs medical care, you can usually go to the veterinarian of your choice (although some plans require you to use a veterinarian who is included in their own network). Just keep in mind that like medical coverage for humans, you will probably have deductibles, limits on what’s covered and some exclusions, too. (For instance, pre-existing conditions are usually not covered.)
What You Get
Every pet insurance company has its own unique rules and exceptions, so you’ll need to look carefully at all of the details involved before you sign on the dotted line. In general, when selecting a pet insurance plan, you’ll also need to make some important decisions. For instance, do you want coverage for immunizations and routine care? Would you also like prescriptions and even dental care included as well? Keep in mind that the more coverage you add in, the more you can expect to spend.
Basic Insurance
The most basic pet insurance plans usually cover evaluation, treatment, imaging costs and surgery for the following types of situations:
- Accidents (including attacks, being hit by a car and other injuries)
- Accidental ingestions (such as when your dogs eats something he shouldn’t have, such as chocolate, which can be poisonous to dogs, or a child’s toy, clothing or other objects)
Some experts say that this basic type of policy will be the most affordable and will give you peace of mind in case your pet gets into trouble with any of these types of situations.
Middle Of The Road Plans
If you desire coverage for illnesses or ailments that your dog’s breed could be predisposed to suffering, you can usually add this at an extra expense. Just keep in mind that some plans won’t cover any illnesses that stem from a genetic condition, so be sure to find out the exact details of what you are getting up front. (This can add about $10 a month to the expense of a basic plan.)
Premium Pet Insurance
For the highest level of coverage, you can splurge on a premium plan that will include the basic expenses listed above and will also add on the following instances as well:
- Cancer treatments and surgery
- Diabetes treatment and care
- Heartworm problems
- Illnesses
- Allergies
- Arthritis
- Routine Care
Read The Fine Print
Before you sign with a pet insurance company, make sure that they will accept a dog or cat regardless of his age. You’ll also want to be able to use the veterinarian of your choice, as well as the best specialist in case of any more serious illnesses or complications. Be on the lookout to see if the plan will allow this, or requires you to use only providers who are considered part of the insurance company network. Also check to be sure your pet insurer is licensed to provide coverage in your state. Finally, read the fine print to confirm that the premiums won’t be increasing as your pet ages, since this can be a costly proposition if you agree to this by mistake.
How To Find
If you want to find pet insurance, you can do a search online and see some of the companies that provide this type of coverage. You can also ask your veterinarian or local pet store if there are any companies that they recommend. Some of the companies that exist include Veterinary Pet Insurance Co., PetPlan Pet Insurance, PetCare Pet Insurance, ASPCA Pet Insurance, and Petshealth Care Plan.
What It Costs
What you’ll spend for pet insurance depends on the type of pet, his breed, age, health status and the level of coverage you select. Most plans have a deductible ranging from $50 to $100 per visit, and many cap the amount of expenses they will cover (at least in part) at about $10,000 per year.
Here are some general ranges that can give you an idea of what to expect:
- For cats, pet insurance ranges between $15 and $20 a month, or between $180 and $240 a year.
- For dogs, the cost of pet insurance can be between $20 and $50 a month, or between $240 and $600 a year.
On the low end, you’ll probably just be covered for catastrophic expenses, while higher premiums usually also cover routine care.
Most pet insurance premiums fall somewhere in the middle of these ranges. A good ballpark would be about $200 a year for cats and $400 a year for dogs.
Worth The Expense?
While some people believe pet insurance pays for itself in savings, not everyone believes this. Look at it this way. If you spend $500 a year on pet insurance premiums and your dog lives ten years, this means you will spend a total of $5,000 on this endeavor. While you might think that this could be less than the cost of your pet’s lifetime of annual health bills and treatments, you need to remember that for each vet visit, there’s probably a deductible, as well as a cap on how much of the expense will actually be covered. This means that if your dog needs surgery that costs $1,500, you may be responsible for a deductible of $100, then maybe only 70 percent of the balance would be covered (although some better plans pay up to 90 percent) and the amount could even be capped at $800 or so if your policy is one of the basic types. So in this case, of the $700 you can claim, you would receive back 70 percent or $490.
