What You Need to Know About Pet Insurance for Dogs & Cats! Important Factors to Consider When Choosing an Insurance Provider & the Right Coverage for Your Pet!
- Katie, CVT, DN-CET, HABc, CPCN, PNCC
- Jul 27
- 13 min read
Updated: Aug 1
Have you ever had questions about pet insurance?
Chances are you've probably asked about it, been asked about it, or even done a little bit of research to learn more! It's important to take a close look, analyzing the coverage and deductibles instead of just seeing the monthly price tag! Insurance plans can vary greatly, and include anything from just injury coverage, all the way up to routine visits, food and supplements coverage, cancer treatments, and even end of life care.
While it's in our nature to be concerned about the price of insurance, we must evaluate all that comes with the price (value for the money)!
So, Is Pet Insurance Worth It?
Let’s Dive in & Talk About It!
*Yes, that's baby Maddie, at just 13 weeks old with her little lamb!
It's no secret that we all want the best for our furry family members—but when unexpected vet bills happen, it can be overwhelming. It can also leave us at a crossroads to provide the care they need for recovery and life saving measures, or to ultimately have to make a very difficult decisions.
Quick Facts:
Almost 70% of US households have a dog or cat.
Each family on average spends over $1,000 per year on vet bills.
Nearly 87 million households own a pet, only about 3% are insured!
47% of pet owners have gone into debt for their dog or cat
As you can see, we have a major gap in coverage!
💡 Why Consider Pet Insurance?
Pet insurance can help cover the cost of accidents, illnesses, surgeries, medications, and sometimes even routine & alternative care, so you never have to choose between your wallet and your pet’s well-being.
If you've been actively in the market for pet insurance, and you're ready to take the leap, you can:
Want to learn more about various coverage options and how insurance works within the pet care space? Continue reading for an in-depth breakdown!
Pros and Cons of Pet Insurance
As you may know, pet insurance functions a little bit differently than our own health insurance.
Overall, insurance can help mitigate the financial burden of pet ownership, by covering some or all of the costs associated with illness, disease, injury, or even routine & wellness care.
Pros
Peace of Mind:
During an emergency, you shouldn't have to juggle between the hard decision of getting your pet the treatment they need, and keeping your bank account afloat.
Financial Protection:
Pet insurance can help offset the cost of unexpected veterinary bills, so you can feel prepared if something were to happen.
Access to Better Care:
With insurance, pet owners may be more likely to pursue advanced treatments without the worry of high costs. Say yes, to more!
Customizable Plans:
Many providers allow you to choose coverage levels and deductibles that fit your budget.
Variety of Coverages:
While we mostly want to be sure our pets are covered in case of an emergency, some policies offer coverage for wellness/ routine & preventative care, such as vaccinations and check-ups, spay & neuter, dental procedures, and even chiropractic care, herbal supplements, and laser treatments! Choose what's most important to you, or choose it all (depending on the provider)
No Network:
It's a common misconception that veterinary clinics must contract with pet insurance companies, and bill them directly. This is simply not true! Unlike human health insurance, pet insurance does not contract with veterinarians, clinics or specialists, nor do these providers file any claims or send bills for you... therefore, you are free to choose any licensed medical provider that you want! This can even include specialists if you choose a plan to cover those costs. You are responsible for submitting any claims.
Cons
While pet insurance can be a wonderfully thing, there are some things to consider when it comes to choosing a policy, and a few things that may ultimately limit your coverage, or even cost you more than the average pet.
Enrollment fees:
Some providers charge enrollment fees, depending on your pet's age. The older your pet, the higher the fee.
Age Limits:
As animals age, the likelihood of them needing more frequent and extensive care and developing serious health concerns increases. Therefore, some providers may have limits on enrollment such as: "Must be younger than 10 years old." The sooner you get coverage on your pet, the better!
Monthly Premiums:
Pet insurance can be an additional monthly expense that may not be feasible for all pet owners.
Exclusions and Limitations:
Many policies do not cover pre-existing conditions, have waiting periods for certain health issues, and even have breed-specific exclusions.
Deductibles and Copays:
Out-of-pocket costs can still be significant depending on the plan structure.
Complexity:
Understanding the terms and conditions of different policies can be confusing and time-consuming in some cases.
Choosing a Provider
Many providers let you tailor your plan to exactly what you want, and what your pet needs!
While others provide a generic approach that has just a few options for coverage, with a lot of limitations.
