Pet insurance is more common than ever before. This is probably because the cost of veterinary care is higher than ever before. Just to have my dog checked after getting hit by a car was over $300!
So, how much does pet insurance cost for a dog for one month? On average, pet insurance for a dog costs $59 per month. Removing the most expensive insurer (Trupanion) brings the average cost down to $55. These costs cover a 7-year-old Labrador with a $500 deductible. Annual reimbursements capped out at $5,000 at 70 to 80% of vet costs.
The conversation with my17-year-old son on the way to the vet was difficult. Lady has been a part ofour family for almost 8 years. Not knowing how bad she was hurt forced us toconsider the worst-case scenario. When the vet came out, her estimate to findout what was wrong was almost $2900. AND THAT WAS JUST TO FIND OUT WHAT WASWRONG!
As more and more peoplehave experiences like this, pet insurance looks more and more appealing. Thereare still a bunch of questions surrounding pet insurance, however. The mostimportant questions being what does pet insurance cost and what does it cover.
Quotesfor Lady’s pet insurance
When I realized thathelping Lady get better might cost me over $5,000, I had to seriously considersomething that caused my stomach to cramp!
What if I could notafford to get her the help she needed?
It was a nightmare of asituation.
Because of it, I startedthinking really hard about pet insurance for Lady. I had no idea about how petinsurance costs or if it is worth the expenses.
To be honest, I have askeptical view of insurances.
So, I started this journey with a negative view; thinking that I would NEVER get pet insurance.
How are Pet Insurance costs calculated
When it comes to insurances, I am always a little confuzzled about how it is calculated. LendEdu.com has put together a great article explaining every step of the process.
If you have any questions about how the final premium is established, click on this link to LendEdu.com
To figure out more aboutthe whole process, I reached out to seven different insurers and asked for aquote for Lady. Let me show you exactly what I learned about pet insurancecosts and how it works.
To find my seven insurance companies, I just did a simple search on the internet and found the top choices from a number of insurance review articles and pet forums.
Most Popular—Embrace Pet Insurance
Embrace Pet Insurance isone of the most popular insurance companies on the internet. There are somethings that make this particular company popular.
For example, yourdeductible reduces by $50 every year that you don’t submit a claim.
Embrace also covers theexam fees (which are excluded from other companies’ plans). This will either gotowards your deductible or get reimbursed according to your chosen plan’srates.
The other thing I likeis that illness is included with the accidents in the base plans.
I asked for anaccident/illness plan with a $500 deductible, a $5,000 per year reimbursablemax, and a reimburse rate of 80%.
My quote from Embrace toensure my 7-year-old female Labrador with these benefits was $55 per month.
If you are interested in your own specific quote from Embrace, click on this link: embracepetinsurance.com
Best Value—Figo Pet Insurance
Figo is consistentlyshowing up in all of the “best of” lists online when it comes to pet insurancecompanies.
When you look into thelist of things Figo covers with their “Essentials” package, you will beimpressed. Everything you expect to be there is included on the list plusthings like holistic and alternative therapies, prosthetic devices, yourco-pay, and deductible are waived for life-saving emergency procedures.
Although I tried to geta package as close as possible to the Embrace package, Figo does not offer lessthan $10,000 annual maximum reimbursement.
Even though the annualmax doubles, the quote from Figo was only $60 a month—just $5 a month more thanEmbrace.
If you are interested inyour own quote from Figo Pet Insurance, click on this link: figopetinsurance.com
Most Economical—PetsBest
The cheapest insurance Ifound was from Pets Best. However, the thing that I found most interesting wastheir Accident-only plan for $9 a month.
The accident plan coversbroken bones, accidental swallowing a Christmas sock (really happened to myGrandpa’s dog), snake bites, and more.
So, if you are lookingfor the cheapest way to protect your dog against the unforeseen accident—likegetting hit by a car—then this is by far the most economical choice that I haveseen.
For the comparison toEmbrace and Figo, I found that Pets Best gave me the best quote for a littlebit less each month.
Still looking at $5,000max, 80% reimburse rate, and a $500 deductible and PetsBest quoted me $52 amonth. I really like the reduction rule with Embrace. But if we are talkingapples to apples and looking for the best deal, then you are probably going togo with Pets Best.
If you would like aquote from PetsBest for your specific pet and situation, click on this link: PetsBest.com
Honorable Mention—Healthy Paws
Healthy Paws Insuranceis based in Bellevue, WA. They have an identical monthly premium as EmbraceInsurance. However, Healthy Paws has one advantage and one disadvantage whenset side-by-side with Embrace.