Of course every plan is different, though, so this is just one scenario and the plan you get could offer a higher rate of coverage, as well as a much higher cap for each incident or per year, so get all of the facts before making any decision. It’s also important to remember that if your pet has just one major injury or illness, you could end up coming out ahead anyway even if your plan isn’t all that generous.
When in doubt, though, some experts recommend taking the money you would spend on pet insurance premiums and putting it in a savings account. This way if the money ends up being needed, you’ll know that it’s there to cover your pet’s medical expenses. And if not, nothing is lost and you can always use it for something else instead.
FAQs
Who are the best pet insurers UK? ›
- Petplan is the UK's No.1 pet insurer.
- Petplan insure over 1.3 million pets.
- Award winning pet insurance.
- Petplan covers things others don't.
- 98% of Covered for Life® claims paid.
- You won't pay more for claiming.
- Petplan have over 40 years experience helping to keep pets healthy.
The average cost of dog insurance is around £34.47 a month*, however the cost of pet insurance to cover a dog can greatly vary in cost. This is mostly due to different dog breeds having very different health needs.
Is a Vets pet plan worth it? ›Is it worth the money? If you take advantage of all the benefits of a Pet Health Plan, they can work out very good value and save you money. In comparison to if you were paying individually for vaccinations and veterinary licensed flea and worming treatments.
Are cats cheaper to insure than dogs? ›The cost of cat insurance is usually cheaper than the cost of dog insurance because vet fees for cats are generally less than they are for dogs. Also, cats are slightly less expensive to insure than dogs because cats don't need third-party liability insurance.
Is PetPlan expensive? ›PetPlan aren't cheap. In fact, they're among the most expensive pet insurers. How much you'll pay depends on; Your pets breeds.
Which pet insurance has the best reviews? ›- Lemonade: Best Overall.
- Spot: Most Customizable Plans.
- Embrace: Best Deductibles.
- ASPCA Pet Health Insurance: Best for New Pet Owners.
- Fetch: Best Holistic Coverage.
- Healthy Paws: Best Coverage Limit.
- Prudent Pet: Most Comprehensive Plan.
Average pet insurance costs. How much you pay for pet insurance varies greatly. Monthly premiums can range from as low as $10 to higher than $100, though most pet owners can expect to pay between $30 and $50 per month for a plan with decent coverage.
Is it worth getting dog insurance UK? ›Pet insurance can protect you from the costs of treating your pet if they suffer from an illness - or are injured in an accident - and need treatment from a vet. It could save you from an unexpected - and potentially high - bill. Depending on what type of cover you have, pet insurance can also help with: Dental care.
How much does dog insurance cost per year in UK? ›How much is pet insurance UK? Dog insurance costs from around £23 a month (£274 a year) for accident and illness cover; prices go up from there for premium plans, higher vet limits, older pets and certain breeds such as bulldogs. Cat insurance costs start around £10 a month (£125 a year).
Do lifetime pet insurance premiums go up with age? ›You pay premiums every year during your pet's life, and the insurer will have to keep covering you – regardless of age or any existing conditions (subject to conditions). As your pet gets older, your premiums are likely to increase.
Does petplan pay euthanasia? ›
Do you cover euthanasia? In the sad event that your pet needs to be put to sleep you can claim for the cost of euthanasia within the veterinary fee benefit.
Do all Medivets charge the same? ›Fee levels are determined by the time and skill level required for a case as well as medicines, materials, laboratory tests, consumables and diets used.
What is a disadvantage of pet insurance? ›You might not use all the benefits. Some pet insurance plans cover conditions and treatments you may or may not ever use. For example, your pet might not ever need chemotherapy treatment or alternative therapy, like acupuncture but you're ultimately still paying for the “what ifs”.
