We will do anything for our pets. And if they were to ever get sick or injured, we would spare no expense to give them the best care possible.

That care, however, get very expensive. So while we want to do anything we can to care for our furbabies, it’d be nice if we didn’t have to go into debt if something really bad were to happen to them.

This is why more and more people get pet insurance policies. These policies are basically health insurance for pets that cover vet/animal hospital expenses for illness and accidents.  

Below, learn about how much pet insurance costs, on average. Also see what factors will affect those costs.

Average Monthly Cost of Pet Insurance

Generally you can expect the monthly premiums to cost between $30 and $50. But that cost can vary based on a number of factors.

First is what type of pet you have. It usually costs more for dog insurance than for cat insurance. For dogs, the average monthly premium is around $50. For cats it’s around $30. The reason for this, quite simply, is that medical treatment for cats costs less than treatment for dogs.

There are other factors that affect the cost. Some of them are:

  • Breed (larger and breeds known for health issues will cost more)
  • Location
  • Your Pet’s Age

More Factors That Affect The Cost of Pet Insurance

Besides the factors above, there are a few others that can have a big impact on pet insurance costs. And they are the pet insurance company and the type of plan you get.

Rates can vary greatly from one pet insurance company to the next. However, the cheapest plan may not be the best plan. You have to compare the coverage you get and the costs involved.

For each plan/company you’ll want to look at:

  • How much is your deductible for the plan
  • What is covered and what isn’t
  • If the plan has an annual max of how much they’ll cover (and, if so, how much is it)
  • The reimbursement level

Types of Plans

There are four main types of coverage for a pet insurance plan. Those four are the:

  • Accident and illness coverage
  • Accident-only coverage
  • Comprehensive coverage
  • Pet-wellness care

Accident and illness coverage, as well as accident-only coverage, is pretty self-explanatory. However, you must know that they generally do not cover cancer treatment. 

Comprehensive coverage includes office visits, diagnostic tests, X-rays, and lab fees. Pet wellness care reimburses for preventive care which includes vaccinations. 

Is Pet Insurance Worth It?

If you knew your pets was going to be healthy and avoid accidents or injuries, then it would be cheaper to pay out of pocket for healthcare for your pet. But if you pet does get sick, the expenses can start adding up pretty quickly.

Treatments for the most common health issues (ear infections, upset stomach, etc.) for dogs and cats can be a few hundred dollars. With just a few visits a year to your local vet for these common ailments and you can see how having pet insurance can save you money.

Bottom Line

As pet healthcare costs keep going up, pet insurance can make a lot of sense for many pet owners. At the very least it’s worth some time to get quotes from a few pet insurance companies to see what the costs are for you and your pet’s specific situation.

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