The advantage is thefact that there is no maximum annual reimburse amount. This is really a bigdeal. It means that if your dog experiences something really serious ortraumatic, you may not be limited in the help you can seek.
The disadvantage, however, is that you only get a 70% discount rate compared to Embrace’s 80% rate.
If you would like a quote from Healthy Paws, click on this link healthypaws.com
Higher End Favorite—Trupanion
Initially, I tookTrupanion out of my consideration of pet insurance companies. Their quote toensure Lady was $87 a month.
I figured I would neverconsider paying $30 a month more for basically the same coverage. But, when Istarted doing the math, I realized that Trupanion’s 90% Reimburse Rate was thehighest in my group of quotes.
If you look at the tablebelow, you will see that if your dog gets cancer and racks up $6,500 in vet andspecialist bills, you will actually come out ahead paying the extra $30 inpremiums every month.
Because you are onlyaccountable for 10% of the bill (after your deductible), you will pay $500 lessin bills.
Even with the highermonthly payments, you will save $140 in that situation.
If your dog requiresmore treatment, your savings increases.
The other benefit ofTrupanion is the fact that they do not have a maximum reimburse limit.
If you are looking for the most comprehensive insurance in the face of serious health challenges and you are willing to pay anything to save your puppy, then consider getting a quote from Trupanion by clicking on this link: Trupanion.com
Howdoes Pet Insurance work?
Like most insurances,the specific coverage varies depending on the breed and age of your dog. Themost expensive breed to ensure is the Great Dane (in accident-only policies).The cheapest breed to ensure is the Cocker Spaniel.
Medical history andtrends of the breed is a major influence in determining the final monthlypremiums.
The coverage you getdepends on what options you select (which also have a huge impact on costs). Ifyou choose an accident only plan, then you are likely to get a cheaper plan.
With the accident onlyplan, you are basically limited to any injury that your dog sustains in anaccident. In other words, cancer or hip dysplasia are not covered.
If you are worried aboutmedical complications caused by genetics or illness, then the accident plan isnot for you. You should consider adding basic coverage to an accident plan.This plan is also called Accident and Illness plans. Your dog is covered againstvet bills associated with accidents and illnesses including cancer, geneticdisorders, and diseases.
The most comprehensiveof the pet policies is called a “wellness” plan. This full-featured plan coverseverything mentioned above plus dental check-ups and cleanings, routine vetcheck-ups, and vaccinations.
Almost every petinsurance company will not cover pre-existing conditions.
Most companies will suggest that you enroll your dog as soon as possible so that you are covered against any health problem that your dog may experience.
Benefits
Pet insurance for yourdog covers a percentage of the bill once your deductible is met. For thepurposes of my research, I just selected $500 deductible for them all with a$5,000 reimbursement cap. The percentage of bills that the plan covers variedbetween 70% and 90%.
If it was possible Ialways chose 80% just to make the quotes as equal as possible.
If your dog gets cancerand needs treatment, this is how it would work.
The cost of cancer treatment varies. According to PetCareRX.com, there are three typical approaches to cancer in a dog.
- Radiation (usually used on tumors that cannot be accessed by surgery) averages about five weeks and ends up somewhere between $5,000 and $7,000.
- Chemotherapy costs $1,000 per round and can take 6 to 10 treatments. So, you are looking at between $6,000 and $10,000.
- Surgery (used to remove accessible tumors) averages between $2,500 and $6,000 depending on the location of the tumor.
How it “pays” out in the event of cancer
Let’s say your dog hasan operable tumor and the final bill is $3,000. How would this all play outwith pet insurance? Most likely, you will make all payments at the vet and thensubmit receipts to your provider and receive reimbursement according to yourcoverage.
Remember, if you onlyhave accident coverage, then you will be paying the full $3,000.
If you added illness toyour package. First, you would meet your deductible. Let’s say that is $500.That makes the remaining balance $2,500.
Assuming that you have apackage that covers 80%, you would receive $2,000.
Of the $3,000, you willhave paid $1,000 and the insurance company covers ⅔ of the cost.
This is likely a goodoption if you are the person that is going to pay the $3,000 to save your dog.
On the other hand, thereare some people that would not want to spend the $1,000 portion. If you are oneof those people that draws a line between pet and member of the family, theninsurance may not be the best choice for you.
