Pet Insurance Cost

Pet insurance sounds like a great thing. You get coverage for vet bills for your pet, so it doesn’t take a huge chunk of change out of your pocketbook. Of course, these things cost money, so you have to determine if you can afford to pay for pet insurance. Even if you can, you want to do the research so that you can make sure it is actually worth it to get pet insurance and if you would benefit from having it. Here’s some information about pet insurance cost.Most pet insurance companies charge a monthly fee. Depending on your company and plan, the cost for pet insurance can vary greatly. You may be able to find a plan for as low as $8 a month. However, keep in mind that a plan like this would most likely just include accidents and injuries, and maybe some illnesses. It wouldn’t cover any preexisting conditions or hereditary issues, routine vet care, or anything else. Most likely it would also have a maximum payout, so that if your pet’s vet service was more than a certain amount you would have to pay the rest on your own. If that’s not the case the company might pay just a percentage of the vet visit, and odds are that the percentage would be lower than other companies or plans, say around 70%.

On the other hand, you can find plans that charge more per month but you get a lot more. The maximum price you might expect to pay for cat or dog insurance would probably be around $50 a month, though this can vary based on a number of factors, including where you live. It will depend on the company, but you can expect a plan that costs more per month to include much more than a lower priced plan. For instance, it may include not only accident, injury, and illness protection, but also routine check ups, vaccinations, and any tests that need to be done. Most likely it will also cover hereditary or preexisting conditions. Some companies even offer bonuses with their most expensive plan, such as paying for kennel boarding fees if you go on vacation or even giving you a certain amount of cat or dog food per month.

Keep in mind that to some extent, you get what you pay for. If you opt for a cheaper plan, you get less coverage. You will be paying less per month, but if your pet were to have a major surgery or accident happen, you would probably still have to pay for a good portion of that with your own money. If you have a more extensive plan you are paying more per month but when you get hit with a large vet bill all or most of it will be covered by your insurance company.

To determine whether or not the cost of pet insurance is worth it, look at what you get with the plan you are considering. Make up a pretend budget of how much you would pay without the pet insurance. Factor in annual vet visits, vaccinations, and at least one major accident or illness. Then compare that to how much you are paying the company per month and how much you are saving. Seeing the numbers may help you to determine whether or not it’s worth it.