When selecting pet insurance, consider the following:
Coverage Types:
Review the policy and know what it covers. Does it include routine care? Or only accidents, injury, and illness? Do you want alternative options (like chiropractic) and preventive care (such as annual wellness exams)? Policy coverage varies widely, so be sure to do your research!
Customization:
Choosing a plan that allows you to adjust the deductible, reimbursement percentage, and annual limits based on your financial situation may be important to you. This style of insurance quoting really puts you in the driver's seat so you can be sure you're getting what you desire in a policy, and precisely the coverage your pet needs.
Payment Style:
Now this one is important to know! Unlike human health insurance, that pays our doctor directly (and we never really see the bill), pet insurance works a bit differently.
Here's the process:
- Pay the clinic directly up front at the time of the appointment
- Get an itemized receipt for the visit
- Submit a claim to the insurance provider, with a full outline of treatments provided and costs
- Get reimbursed
Waiting period:
You need to be aware that there is a waiting period before your pet's coverage begins. This may range from just a few days for things like illness, to over 6 months for more serious conditions.
An example of waiting periods may look something like this:
5 days for accidents
14 days for illnesses
60 days for orthopedic conditions
6 months for cruciate ligament injuries
Premium Increases:
When and how do premiums increase? Some increase annually, and it's important to be aware of this! *Insurance companies should provide notice of price changes before they happen!
Provider Reputation:
Research different insurance providers for customer reviews and claims satisfaction.
- Do you get to talk to a live person when you call with questions?
- Do they have a lot of reviews for fantastic customer service and quick claim payouts (a few hours to a few days)? Or are you going to have to run around an automated system and wait weeks for reimbursement?
Customer Service:
If you're like me, there's nothing more annoying than starting a chat with support only to receive an automated message that you've reached them outside their normal business hours (8am-5pm)... Emergencies, accidents, and injuries don't have regular hours. And even if it happens during the day, you may not have time to wind down and contact insurance until late at night after your pet is discharged and you're finally home! 24/7 phone & chat support is ideal, but a company can still offer fantastic insurance plans and support even if their customer service hours don;t extend into nights and weekends!
Policy Terms:
Carefully read the fine print to understand exclusions, waiting periods, and claim processes.
Easy to Use Mobile App?
This would be a huge bonus! While most companies seem to have a user friendly mobile app, some may not. Having the ability to view your coverage, deductibles, submit claims, and have customer support right in your hand is a must these days! ...at least to me!
Deductibles in Pet Insurance
Deductibles are the amount you pay out-of-pocket before your insurance coverage kicks in.
It's no doubt that vet bills can make a dent in your wallet! And the reason you'e likely looking into pet insurance, is to offset the costs associated with either routine care, or for essentially some financial assistance in the event of a sudden injury or emergency. But unlike human health insurance, it's not all completely paid off. You will still have out of pocket expenses.
Here are the common types of deductibles that you need to be aware of:
Annual Deductible: A fixed amount you must pay each year before your insurance benefits begin. For instance, if your deductible is $500, you will be required to pay this amount per year before you can start getting any reimbursement from insurance. This is very common with auto policies, so you may already be familiar with this method!
Per-Condition Deductible: A separate deductible for each condition or illness, which can lead to higher overall costs.
For instance, if your pet insurance has a $75 per-incident deductible and a 100% reimbursement rate, and your pet has a $200 vet bill for an injury, you would pay the $75 deductible and get $125 back. If your dog or cat needs treatment for a different concern down the road that costs $500, you would need to pay another $75 deductible for this new condition and then get $425 back.
Personally I would always opt for an annual deductible!
*Note: Some insurers require multiple pets to be on separate policies, each with their own deductible. Be sure to read the policy carefully to see if this is the case, before purchasing a plan!
Factors Affecting Pet Insurance Coverage & Premiums
Every pet (and policy) is unique!
Here’s what can impact what you pay and what’s covered:
1. Age
The age of your pet can significantly influence premiums. Older pets may have higher premiums due to increased health risks. As mentioned earlier, many insurers also have limits on how old your pet can be when enrolling them as well.
2. Breed
Some breeds are predisposed to certain health conditions, which can affect coverage options and premiums. For example, certain breeds may have higher rates due to their genetic predispositions to certain health issues.
3. Location
Insurance is regulated on a state level, therefore pricing may vary based on local laws. Your geographic location can also impact prices due to the cost of living... Veterinary visits and procedures are likely to be far more expensive in a big city, versus a small rural clinic out in the country. Don't be surprised if your pet insurance application asks for your zip code!