Should I go with high or low maximum annual reimbursement? This means, that while you will not run out of help, you will be paying a little more for every dollar spent at the vet or specialist. Check out the graph below explaining the difference between 80% and 70% rates if all other things are the same. The data assumes a $500 deductible. These numbers show what you will pay in addition to that deductible.
How much you will pay as costs go up
| Cost of Vet Bill | 70% Reimburse Rate w/ unlimited max | 80% Reimburse Rate w/ $5,000 max | 80% Reimburse Rate w/ $10,000 max | 90% Reimburse Rate w/ unlimited max |
| $3,000 | $750 | $500 | $500 | $300 |
| $6,000 | $1,650 | $1,100 | $1,100 | $600 |
| $7,000 | $1,950 | $1,500 (includes $200 over $5,000 cap) | $1,300 | $700 |
| $8,000 | $2,250 | $2,500 (includes $1,000 over $5,000 cap) | $1,500 | $800 |
| $9,000 | $2,550 | $3,500 (includes $1,800 over $5,000 cap) | $1,700 | $900 |
You see, that you canend up paying significantly more with the lower reimburse rate. Additionally, Ihope you realized that at $6750 you will tap your $5,000 reimburse max. That isone bout with cancer or another serious injury requiring more than one or twosurgeries.
So, when the vet billhits $6,750 in a calendar year, 100% of every dollar after that is coming fromyour wallet.
At this point, you needto ask yourself if you are planning for catastrophic accidents or healthchallenges?
If the answer is yes,and you are willing to pay anything to extend your dog’s life, then the highermax is something that you have to have.
However, if you are not a person that will spend anything on your dog’s health, then you should probably stick with one of the lower maximum rebates in favor of a smaller premium.
DoesPet Insurance make sense?
The decision to whetheror not pet insurance for your dog makes sense needs one more piece to thepuzzle.
Let’s consider how muchyou will spend each year on premiums. Then you need to decide how likely youare to have an accident requiring help from the insurance company.
This is simple math, but I will put the numbers in a chart so you can compare the costs across the different companies.
Total cost to insure a 7-year-old Labrador with different companies
| Embrace | Figo | Healthy Paws | Trupanion | Pets Best | |
| 1 year | $660 | $720 | $660 | $1,044 | $624 |
| 2 years | $1,320 | $1,440 | $1,320 | $2,088 | $1,248 |
| 3 years | $1,980 | $2,160 | $1,980 | $3,132 | $1,872 |
| 4 years | $2,640 | $2,880 | $2,640 | $4,176 | $2,496 |
The 4-year cost of theinsurance is one side of the equation.
Now, ask yourself howlikely your dog will be to experience an injury that requires the vet.
In our situation, theoverall vet bills associated with my dog’s accident was $560. That wasfrustrating and at the moment I thought pet insurance would have been great.For me, insurance would not have helped me.
After paying the $500deductible, the insurance would have reimbursed me a total of $48.
That happened justbefore Christmas. So, I would have paid for the deductible, only to have itreset a few weeks later.
Whendoes pet insurance make sense?
There are some timeswhen I think you would be wise to get insurance.
For example, it would beworth it to get insurance as your dog gets older and is more likely to get sickor have genetic problems with hips or elbows or eyesight or …. Well, youget the idea.
The question is when isthe perfect time. And, unfortunately, I can’t answer that question.
Another time that itwould make sense to get a pet insurance policy is if you lived in a place wherethere was a high probability that your dog will experience a serious accident.If you live near a busy road and your dog has the potential to get on the roadand hit by a car.
When Lady got hit, wewere almost 200 yards or more from the road and I thought there was no way thatit was even a remote possibility.
Consider any otherfactors that would increase the likelihood that you will end up in a vet’soffice for something serious or even something not so serious but regular likeallergies.
You will want to rememberthat pre-existing conditions are not covered by pet insurances. So, if you waituntil your dog has a problem, you will be on your own.
Another thing toconsider is the general health of the breed.
Labradors, for example,have a higher disposition towards hip dysplasia than other breeds. So, if youthink your dog has a higher possibility of developing one of these issues, Iwould consider a pet insurance policy and make sure that it includes at leastthe illness variety of coverage. If you want to stay on top of your dog’shealth, then look into a wellness package that will take care of all of yourcheck-ups as well as vaccinations and other general health preventativemeasures.