Will my pet insurance go up if I claim? ›Will my pet insurance costs go up if I make a claim? More than likely, yes. Your insurance provider may take the view that if you've made one claim, you're more likely to make another – bumping up your premiums as a result. The same is true if you've had to claim for accidents or for losing your pet.
Does cat insurance cover vaccinations? ›Does pet insurance cover vaccinations? Vaccinations are not covered by pet insurance. Neither is spaying or neutering. But, having all your animal's vaccinations up to date could mean lower insurance premiums.
Can you negotiate pet insurance? ›Negotiating Premiums
You will typically see a quote before you even enter information about your pet. While many people will simply "buy" the plan at this quote, you will want to negotiate with the company for the best premium you can achieve.
The cost of owning a dog can be estimated at about $1,500 to $9,900 per year. There are ways to save money depending on the choices you make. Contributing factors include your dog's size and age, the region in which you live, your own lifestyle, and your dog's individual needs.
Are male cats more expensive to insure? ›The cost of cat insurance starts from around £10 a month, with female cats costing around 5% less to insure than males.
What is the cheapest insurance for a dog? ›| Rank | Insurer | Monthly dog cost |
|---|---|---|
| 1 | Embrace | $25.25 |
| 2 | Figo ($10,000 annual max) | $31.13 |
| 3 | Nationwide ($250 deductible, unlimited max) | $33.08 |
| 4 | PetFirst | $34.95 |
A deductible is the portion of the veterinary bill you're responsible for before the 90% coverage starts. Depending on your pet's medical condition and your chosen deductible amount, deductibles can be paid all at once or chipped away at over time.
How much does pumpkin pet insurance cost? ›
| Plan | Medium-size, mixed-breed dog | Domestic medium-hair cat |
|---|---|---|
| Pet Health Insurance | $68.05 | $43.61 |
| Pet Health Insurance + Preventative Essentials Pack | $87.00 | $55.56 |
| Rank | Animal | Number Of Households Owning The Pet |
|---|---|---|
| 1 | Dogs | 48,255,413 |
| 2 | Cats | 31,896,077 |
| 3 | Fish | 1,047,500 |
| 4 | Reptiles | 366,900 |
A 2021-2022 survey conducted by the American Pet Products Association (APPA) found that 70% of households own a pet. Among the 70%, there are 69 million U.S. households that own a dog compared to 45.3 million households that own a cat.
Does Walmart provide pet insurance? ›Overview of Walmart's Pet Insurance Coverage. Walmart's pet insurance plans provide a similar level of coverage compared to accident and illness policies offered by other providers. Like other pet insurance plans, Walmart lets you use any vet you want and you'll be reimbursed for your bill after you submit a claim.
Can't afford vets bill UK? ›You can contact the RSPCA or Blue Cross to see if they can offer help, or your local vet may be able to offer you an affordable payment plan. We would recommend getting insurance, as this can be a big help with unexpected veterinary bills.
How much are vet bills for dogs UK? ›How much does it cost to see a vet? You should expect to pay £50 to £60 for a standard vet consultation. However, an emergency, out-of-hours consultation with a vet could cost you £200. If your dog has a minor stomach upset or rash, a standard vet consultation could be over in 10 minutes.
What is a lifetime pet policy? ›Lifetime pet insurance cover
Lifetime covers your pet year after year, for your pet's lifetime, as long as you don't cancel your policy or let it lapse at renewal. As many insurers don't cover pre-existing conditions for new policies, many people choose to keep their Lifetime cover rolling.
The average pet insurance claim made increased from 679 British pounds in 2014 to 848 British pounds in 2021.
What is petplan excess? ›The excess is the amount you pay towards the cost of treating each illness or injury during the period of cover (i.e. the policy year or up to the maximum benefit), which is not related to any other illness or injury treated during the same period of cover.
Are Labradors more expensive to insure? ›Insuring a Lab costs roughly 20% more than the average price of dog insurance for a crossbreed dog.
How do pet insurance know about pre existing conditions? ›
Yes! Pet Insurance companies do require medical records in order to enroll any pet in a policy. These companies employ teams of veterinary specialists that are trained to review your pet's medical records in order to determine if your pet has any pre-existing medical conditions.