4. Coverage Type
The type of coverage you choose (e.g., accident-only, comprehensive, or wellness plans) will affect your premium. More extensive coverage typically results in higher costs. Some pet insurance plans do not cover any preventative care like vaccinations, spay/ neuter, flea & tick prevention, etc. These are considered anticipated costs. Therefore, when you adopt a dog or cat, you know that these costs will arrive and you can prepare financially for them, whereas you aren't always able to plan for serious injuries or other emergencies. This is when pet insurance would be most important!
5. Deductibles and Reimbursement Rates
The percentage of reimbursement you choose can also impact your monthly payment.
Higher deductibles:
Usually leads to lower premiums
The higher your annual deductible, the less you will pay for a monthly premium.
Lower deductibles:
Can increase monthly costs.
The lower your deductible, the more you will pay out of pocket when a vet bill is due.
6. Pre-existing Conditions
Most pet insurance policies do not cover pre-existing conditions, which can limit coverage options and affect premiums if your pet has any ongoing health issues. For instance, if your dog has a history of paw licking, food allergies, anal glands issues, and joint problems, your insurance will not cover treatment for these ailments. It's also important to note that if you have pet insurance, and your pet is receiving care and treatment for something like allergies, and then you switch to another insurance provider... the new policy will consider it a pre-existing condition and will not cover it.
7. Policy Limits
Annual or lifetime limits on coverage can influence premiums. Policies with higher limits may come with increased costs. Some plans have unlimited payouts, which can be nice, especially if you have a high-risk breed for accidents, injuries, and other health concerns.
8. Discounts
Many insurers offer discounts for multiple pets, military service, or annual up-front payments, which can help reduce overall premiums. Some companies also offer home, auto, and life insurance policies, which can lead to further discounts if you bundle multiple lines of coverage!
Overall Takeaways:
Different insurance companies have varying pricing structures and coverage options, which can affect premiums, reimbursement rates, and what is covered. Understanding these factors can help you make informed decisions when choosing a pet insurance policy that fits your needs and budget.
Options for Pet Care Coverage
When considering pet insurance, you have various options to ensure your furry friends receive the care they need. Are you wanting all routine care covered? Or just injuries and illness?
There are a variety of coverage options that you may choose from with most pet insurance providers. For add-on coverage, you would usually choose an option called a Rider. This is an additional coverage on top of a regular plan.
*Please note that the list below is generalized and not specific (nor guaranteed) to any plan, provider, or policy. These are just a few examples.
Wellness Plans
- Annual wellness exams
- Microchipping
Spay & Neuter
Not all plans cover spaying and neutering, but some do! You may only receive a small reimbursement. This may also be included under the wellness plan category.
Dental Cleanings
Some policies include dental care, which is essential for maintaining your pet's health.
Diagnostic Testing
Proper testing is essential for a veterinarian to diagnose an illness or disease.
- Urinalysis
- Biopsies
- Blood work
- Radiographs
- Ultrasound
Hospitalization & Surgery
This can be perhaps the most expensive category requiring assistance to most pet owners.
- Hospitalizations for serious injury or illness
- Surgical procedures
- Anesthesia
- Follow-up care
- Exam fees
Parasitic Prevention and Treatment
- De-worming
Hereditary, breed-specific & congenital conditions
These conditions can be costly for pet owners! While some policies may exclude these all together, some do offer coverage!
- Hip & Elbow Dysplasia
- Brachycephalic Syndrome
- Patellar Luxation
- Intervertebral Disk Disease (IVDD)
Specialist Care
Needing to see an orthopedic surgeon, cardiologist, behaviorist, or neurologist? You may have these visits covered with your insurance policy!
Prescription Drugs
If you prefer the cost of prescriptions to be covered down the road, this may be an add-on you'd like to consider.
Cancer
An undoubtedly expensive condition to diagnose and treat. If you have an at-risk breed, you may want to see if your policy offers coverage for this!
- Diagnostics
- Treatment
- Medication
Accidents
Things happen! Accidents and injuries are unexpected, and insurance can definitely help cover these costs!
- Hit by a car
- Poisoning & toxin exposure
- Torn ligaments
- Foreign body
- Broken bones
- Bite wounds
- Fractured teeth
- Bloat
Illness
I could almost guarantee that every pet will deal with some sort of illness/ sick visit at least once in their lifetime. While for others, it may be an unfortunate recurring issue.
- Urinary tract infection
- Allergies
- Vomiting
- Diarrhea
- Skin infections
- Upper respiratory
Prenatal, pregnancy, breeding & whelping
Very few insurers offer this coverage because it's considered a planned expense. But if it's important to you, it's worth looking into!