The most important thingI can suggest if you have questions about pet insurance is to reach out to oneof the providers. They will be able to tell you about their own companypolicies and practices.
One thing you might wantto ask is how quickly they send out reimbursements. I think it is a good ideato ask for a list of procedures that are covered by each plan. Every providershould be able to give you a very detailed list.
There are otherquestions that you will think up as you are considering the pros and cons topet insurance and whether or not the cost is worth it to you in your situation.
FAQs
Is dog insurance worth having? ›
It can be an especially worthwhile pet insurance for owners with a healthy pet breed that aren't expecting to have to cover any chronic or hereditary conditions. It will cover most immediate injuries and illnesses and the cover is usually enough to help with vet bills until your pet is mostly recovered.
How much dog costs a month? ›It is important to feed your dog a high-quality dog food and healthy dog treats. This typically costs somewhere from $20 to $60 per month ($250 to $700 per year). Food expenses vary based on the size and energy level of your dog as well as the quality of the food.
Who has the cheapest pet insurance? ›| Rank | Insurer | Monthly dog cost |
|---|---|---|
| 1 | Embrace | $25.25 |
| 2 | Figo ($10,000 annual max) | $31.13 |
| 3 | Nationwide ($250 deductible, unlimited max) | $33.08 |
| 4 | PetFirst | $34.95 |
The average cost of dog insurance is around £34.47 a month*, however the cost of pet insurance to cover a dog can greatly vary in cost. This is mostly due to different dog breeds having very different health needs.
Should you get pet insurance before going to the vet? ›I recommend getting pet insurance BEFORE ever bringing the pet in for an exam. In my experience, owners with pet insurance are able to make decisions based on expected prognosis rather than cost when they know that some or all of the veterinary care is covered.
How long can you leave a dog alone? ›As a general rule, your dog should never be left alone for more than four hours at a time. However, this will greatly depend on your dog, their age, breed and how they cope with being on their own in the house. Some may struggle being away from their owners for this long and others will be unphased.
How much should I budget for a dog? ›Recurring expenses can add up quickly and can average anywhere between $480 and $3,470 per year. The most prevalent costs are food, vet visits, preventative health treatments (flea, tick and heartworm) and grooming. Additionally, most states require that you renew your dog's registration annually.
At what age is pet insurance the Cheapest? ›Our analysis found that the best prices were after a pet's first birthday until around age six. As your pet gets older, pet insurance costs can increase when you renew the policy.
How long do you have to have pet insurance before you can use it? ›Most pet insurance providers have no waiting period for covering preventive care. Accident coverage usually kicks in faster than illness coverage. Most pet insurance plans provide both accident and illness coverage in about 14 days (although some plans can take as long as 30 days).
What is the annual limit for pet insurance? ›The maximum annual limit for most pet insurance providers is $10,000, but a few will insure your pet up to $20,000. If you decide to get pet insurance, experts recommend getting it when your pet is young and healthy, because most policies exclude pre-existing conditions.
Is PetPlan expensive? ›
PetPlan aren't cheap. In fact, they're among the most expensive pet insurers. How much you'll pay depends on; Your pets breeds.
How can I reduce pet insurance costs? ›- Check if your pet is entitled to free treatment.
- Checking you have the level of cover to suit your pet's needs.
- Consider policies with a percentage of co-pay towards claims.
- Keeping your pet healthy.
- Considering spaying or neutering your pet.
- Animal Friends pet insurance review.
- ManyPets pet insurance review.
- Direct Line pet insurance review.
- Petplan pet insurance review.
- The Insurance Emporium pet insurance review.
- Waggel pet insurance review.
- Check whether your pet is eligible. Puppies and kittens often must be a minimum of 6 to 10 weeks old to be insured, depending on the company. ...
- Decide how much coverage you want. ...
- Understand reimbursements and deductibles. ...
- Look for exclusions and waiting periods.
By and large, California is home to the most pet owners with pet insurance (19.2%), followed by New York (8.7%), Florida (5.8%), New Jersey (5.5%), and Texas (4.8%), which account for 45% of all pet insurance policies issued in the U.S.
Can I get pet insurance after diagnosis? ›Can you get pet insurance after a diagnosis? Yes, you can still get pet insurance to cover future injuries and/or illnesses, depending on your pet insurance coverage type. The policy simply wouldn't cover any pre-existing conditions, diagnosed or not.