How is pet insurance calculated? ›Many factors are used to determine the premium you will pay. These factors include your pet's age, breed, species, where you live, the amount of medical coverage you choose, the amount of monetary coverage you choose, the deductible you choose, and the co-pay you choose.
Why do male dogs cost more to insure? ›Your dog's gender affects insurance costs as well. Most insurance companies will cost you more if you have a male dog – this is because male dogs are more likely to get injured or into fights, causing pay outs. Female dogs can also recover better from disease than males, which can reduce their insurance costs.
What happens with pet insurance if pet dies? ›Some pet insurance companies will also pay out if your dog dies but will only pay the amount you paid for the dog or its current market value. Some will pay for euthanasia but not cremation; will pay for both, and some will pay a portion, and the pet owner pays the balance.
What happens to pet insurance when pet dies? ›Pet Insurance for Death from Illness or Injury
The "Death from Illness or Injury" section of pet insurance, when applicable, typically covers the purchase or donation price of your pet if it dies or has to be put to sleep by a vet as a result of an illness or injury.
Your local animal shelter may be able to perform the procedure for as little as $100. At a full-service veterinary hospital, a euthanasia procedure may cost $500 or more, but this includes additional services like returning your pet's ashes to you in a special wooden box.
Can you pay monthly with medivet? ›You can pay by monthly direct debit or one-off annual payment, and with regular health checks included, we'll be here to help you keep your pet healthy and happy.
Why do vets charge so much? ›Vet care costs have increased because of the rising prices for drug and pharmaceutical products, while new technologies and the latest medical equipment are more expensive, explained Mark Rosati, assistant director of media relations for the American Veterinary Medical Association,over email.
Are Medivets good? ›Great Company to work for
The patients and clinical staff are always the main priority of the company and they work hard to try and support as much as possible in these uncertain times. I learnt so much from my role and felt I grew so much from being given this great opportunity.
Pet insurance mainly provides cover for veterinary fees if your pet is injured or becomes ill and is a sensible approach to making sure this does not become a concern. It can give you peace of mind that you are in a position to afford all the veterinary care that your pet may need.
Is Fetch pet insurance legit? ›
We at the Home Media reviews team found Fetch to be one of the best pet insurance companies nationwide, standing out for its comprehensive therapy coverage and discount options that help keep monthly premiums low.
What are the benefits of health insurance? ›The main purpose of medical insurance is to receive the best medical care without any strain on your finances. Health insurance plans offer protection against high medical costs. It covers hospitalization expenses, day care procedures, domiciliary expenses, and ambulance charges, besides many others.
Who are the best pet insurers UK? ›- Petplan is the UK's No.1 pet insurer.
- Petplan insure over 1.3 million pets.
- Award winning pet insurance.
- Petplan covers things others don't.
- 98% of Covered for Life® claims paid.
- You won't pay more for claiming.
- Petplan have over 40 years experience helping to keep pets healthy.
No matter which insurance company you choose to use for pet insurance, you can nearly always expect a yearly increase in your payments. Most pet insurance policies will increase by a small amount each year… However, the value by which this increases by can vary from policy to policy and also from year to year.
How long does it take for pet insurance to pay out? ›How long should I wait for my pet insurance payout? Once you've sent off the paperwork and providing all of the supporting documents (the receipts and invoices) are in order, you should have a decision from your insurer within 5-10 days.
Is it worth getting pet insurance for a cat? ›Every pet owner should consider pet insurance. Even if you believe you have enough money to cover veterinary costs, pet insurance could still save you thousands of dollars if your pet gets sick or injured. Especially if you have multiple pets, your out-of-pocket costs could add up considerably without insurance.
Is pet insurance cheaper if neutered? ›Pets that are spayed or neutered are less likely to stray, and spaying or neutering reduces the risk factors for a range of various diseases and conditions which entire pets are more likely to contract. All of this means that insurance policies for spayed and neutered pets cost less than for pets that are entire.
