Buying Pet Insurance

Should you be buying pet insurance? First, you should consider how much a vetrinary visit costs. Vet visits cost between $50 and $5,000, but pet insurance can help cover some of the most common expenses, such as surgeries, cancer treatments, and prescriptions. 

Most pet insurance policies cover accidents and illnesses, including injuries, hospitalization, and final expenses. However, some providers set coverage limits, and you might have difficulty buying pet insurance for older animals or pets with pre-existing conditions.

Pet insurance can cost between $20 and $100 per month, although most policies average around $40 monthly. 

Follow our guide below on how to get pet insurance before you spend too much on a policy. We discuss when to get pet insurance and ways to save money on coverage by comparing providers and picking the right vet.

How do I get pet insurance?

Getting pet insurance is easy when you compare providers online. We recommend asking these top five questions before buying pet insurance to ensure you have everything you need:

• How does the policy work?
• What does the policy cover?
• Does the policy apply to your pet’s breed?
• Can you use any vet?
• How much does the policy cost?

You want to find affordable pet insurance with enough coverage for your furry friend, so consider these questions as we break down the four quick steps to buying pet insurance below.

Compare Providers

It’s popular to buy pet insurance from a car insurance company. Existing policyholders can sometimes qualify for auto insurance discounts when buying pet insurance, but you’ll get the best rates when you compare quotes from multiple companies.

Use our best pet insurance guide to compare companies and get free quotes.

Get Medical Advice

Talk to your vet and research your pet’s breed and medical history, so you don’t buy more coverage than you need. In addition, you may be able to save money on pet insurance by taking preventative care of your animal while they’re still young.

Similarly, your favorite veterinarian may sell pet insurance, which could cater coverage to your pet’s unique needs if they’ve been seeing them for a while.

Decide How Much Coverage You Need

In general, pet insurance covers surgeries, accidents, and illnesses as well as diagnostic tests, cancer treatments, and prescriptions. Some providers will also include hospitalization coverage for up to a certain number of days. 

Adding more coverage will raise your rates, so consider the age and health of your pet. 

Buying insurance while pets are still young will save you money because most policies have age limits and do not cover pre-existing or high-risk conditions. However, your rates will go up if you need pet insurance to cover grooming and training for a younger pet.

Choose a Policy

The most affordable pet insurance policies are accident and illness coverage, but you might want a policy with more coverage. If you need more than the basic coverages discussed above or have a senior pet, read our guide to which pet insurance companies cover pre-existing conditions to get the most out of your policy.

Just remember, pet insurance policies are reimbursement policies, meaning you pay for treatments upfront, and your company will pay you back a percentage of the costs. This is usually only between 70%-80%, and many policy limits max out at $5,000 per year. So consider your budget because you may be able to afford vet bills without insurance.

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Where to Buy Pet Insurance

Some of the top pet insurance providers are Nationwide, Allstate, and Lemonade. Nationwide, in particular, provides exotic pet insurance for reptiles, birds, and other species.

If you have a particular breed, you may also want to consider buying pet insurance from the ASPCA or American Kennel Club (AKC).

Pet insurance rates will vary depending on the coverage you need and the company you choose, so use our free comparison tool below to compare rates from multiple local providers.

When should I buy pet insurance?

Pet insurance is worth it when you have a young, healthy pet. Investing in coverage early will protect the long-term health of your pet and help you pay for any illnesses or injuries that arise during your life together. 

You should also consider buying pet insurance if you do not have enough savings to cover emergencies. 

On the other hand, you may not need pet insurance if:

• You have an older pet or senior pet with health problems.
• You can afford veterinary costs out-of-pocket.

One of the biggest cons of pet insurance is that most companies won’t cover older pets, so confirm that your senior pet isn’t too old for coverage before you start shopping for quotes.

How to Save Money on Pet Insurance

The average monthly cost of pet insurance is between $20-$40, although rates can quickly increase if you have an exotic pet or need specialty or senior coverage. Fortunately, there are ways to save money on pet insurance without sacrificing their health or safety.

Follow the steps below for important pet insurance tips that will save you money.

Insure Your Pet as Soon as Possible

Pet insurance policies are designed for young pets without pre-existing conditions. The younger your pet is when you buy a policy, the lower your pet insurance rates will be. You’ll also get the most out of your policy if you add coverage for annual vaccinations and check-ups throughout your pet’s life. 

Understand Pet Insurance Deductibles

Like most insurance plans, pet policies come with a deductible or coinsurance you must pay before coverage starts.

However, unlike traditional insurance deductibles that renew once a year, some pet insurance deductibles renew with every claim. This means you might have to pay the deductible every time you use the insurance instead of just once annually.

Higher deductibles will lower your insurance rates, but you may want to consider a lower one if you have to pay it after every incident.

Pick the Right Vet

Your pet insurance company might limit you to a list of veterinary offices. If you have a favorite vet, make sure they’re covered by your pet insurance or ask about buying a pet insurance plan through the vet’s office. Many local vets sell their own insurance policies to help customers pay bills. 

Consider Accident and Illness Coverage

Accident and illness coverage comes with the cheapest pet insurance rates but provides the most basic coverage. Fortunately, basic accident and illness pet insurance covers the most common claims, including surgeries, cancer treatments, physical therapy, and more. 

It is the best policy for the price, so shop around for accident and illness quotes first before deciding to add more coverage. It’s likely that this standard plan already covers what you need.

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The Bottom Line — Is buying pet insurance worth it?

Whether you’re wondering how to get pet insurance for a cat, or how to get pet insurance for a dog, buying pet insurance will be worth it if you cannot afford expensive emergency vet bills. Most plans average around $40 per month, and many auto insurance companies sell pet insurance at a discount rate. 

However, pet insurance is not worth it if you have a senior pet. Most pet insurance companies have age limits on coverage, so it’s best to buy a policy while your pet is young.

So before you buy pet insurance, consider your budget, your pet’s age, and the pet insurance companies near you. Nationwide, Allstate, and Lemonade are the most popular providers for buying pet insurance, but you’ll get better rates if you compare with us. Enter your ZIP code below for free insurance quotes.

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