Are vaccinations included in pet insurance? ›Does pet insurance cover vaccinations? Vaccinations are not covered by pet insurance. Neither is spaying or neutering. But, having all your animal's vaccinations up to date could mean lower insurance premiums.
Does pet insurance cover general vet visits? ›What vet bills am I covered for? When you take out a pet insurance policy, you'll get some level of cover for vet fees and medical treatment as standard. But while you'll be able to claim for emergencies and unexpected illnesses, routine pet healthcare usually won't be covered.
Does pet insurance require an exam? ›Many pet insurance companies require a thorough physical exam of your pet, or require all of your pet's veterinary medical records to be submitted for review before approving a medical insurance policy for your pet to be issued.
What is the point of pet insurance? ›Pet insurance is meant to protect owners from paying exorbitant medical bills when their pet gets injured or falls ill. While convenient for your peace of mind, pet-care policies can also cost hundreds or even thousands of dollars a year.
Is it worth having pet insurance for older dogs? ›
While insurance for an older dog may be pricier than a younger pet, it may be cheaper than any unexpected vet bills, prescription or ongoing treatment. It is always a good idea to be prepared, so ask your vet what type of conditions your breed tends to get when they reach an older age.
Can you write off vet bills on taxes? ›Veterinary bills, pet insurance, food, supplies, training, grooming, boarding, and transportation costs are all examples of pet expenses you can write off on taxes. However, you can only claim pets on taxes if they meet certain criteria, such as contributing to income or serving a medical need.
What is the best UK pet insurance? ›- Petplan is the UK's No.1 pet insurer.
- Petplan insure over 1.3 million pets.
- Award winning pet insurance.
- Petplan covers things others don't.
- 98% of Covered for Life® claims paid.
- You won't pay more for claiming.
- Petplan have over 40 years experience helping to keep pets healthy.
They do cover prescription drugs as long as a licensed vet has prescribed them for a covered medical illness or injury and not part of a pre-existing condition.
How Much Is pet insurance a year? ›According to Moneysmart, pet owners typically spend between $20 to $60 a month on pet insurance – or $240 to $720 every year.
How much does a dog cost annually? ›The Cost of Dog Parenthood: Annual Essentials
After covering the initial expenses to make your home pup-ready, keep the on-going, annual costs in mind. Our research shows that the average dog parent may spend anywhere from $480-$3,470 per year on their dog—that averages to $40-$290 per month.
This is known as co-insurance and it's a common clause on pet insurance policies once your cat or dog reaches a certain age. That's typically around eight years old for dogs and 10 for cats.
Is PetPlan expensive? ›PetPlan aren't cheap. In fact, they're among the most expensive pet insurers. How much you'll pay depends on; Your pets breeds.
What is pet lifetime insurance? ›Lifetime pet insurance cover
Lifetime covers your pet year after year, for your pet's lifetime, as long as you don't cancel your policy or let it lapse at renewal. As many insurers don't cover pre-existing conditions for new policies, many people choose to keep their Lifetime cover rolling.
Can I Claim My Dog As a Dependent? No, pets aren't dependents and the IRS considers their care costs as personal expenses. You may claim income your pet earns on your taxes, and you can also receive tax deductions for care of working animals, including: Guard animals.
How do I claim my dog on my taxes? ›
Tax-Deductible Expenses for Service Animals
You will need proof in the form of a doctor's prescription indicating that the pet is a medical necessity before you can claim the deduction. You must possess documentation that supports the fact that your pet is certified or trained as treatment for the specific illness.
Unfortunately, deducting medical expenses for pets is not allowed as a medical expense on your tax return. The only exception would be if your pet is a certified service animal, like a guide dog.
Are pet health plans worth it UK? ›If you take advantage of all the benefits of a Pet Health Plan, they can work out very good value and save you money. In comparison to if you were paying individually for vaccinations and veterinary licensed flea and worming treatments. Or having regular visits for nail clips and anal gland expressions.
Is petplan ultimate worth it? ›Petplan has a rating of 'Excellent' on Trustpilot with a score of 4.7 out of 5.0 stars from over 10,000 reviews. 85% of customers rated it as 'Excellent' citing a friendly and professional service and no problems when it comes to paying out claims.
What should I look for in dog insurance? ›These can include (but are not limited to): the type of policy; age of your pet; your pet's health; claims or treatment history; where you live; purchase price; the breed of your pet; and if it is male or female. Claims costs and the amount vets charge for treatment can also impact premiums.