Do pets have to be vaccinated to be insured? ›It is a personal choice whether you choose to get your pet vaccinated or not, and it is understandable that some people may have concerns about it. While you probably won't be denied insurance for your pet, having them vaccinated could mean you are offered a higher insurance premium, or lower cover, or both.
Are Asda good pet insurance? ›Asda pet insurance was voted the 'Best Online Pet Insurance Provider' by YourMoney.com in 2019. Asda Money pet insurance is administered by Insurance Factory Limited and underwritten by West Bay Insurance Plc.
Is it worth getting dog insurance UK? ›Pet insurance can protect you from the costs of treating your pet if they suffer from an illness - or are injured in an accident - and need treatment from a vet. It could save you from an unexpected - and potentially high - bill. Depending on what type of cover you have, pet insurance can also help with: Dental care.
Who is purely pets underwritten by? ›
Purely Pets is a trading name of Insurance Factory. Its policies are underwritten by HDI Global Speciality SE.
How long does Argos pet insurance take to pay out? ›We want you to concentrate on looking after your pet when they're unwell, not worrying about the bills, so that's why we always aim to process your vet fee claims within 5 working days.
How long does Tesco Pet Insurance take to pay out? ›How to make a claim with Tesco Bank pet insurance. Tesco Bank has a simple online claims process that allows you to track the progress of your current and previous claims. Tesco Bank pet insurance aims to respond to all claims within 7 days.
Does Asda Pet cover euthanasia? ›Asda Pet Insurance vs Agria Pet Insurance
Agria plans offer some desirable features, such as dental, euthanasia, 6+ months to claim and cremation/burial, plus congenital conditions are covered.
If you pay by Direct Debit, we will pay your claim into the same account as we take payment from. If you pay by another method, you will need to nominate an account on your claim form and provide details. We can arrange to pay your vet direct or reimburse you your eligible costs if you have already paid.
What is a disadvantage of pet insurance? ›You might not use all the benefits. Some pet insurance plans cover conditions and treatments you may or may not ever use. For example, your pet might not ever need chemotherapy treatment or alternative therapy, like acupuncture but you're ultimately still paying for the “what ifs”.
Will my pet insurance go up if I claim? ›Will my pet insurance costs go up if I make a claim? More than likely, yes. Your insurance provider may take the view that if you've made one claim, you're more likely to make another – bumping up your premiums as a result. The same is true if you've had to claim for accidents or for losing your pet.
Can't afford vets bill UK? ›You can contact the RSPCA or Blue Cross to see if they can offer help, or your local vet may be able to offer you an affordable payment plan. We would recommend getting insurance, as this can be a big help with unexpected veterinary bills.
What is a lifetime pet policy? ›Lifetime pet insurance cover
Lifetime covers your pet year after year, for your pet's lifetime, as long as you don't cancel your policy or let it lapse at renewal. As many insurers don't cover pre-existing conditions for new policies, many people choose to keep their Lifetime cover rolling.
In the short term we are aiming to process all claims within 4 weeks from receipt of all required information. Ensuring you and your vet have provided all relevant supporting information, will help us to reduce handling times and speed up the assessing time.
Where are purely pets based? ›
We have a dedicated team based in the UK who aim to make insuring your pet easy, simple and transparent. We offer a range of Lifetime policies, unlimited 24/7 Video Consultations with a Vet and an online policy management portal which all give you greater flexibility in managing your policy and your time.
Does Argos Pet Insurance pay the vet direct? ›There is no guarantee that we will pay your vet direct. Please confirm with your vet that they can deal directly with Argos Pet Insurance. b How would you like to be paid: Cheque – For joint policy holder, vet or to opt out of electronic payment.
Who is Argos Pet Insurance underwritten by? ›Provided by Pinnacle Insurance plc
With Argos Pet Insurance, you will receive 24/7 veterinary team assistance and advice to help you if your dog falls ill.
- Claims Helpline: 0845 078 7500.
- Claim Form.
- claims@argospetinsurance.co.uk.