Posted by Pet Honesty on

Is Pet Insurance Worth it? Pros vs Cons

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 While we can’t give you an exact answer on whether you should get pet insurance for your pet; we can provide you with two different scenarios...

In one... while out for an early morning jog, you hear a loud yelp coming from behind you. As you turn around, you see your dog struggling on the ground. Rushing over, you discover that their paw was injured when it got caught in a small hole.

Upon examination, the vet diagnosed a torn ligament in your pet's paw and recommended immediate surgery... without dog health insurance, the vet bill and treatment could be quite costly.

Luckily you had purchased pet insurance before this accident happened. As a result of your pet insurance, the cost of the surgery was significantly reduced, and you could rest easy knowing that your pup was in good hands.

In this second scenario, an unsuspecting pet owner also purchased a pet insurance policy.

In spite of this, the pet owner was left devastated when he found that his pet insurance didn't cover incidents of this nature.

The pet owner discovered that the accident and illness plan contained several loopholes and exclusions that prevented him from being covered despite paying a high pet insurance cost.

In the end, this pet owner was ripped off by his pet insurance company and ended up paying thousands of dollars more than he expected.

So what should you do?

As a pet parent, we know you want to make sure your pet is taken care of in all circumstances. However, it's not uncommon for pet parents to suffer at the hands of pet insurance companies either.

In this article, we'll outline the pros and cons of pet insurance so that you can make a well-informed decision on a pet insurance quote and whether the pet insurance costs are worth it.


How does pet insurance work?

Pet insurance coverage is a type of coverage that helps to cover the cost of veterinary care for pets if they become ill or injured. While there are different types of pet insurance policies around, most pet insurance plans will help to pay for routine check-ups, vaccinations, and, other medical treatments such as surgeries or prescription medications.

Generally, like all insurance, the pet parent pays a monthly premium and then can submit a pet insurance claim for reimbursement when their pet needs medical care.

Pros of Pet Insurance

Pro: Financial Security

One of the biggest benefits of pet insurance is that it provides you with financial security. Since medical bills for pets can get expensive very quickly, having a pet insurance plan in place helps to take some stress off your shoulders. With a pet insurance plan, if an accident or illness occurs, you’ll be covered and won't need to worry about spending a lot of money all at once.

Pro: Peace of Mind

With pet insurance, you can rest assured knowing that your pet will be taken care of in the event of an accident or illness. You won't have to worry about how you'll afford costly medical bills and treatments, as your pet insurance plan should cover most (if not all) costs.

Pro: Emergency Care and Disaster Coverage

Some pet insurance plans provide coverage in the event of an emergency or natural disaster. If your pet is injured or becomes sick due to a natural disaster, some insurers may cover part (or all) of the costs incurred by veterinary care. This wellness coverage can be especially helpful if you're struggling financially due to paying for other emergency disaster bills.

Pro: Quicker treatment due to no financial restraint

Having pet insurance also means that you can get treatment for your pet quickly. This is because you won't have to worry about how you'll afford the medical bills, as your pet insurance plan should cover the costs. As a result, your pet will receive much-needed treatments faster and more efficiently.

Cons of pet insurance

Con: Costly Premiums

The downside to pet insurance is that it can be expensive. Depending on what type of coverage you choose, monthly premiums can range from about $20 to upwards of $50 per month. It's important to compare different plans and make sure you're getting the best deal for your money.

What are premiums?

Premiums are the amount of money you pay monthly for your pet insurance plan. The cost of your pet insurance premiums will vary depending on what type of coverage you choose and how much protection you want for your pet.

two dogs

Con: Limited Coverage

Another downside of pet insurance is that some plans may have limited coverage. Make sure to read the fine print and ask lots of questions before signing up for any pet health insurance plan, as some insurers may not cover pre-existing conditions or certain procedures.

Con: Not always financially beneficial

It's important to note that pet insurance may not always be financially beneficial. Depending on your pet's age and health, some plans may end up costing more than you would pay out of pocket for medical and vet bills alone. We encourage pet owners to do their research and calculate what costs the most in the long run before signing up for any plan.

Con: Exclusions and Restrictions

When it comes to pet insurance, there are a lot of exclusions and restrictions that you need to be aware of. Certain pre-existing conditions or kinds of treatments may not be covered by your pet insurance plan, so make sure you read the fine print before signing multiple pets up for any plan. Additionally, some genetic conditions may are often not covered in accident-only plans.


What are the best ways to shop around for pet insurance?

When shopping around for the best pet insurance available, there are a few things you should look for. Firstly, make sure that the plan covers what you need it to cover and that it fits into your budget. Additionally, read through all of the fine print and ask questions about any exclusions or restrictions before signing up. Lastly, compare different plans from different insurers to make sure you're getting the best deal for your money.

What factors should I compare between any plans?

When comparing the best pet insurance companies and plans, you should look at things like the cost of premiums, coverage amounts, and any exclusions or restrictions in the policy. Additionally, make sure to ask questions about how claims are processed and whether or not there are specific waiting periods that apply to your plan.

What things should I look for my pet insurance to cover?

When purchasing pet insurance, make sure to look for the following:

  • Coverage for preventive care such as vaccinations and check-ups.
  • Coverage for injuries sustained during accidents or illnesses.
  • Coverage in the event of an emergency or natural disaster.
  • Reimbursement or discounts on prescription medications.

small dog

Is dental coverage covered in most pet insurance?

Most pet insurance plans do not cover dental care, so it's important to check the details of any plan before signing up. Although some pet insurers have policies that include coverage for routine dental cleanings and other treatments, these are typically offered as add-ons or extras rather than part of a standard plan.

What are alternatives to pet insurance?

If pet insurance isn’t right for you, there are other options available to help protect your pet. One option is to set up a pet savings account. This will allow you to save money over time and be prepared in case of any unexpected medical bills or treatments.

Additionally, some credit cards offer veterinary-specific coverage that can provide reimbursement if you use the card to pay for your pet’s medical bills.

What is the likelihood I'll have to use my pet insurance?

The likelihood of having to use your pet insurance will depend on the health of your pet. If your pet has no pre-existing conditions and is generally healthy, then the likelihood of needing to use your pet insurance will be low. However, if your pet has a pre-existing condition or is prone to illness such as allergies, then you may need to use your pet insurance more often.

Ultimately, it’s up to you to consider whether or not pet insurance is right for you given your pet's specific needs, your financial situation, and your level of comfort with potential healthcare costs.

How can I reduce the chances of my pet needing pet insurance?

One of the best ways to reduce the chances of having to use pet insurance is by making sure your pet is properly cared for. This means taking them in for regular check-ups, providing multivitamins, mitigating allergies with supplements, and staying up to date on vaccinations and other treatments. 

Additionally, some insurers offer discounts if you take certain preventative measures, such as spaying or neutering.

dog and cat


Ultimately, whether pet insurance is worth it depends on your situation. While there are some cons to consider, the pros of financial security and comprehensive coverage can outweigh them in many cases.

We encourage pet parents to do their research and make an informed decision that works best for them and their furry family members. 

Additionally, consider any circumstances before purchasing a policy and make sure that you get the best deal possible for your money. With careful consideration, you can make sure that your pet has the protection and wellness care it needs and deserves.