How Much Does Pet Insurance Cost?


black lab in lake

Just like medical bills for humans, veterinary bills for pets can quickly add up. Whether it’s for routine care or emergency treatments, trips to the vet could leave you with hefty bills that aren’t only shocking but can also be hard to pay off. And some veterinarians might even refuse to provide treatment to your furry companion if you aren’t able to provide payment upfront. 

What to do? Well, there are many pet insurance plans available that will give you support and peace of mind. With the right policy in place, you can rest easy, knowing that if you need to take your pet to the vet, you won’t be hit with an unaffordable bill. 
But what does pet insurance cost? And is pet insurance worth it when you consider how much you need to pay for it?   

How Much Does Pet Insurance Cost, on Average?

Like any other type of insurance, how much you’ll pay for pet insurance will depend on the type of coverage you want, as well as where you’re located and what insurer you go with. Prices are also based on the species that you’re insuring, whether it’s a dog, cat, bird, or exotic animal. 
Generally, the monthly costs might be more than $100 or as low as just $10, with average costs ranging from $30 to $50. This means that, on an annual basis, your pet insurance might cost anywhere from $120 to $1,200. 
Just remember, the price of pet insurance depends on a variety of factors, such as your pet’s breed, gender, and age, as well as the various levels of coverage that you want. For example, plans for dogs tend to be pricier than those for cats. And plans that provide coverage for larger pets or older pets typically cost more as well. Plus, if you have the option to do so, increasing or decreasing your deductible might affect your monthly premium too. See what we mean? 

Things to Consider as You Shop for Pet Insurance

As you shop for pet insurance, keep the following in mind:

    •Does the plan cover pre-existing conditions?

    •Does the plan cover the costs of routine care, or do you need to add on this type of coverage?

    •Are you required to pay for the cost of care upfront and then be reimbursed by the insurer, or is the insurer going to pay the veterinarian directly? What happens if you’re ever unable to pay the vet? Will the insurance step in and help? 

    •If it’s important that you are able to visit any veterinarian that you want, does the plan allow you to do so?

    •Are there any limits or caps when it comes to the amount of money that the insurer will be willing to pay? For example, are there lifetime caps, per incident caps, annual caps, or other limits on payouts?

    •Can you customize the plan to suit your needs and budget? For example, can you add extra coverage for things like chiropractic care for animals?

    •In addition to your monthly premium, what other out-of-pocket costs will you be responsible for? Is there a deductible, such as a per incident deductible or annual deductible? What is the reimbursement percentage?

    This all might seem like a lot to think about, but it’s important to read the fine print because plans can vary dramatically, and you want to be sure you’ll be covered for everything your pet would need. The last thing you want is to be surprised when your companion requires veterinary care! 

Where to Look for an Affordable Pet Insurance Plan

The good news is that finding a pet insurance plan is easy. One of the resources you can check out is the Direct Benefits Marketplace, where you can sort through the various options that are available in your area. Compare plans to see not only how much they cost, but what they actually cover, as some policies might be more limited than others. 
Overall, this insurance is surprisingly affordable, and it can help you save a lot of money when your pet needs to see the veterinarian. The minimal investment into a comprehensive plan can help ensure you’ll be able to take care of your furry family member, and that makes it worthwhile.