Should you get pet insurance?

Getting pet insurance should depend on the details of your situation, but for many pet parents, the benefits of pet insurance outweigh the costs. Deciding if you need pet insurance comes down to a clear understanding of your options, your particular pet's risks, and your budget.

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What are the benefits of pet insurance?

Pet insurance provides the key benefit of helping you pay your pet's medical bills. In exchange for paying your pet insurance policy's premium, you can be reimbursed for your pet's covered veterinary costs according to the terms of your plan. Having pet insurance can provide peace of mind that you'll be able to get your pet the care they need when they get hurt or sick.

Is pet insurance worth it?

Pet insurance isn't required, but the cost of pet insurance can quickly become worth it when an expensive vet bill comes up. Consider the cost of some common surgical procedures:

Foreign object removal: Cost ranges from $800 to $3,500, depending on the specific procedure required, according to Wag!.
Eye surgery (enucleation): Pets, especially cats, with severe eye damage may need to have their eye removed — a procedure that can cost $600 to $1,000.
CCL (ACL) surgery: CCL (the canine equivalent of an ACL in humans) repairs are a common surgery for active dog breeds and can cost anywhere from $1,200 to $9,500, according to CareCredit.

Learn more about how pet insurance covers surgery costs.

Should I get pet insurance?

When you're deciding if you need pet insurance, consider these factors:

Your pet's age: Your pet insurance premiums will be lower the younger your pet is. Plus, pet insurance doesn't cover pre-existing conditions, so getting pet insurance early in your pet's life before health issues come up can get you the most coverage. Also, be mindful that some insurers don't cover senior pets.
Your pet's breed: When considering if you should get insurance for your pet, learn about the breed, including the common health problems they may face and how expensive treatment may be. For example, purebred pets — especially those bred for a special appearance — can be prone to genetic disorders and health problems. They can also be more prone to problems like hip dysplasia. And according to PetMD, larger breeds tend to have more health problems and lead shorter lives.
Your budget: Vet bills tend to come up unexpectedly, and they can quickly add up to hundreds to thousands of dollars. Unless you have plenty of savings you're prepared to spend on your pet whenever they get injured or sick, pet insurance can provide some much-needed peace of mind.