Supplements
Some insurers happily cover supplements when prescribed by a veterinarian. There are some conditions though, like having to buy it through a veterinarian directly, however a few policies I have seen will allow you to buy it anywhere and will reimburse, as long as it was veterinary prescribed/ recommended.
Acupuncture and Other Alternative Modalities
Explore provider policies that cover alternative care options! Supportive treatments may be especially helpful for the healing process after a serious injury like a torn ACL, and can be very beneficial for senior pets dealing with chronic pain or mobility issues.
- Cold laser therapy
- Hydrotherapy
- Acupuncture
- Physical therapy
End of life care
Having your insurance company with you through the most difficult times, can make things just a little bit easier. You should not have to worry about cost when it comes to end of life decisions.
- Euthansia
- Cremation
- Burial
Commonly NOT Covered:
Obviously there are some exclusions, as with any insurance policy.
Grooming services
Pre-existing conditions
Cosmetic surgeries (ear cropping, tail docking, dew claw removal)
Preventable diseases and conditions
*This may include leptospirosis, fleas & tickborne disease, kennel cough, etc. These COULD be prevented with vaccine and monthly preventative treatments, so some insurers do not offer coverage for the treatment.
As you can see, you have many options!
It's your time to act and ensure your pets receive comprehensive care throughout their lives.
The good news?
You can create a personalized policy to fit your pet's needs, and your budget!
Exciting News: A Partnership with Pet Insurance Providers!
Personalized policies, at your fingertips!
I’m thrilled to announce that I’ve recently partnered with several fantastic and reputable pet insurance companies, which will greatly benefit pet owners everywhere!
Creating a personalized pet insurance policy allows you to tailor coverage to meet your pet's specific needs while also considering your budget.
This collaboration allows you to:
✔️ Compare Quotes
One of the most significant advantages of this partnership is the ability to compare quotes from multiple pet insurance providers all in one place. You can easily evaluate the costs and coverage options available, ensuring that you find a policy that fits your budget and your pet's specific needs. This streamlined process saves you time and effort, allowing you to focus more on what truly matters—your furry friend!
✔️ Tailor Your Coverage
Each pet is unique, and their insurance should reflect that. With this partnership, you have the opportunity to tailor your coverage options to suit your pet's individual health needs and lifestyle. Whether your dog requires regular veterinary care or your cat has specific health concerns, you can customize a plan that provides the necessary protection and peace of mind.
What is most important to you?
Do you have an at-risk breed?
What kind of lifestyle does your dog live?
A lazy couch potato in an apartment may have very different needs than an active hunting dog who lives out in the country.
Illness: Covers various health conditions and diseases.
Accident & Injury: Protects against unexpected injuries.
Wellness Plans: Includes routine care like vaccinations and check-ups.
Alternative Treatments: Covers holistic treatments and therapies.
✔️ Customized Your Deductible, Premium & Discounts
Choose a deductible that aligns with your financial situation. A higher deductible can lower your monthly premium, while a lower deductible means more coverage when you need it.
Monthly Premiums: Adjust your coverage options to find a price that fits your budget.
Discounts: Look for multi-pet discounts or loyalty programs.
✔️ Select a Reimbursement Rate Level
Determine a reimbursement percentage that works for you, typically ranging from 70% to 100%. This determines how much of the vet bill you will be reimbursed after the deductible is met.
✔️ Select the Best Option for Your Dog or Cat
With so many options available, making the right choice can be overwhelming.
This collaboration empowers you to select the best insurance option for your beloved pet by providing detailed information and insights into various policies. You can now continue to make informed decisions based on comprehensive comparisons, ensuring that your pet receives the best possible care without breaking the bank!
Additional Considerations
It’s essential to read the fine print to understand any gaps in coverage, exclusions and limitations.
By taking the time to personalize your pet insurance policy, you can ensure that your furry friend receives the best possible care while staying within your financial means.
Ready to Safeguard Your Pet?
Are you ready to take the essential step towards ensuring your pet's safety and your peace of mind? Investing in pet insurance is a proactive measure that can protect you from unexpected veterinary costs and provide your pet with the care they deserve. It’s not just about financial security; it’s about being prepared for whatever may come your way.
Visit the HTP Shop today for fast, no-obligation FREE QUOTES and customized solutions, perfectly tailored to your pet's needs, as well as your budget!
The process is simple and efficient, allowing you to explore various options and find the perfect insurance plan for your four-legged companion.
Don’t wait until it’s too late—secure your pet’s health and your financial well-being now!
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