Adopting a pet is a big decision. Not only does it take a lot of responsibility, it can also be expensive. How much does pet insurance cost? According to the PDSA, the average cost of owning a dog is between $ 27,000 and $ 42,000, and for cats between $ 21,000 and $ 31,000.
These numbers are just averages and cover routine costs such as food, grooming, annual vet visits, and pet toys, and more. What they don't take into account are emergencies like accidents and illnesses that can cost thousands. If you've saved enough money to cover unforeseen costs, pet insurance to cover this type of expense may not be suitable for you. However, if you can't afford to pay $ 3,000 for emergency surgery, if your dog jumps off his ACL while jumping off the sofa, you should learn how to do pet insurance and sign up for it.
What is pet insurance?
Similar to personal insurance, pet insurance is a health insurance for pets that reimburses the owner for certain medical expenses and visits to the veterinarian. It's not all inclusive. In addition, some diseases and illnesses are excluded. Make sure you research various guidelines before committing to one.
What does it cover?
The best way to think about pet insurance is to compare it to catastrophe insurance: it doesn't cover everything (including routine checkups), but it's there when you do need it most, e.g. B. in emergencies. When you sign up for pet insurance, you need to take your pet to an exam to determine existing conditions. Existing conditions are not covered. Find out more about what is covered by pet insurance.
What are the different types?
Different There is insurance protection for pets, but most basic plans cover the following:
- Accident Injury: This type of pet insurance is intended for emergencies such as broken bones, cruciate ligament tears and meat wounds .
- Disease: If your pet suddenly becomes ill with stomach upset, skin infection, or other illnesses, pet insurance will help you reimburse veterinary bills. Common diseases are arthritis, cancer, colitis and more.
How much does pet insurance cost? It depends on which plan you choose. In addition, some policies may include (or allow you to add) extras such as castration and castration, microchips, annual vaccinations, dental procedures, hospital costs, flea and tick treatments, and non-business services. Some plans also reimburse emergency board costs if the owner is hospitalized and is unable to care for the pet for an extended period of time.
How does pet insurance work?
Similar to health insurance, pet insurance requires a deductible and covers a percentage of your pet's medical fees. Reimbursement varies by plan, but pet insurance can help reduce costly veterinary bills drastically.
How much does it cost per month?
How much does the pet cost? Insurance costs? It's not as bad as you think and there are affordable pet insurance plans. According to Value Penguin, the average monthly pet insurance cost is $ 43.14 for dogs and $ 26.77 for cats. These costs apply to pet insurance policies that cover both accidents and illnesses.
Insurance policies and pet costs vary depending on the type of pet you are adopting. Most plans only affect cats and dogs, but some involve rabbits, birds, and more. Plans also vary by breed: pure breeds are the most expensive to insure because they usually have more health problems than mixed breeds. Age is also a factor, as older pets tend to have more health problems than their younger counterparts, which makes insurance more expensive.
Value Penguin received offers from 11 insurance companies based on a healthy four-year-old male Labrador Retriever. They had a deductible of $ 500, an annual maximum of $ 5,000, and a refund of 80%. The costs were as follows:
For a better idea of the monthly premiums and to see which companies added value Penguin examined, see below:
They also collected offers for cat insurance based on a four-year-old female cat with no pre-existing conditions, also with a deductible of $ 500, an annual maximum of $ 5,000 and a refund of 80%. Quotes from various pet insurance companies are as follows:
Value Penguin was looking for information about cat insurance to better understand monthly premiums see below:
Pet insurance is not mandatory. Still, there is affordable pet insurance that comes in handy in emergencies. As you can see from the tables above, it is also not unreasonably expensive.
Do you have pet insurance? If so, tell us how much your policy's pet insurance costs each month!