Affordable Vet Care With a Pet Insurance Policy

As the name implies, this policy will offer specific coverage for accidents and illnesses. It's the most popular type of pet insurance. Some insurers call it comprehensive pet insurance. 

Accident and illness insurance covers the costs of emergency vet visits (these can cost anywhere from $200 up to $2,000 for an overnight stay).

Wellness plans for pets represent an add-on to cover the costs of routine vet care services that the typical pet insurance policy won't cover, such as:

• Pet vaccinations
• Pet dental cleanings
• Regular checkups for pets
• Basic preventative care for pets

This insurance does not cover illnesses, but it will cover a wide range of accidents. For example, if your pet chokes on something, your accident-only insurance will cover treatment.

What if your pet develops an illness as a result of the accident? The policy won't cover it. So, referring back to the choking example, if your pet develops a respiratory condition as a result of the incident, accident-only insurance won't cover those additional treatment costs.

Some pets are more expensive to insure than others. For example, NAPHIA reports the average cost for accident and illness insurance at $53.34 monthly for dogs and $32.25 monthly for cats. Certain breeds are also more expensive to insure, like French bulldogs, because they tend to have more health issues than other dog breeds.

Understandably, older pets are more likely to deal with illness or injury, and they're more expensive to insure. You should also keep in mind that it's common practice for pet insurance premiums to increase every year.

Each state has its own regulations regarding human and pet insurance, so prices can vary depending on where you live. If you live in an area with more expensive vets, your insurance premiums will also be higher.

• Surgical operations
• Certain prescription medications
• Pet emergency care visits
• Pet cancer treatment
• MRI, CT scans, X-rays, and other diagnostic tools
• Illnesses
• Hospitalization
• Urine and blood testing

Besides keeping your pets healthy, the aim of coverage is to help you find economical pet care.

However, bear in mind that pet insurance won’t cover grooming, nutritional supplements, or experimental treatments. Like human insurance coverage, it also doesn't include any pre-existing conditions your pet has at the time you take out their policy.

Do you want your policy to cover routine visits? Enroll in a wellness care plan. Otherwise, you'll have to pay out of pocket for routine checkups and vaccinations.

No matter how healthy your pet is, vet costs quickly add up. Every six seconds in the U.S., a pet owner leaves their veterinary appointment with a bill for $1,000 or greater. That figure will put a significant strain on your finances if you weren't expecting it.

With pet insurance, you can have peace of mind knowing that if your vet visit turns into something more than a routine checkup, you can afford it. Your pet can receive the care they need to live their best life with you.

When an accident happens that requires you to take your pet to an emergency vet, you have enough to worry about. Whether you have accident-only coverage or full accident and illness insurance, your policy will help cover the costs of the emergency service your pet needs, even if it’s in the thousands.

Suppose you have pet insurance for your dog and pay an average of $53.34 per month in premiums ($640.08 each year). Your policy has a $500 deductible and a 10% coinsurance (you pay 10% of the bill). After two years of having insurance coverage, your dog swallows a foreign object and needs emergency care, which, on average, costs $3,262. 

With the example above, a pet insurance policy will mean that you only pay about $826 for this veterinary service. If you factor in the cost of the pet insurance premiums you've already paid over the last two years, this total cost would be approximately $2,106 (still $1,156 less than the initial vet bill!).

According to the American Society for the Prevention of Cruelty to Animals, dog owners spend a minimum of $410 for annual preventative care, while cat owners spend at least $300. These costs only include basic preventative services and medicines, not emergency trips or any non-routine vet visits. If vet costs continue rising, can you afford to spend that on your pet’s health each year?

If not, consider a wellness plan policy, where your insurance will cover the costs of routine visits, vaccinations, and other services that help keep your pet healthy. Since wellness plans are add-on options, they're a great way to round out your pooch or kitty’s coverage.