Is Pet Insurance a Waste of Money?

Pet insurance can save money on veterinarian bills while helping ease emotional stress related to economic euthanasia decisions. But it isn’t an inexpensive investment.

As hereditary conditions can be costly, it’s essential that you have a plan that covers them. Adjust the co-insurance, deductible and annual limits accordingly in order to keep your monthly premium down.

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As pet owners, our bond with our fur babies is unparalleled. From belly scratches to kisses on the nose, their unconditional love is one of our greatest treasures – but their care can become costly; that’s where pet insurance may come into play.

Although pet insurance won’t always save money, its premiums may often be much less than vet bills if your pet is healthy and you choose a policy with low deductible, high reimbursement, and an annual maximum limit.

As it’s essential to remember, unexpected illnesses and injuries can strike at any time, so investing money spent on insurance policies in savings won’t protect you against those costs; failing which euthanizing may become necessary – which can be extremely heartbreaking for both sides involved.

Pet insurance policies vary in cost depending on factors like breed, age and location. Larger pets tend to cost more to insure than smaller ones while older animals often experience more health problems than their younger counterparts. You can usually find an affordable policy by shopping around and finding a company offering low deductibles with high reimbursement amounts.

As opposed to human health insurance policies and riders, which can be complicated and require professional interpretation for understanding, pet insurance can be straightforward and easily understandable. Policies are easily comparable between providers, and quotes can typically be provided from multiple companies within minutes with no commitment necessary – giving peace of mind while simultaneously saving money! With rising food, toy and treat prices making peace-of-mind investments worthwhile.

As is true with fire or disability insurance policies, pet insurance premiums should never need to be used. But saving is another form of hope – as you hope your pet lives long and happily while building up enough savings for unexpected emergencies.


As with people insurance, pet insurance helps offset some of the expenses related to medical care for your animal companion. Premiums will vary depending on the type and level of benefits selected: some policies offer accident-only protection; others can cover hereditary/genetic diseases; while the most comprehensive plans provide wellness care as well as funeral-related expenses. An annual maximum and reimbursement levels determine how much out of pocket spend per incident; deductibles and co-payments add further costs to consider.

Alternative therapy (acupuncture, laser therapy, hydrotherapy etc), exam fees and wellness visits may also be covered – this can be especially helpful for those struggling to afford proper veterinary care. In addition, some companies provide direct payment plans so you can pay directly and have your insurance company reimburse later – saving both time and money if your pet requires immediate attention.

As with all insurance policies, pet owners must remember that pet insurance provides them with protection against the unknown – though it’s unreasonable to expect no costly injuries or illnesses will arise; so choosing the appropriate plan for your individual situation is of the utmost importance.

Pet owners who perceive pet insurance as being unnecessary usually never need it themselves, however it would be unwise and unrealistic to assume your animal won’t need some type of veterinary care at some point during its lifetime.

Pet insurance has often made the difference between euthanizing an animal or seeing them recover after needed surgery, and successfully coming home afterward. I know first-hand of its value; hopefully you won’t need it, but having it as a back up plan never hurts!


Pet insurance deductibles represent the upfront expenses you agree to cover before an insurance policy starts covering claims. They’re often the highest component of pet policies, and it’s essential that you understand their workings prior to selecting one. Many pet parents choose plans with high annual deductibles in order to reduce monthly premiums, but it is vital that your selection includes one you are comfortable paying in case of emergencies.

Most pet insurance providers utilize a “per incident” deductible system, meaning you will have to meet it each time your pet needs care. For instance, if your dog bites something and needs medical attention at a vet clinic, meeting his $200 deductible before their insurer starts covering expenses will be required before your claim can be covered by their policy. Should he require care for an ear infection, kidney issue and ligament issue within one year he would require three separate deductible payments be met in addition to meeting this yearly threshold.

Your choice of deductible will have an immediate impact on your monthly premium, with higher deductibles typically leading to reduced premiums. But be wary when selecting which type of deductible to select; some policies use different methodologies when determining how much coverage costs. Some insurers require payment of an excess in addition to your flat deductible – something that could become very costly in an emergency vet visit scenario.

Note that most pet insurance plans do not cover preventative healthcare services like vaccines, teeth cleaning and tick and flea treatments; instead these services can often be added on as wellness riders for an additional fee. You could save on costs by declining this coverage and saving yourself the premium dollars that would have otherwise gone towards wellness visits in the long run.

Consideration must also be given to the fact that most pet insurance policies provide only a short window of eligibility after purchase; usually no more than 14 days from when the policy started. This helps prevent owners from waiting until their pet becomes ill or injured before buying insurance for them, which could constitute fraudulence.


Pet insurance can be either worth investing in or not depending on its specifics and what happens when filing a claim. Each company handles claims differently; however, most follow similar steps:

First, complete and submit a form with all requested information, followed by sending in an official invoice from your veterinarian. Depending on your insurer and policy, either reimbursements may be provided as schedule amounts or percentages of vet costs or payment direct by them – either way the money should be used to cover any outstanding balance at your vet.

Before needing to use your policy’s claims process, it is a good idea to familiarise yourself with its workflow so you know what to expect and can better assess which services or coverages apply as well as potential deductibles or annual caps available.

Claiming can send warning signals to insurers, leading them to charge higher premiums upon renewal of your policy. While this doesn’t necessitate foregoing buying coverage altogether if cost concerns arises, it should remind us all of the importance of researching prices to find an insurance plan that fits best with our needs and shopping around for the lowest premium possible.

If you’re thinking about switching pet insurance providers, be aware that any claims made during the life of your existing policy will be considered pre-existing and not covered under your new one. Most insurers have waiting periods which start from when you take out coverage until any illnesses or injuries appear in your pet; until that period has expired you cannot file claims against their policies.

Many pet owners assume the pet insurance industry is taking their hard-earned dollars without providing anything in return. But this perspective is often inaccurate: pet insurance covers many things beyond just vet visits; only when filing a claim can an owner fully understand how things work!