Is Pet Insurance Worth It In 2021?

Is Pet Insurance Worth It In 2021?
Is Pet Insurance Worth It In 2021?

Those who do have pets and receive bills from their vets know it isn’t a good feeling. Even though your pet is in better shape, your wallet is out of form.

You may be constantly hearing about pet insurance and may as well be wondering if it’s worth it or not; yes it is worth it.

In this post being shared here, we would look at how factually pet insurance is worth it as well as anything surrounding it.

You would also find out where to get an affordable one at the end of the day.

What Is Pet Insurance?:

Pet insurance in short is health insurance for your pet. It functions just like health insurance for human beings. They have similar features as stated below:

Monthly Premiums:

This is the monthly premiums or amount you pay for your pet’s policy, On average, the monthly premium for a pet insurance policy ranges between $30 to $50 each month.  Your pet’s policy will stay in good shape as long as you continue paying for the premiums.


The term deductibles refer to the amounts you are responsible for before the insurance firm you have subscribed with would start assisting with the payments of your pet’s health insurance bills at the vet’s office.

The deductibles should be paid on yearly basis and it comes in several options of $50, $100, $200, $250, $500, or $1,000.

This deductible works just like health insurance. In fact, the lower deductible you have, the higher the monthly premium you pay, and the higher the deductible, the lower the monthly premium will be.


Just as the health insurance for humans, the pet’s co-payment works in a similar manner. There may be specific co-payments for visiting a vet or for a good visit that must be paid before the insurance company will cover any additional expenses.

Co-Insurance or Reimbursements:

In the pet health insurance scheme, they use the word ‘Reimbursements’ in place of ‘Co-insurance when talking about how the insurance firm would pay for your pet’s health care.

Reimbursements come in options like 90%, 80%, 70%, and 60%.

The manner in which it works is that the insurance company will be in charge of the reimbursement option that you go for and then, you will be accountable for the difference in it.

For example:

If you have 80% reimbursement, have already paid your annual deductible, and your pet has a foreign object in their intestine, and the bill comes out to $1,967.

You would only pay 20% of the bill which would be $393.40, the rest would be covered by the insurance company.


You may have to make an up-front payment of a bill for your pet’s health when you visit the vet and file for a claim with the insurance company you are dealing with. They will then work on reimbursing the amount you spent.

This varies based on the insurance company you are dealing with.

Most insurance companies however are set up closer to where vets are and pay them directly. You are in this case responsible for your percent of reimbursement or co-insurance.

What Exactly Do Pet Insurance Cover?

I know by now you are still wondering if you should go for pet insurance or not. Well, do because it would definitely be worth it.

Take a look at the list of things pet insurance cover:

  • Accidents
  • Cancer
  • Prescription Medications
  • Chronic Conditions
  • X-Rays
  • Hospitalization
  • Emergency Care
  • Hereditary Conditions
  • Surgery
  • Congenital Conditions
  • Diagnostic Treatment
  • Blood Tests
  • Alternative Treatment
  • Ultrasounds

Read Also: Life Insurance Medical Exams: What to Expect

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Written by Gustavo Franko

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