Prepare for the Total Health of Your Pet with Pet Insurance

Try as we may to provide our pets with the best of everything—from food and treats to exercise, annual veterinary checkups, mental stimulation and, of course, affection—our pets are living beings and, as such, get sick. Injuries and illness are often unpredictable events, and when they occur it helps to be able to focus on our pet’s well-being instead of how we’re going to pay the veterinary bills. The benefits of signing up for a pet health insurance plan can be many. Here’s what to know.

Pet insurance helps pet parents prepare for unforeseen circumstances

We can’t predict when an injury or illness will happen, but advances in veterinary medicine allow us to feel more prepared about eventual changes in our pet’s health. These advances include tests and treatments that, while far more available now than ever before, are expensive. Case in point: It was projected that pet parents in the United States spent about $18.62 billion on veterinary care in 2018—up from $17.07 billion in 2017. That makes it the second-largest spending category after pet food, surpassing supplies and over-the-counter medications.

Luckily pet insurance can help alleviate the stress of a big vet bill by reimbursing pet parents for covered care services. It essentially works as a silent partner that helps cover the financial risks if your pet gets ill or injured. That way you have help focusing on the care of your pet rather than the costs of the care.

Pet insurance doesn’t have to cost a lot

Pet healthcare costs can be quite expensive. A cranial cruciate ligament (CCL) tear, for example, can run dog parents upwards of $5,524*, while intestinal foreign object removal can cost cat parents almost $4,000**. Although pet insurance prices vary by carrier, there are affordable options —and it’s worth it—for many pet parents, especially when you consider that part of what you’re paying for is peace of mind.

The monthly cost of an insurance plan varies depending on the age and breed of your pet and your zip code, but there are flexible options to fit most budgets. Your premium will also be lower or higher depending on the specific coverage you choose, your reimbursement amount, annual coverage limit, and deductible.

As a gauge, the North American Pet Health Insurance Association has shared the average annual premiums and deductibles for the approximately 2.5 million U.S. pets covered by pet insurance in 2019.

Pet insurance has advantages, no matter your pet’s age

Whether you’ve just brought home your new puppy or your pet is a long-term, senior family member, pet insurance has advantages. Since it’s impossible to predict exactly what you’ll need for a health event that hasn’t happened yet, setting aside the right amount of money each month for veterinary care can be difficult to do accurately. Plus you could wipe out all that savings on a single incident or illness. With pet insurance, however, you can continue submitting claims until you reach your annual limit.

Pet insurance covers both common and unexpected pet health problems

If your particular breed of cat or dog is at a higher risk for certain illnesses, you can choose a pet insurance plan to cover that condition while also preparing for the unexpected trouble our furred friends can get into. Petco Insurance plans provide coverage options for accidents, illnesses such as cancer and diabetes and hereditary conditions such as hip dysplasia and cherry eye. Behavioral conditions, dental disease, alternative therapies and more are also covered. Remember that individual companies and plans will differ, so be sure to do your research so you know exactly what’s covered.

As veterinary care gets increasingly expensive, it’s important for pet parents to consider a holistic approach to their pet’s care. This includes figuring out how to pay the vet bills when the unexpected happens. Pet insurance helps give you the ability to choose the care you want for your pets, without worrying too much about the price tag.

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*Internal claim data from C&F Insurance Agency, Inc. CCL Tear (Dog) $5,524.20

**Internal claim data from C&F Insurance Agency, Inc. Intestinal Foreign Object (Cat) $3,910.08

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