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How Much Pet Insurance Do I Need?

3 Mins read

Do you require pet insurance? Here is how much pet insurance you might need.

Most folks who love their pets will go to any extent to ensure they remain healthy and happy. On the surface it may seem like your healthy pet does not need pet insurance, however, the unfortunate truth is that pets get sick every now and then, and subsequent visits to the veterinarian’s office can cost you hundreds if not thousands of dollars in medical bills.

The cost of keeping a pet can shoot up considerably if your furry friend is diagnosed with an ailment or an illness. This can not only harm your mental health but can also be a significant burden on your wallet.

According to recent research conducted by the American Veterinary Medical Foundation, pet medical costs will continue to be on the rise as treatment options become more technologically advanced.

Do I need Pet Insurance?

One way to counter the phenomenon of high veterinarian office bills is to invest in a pet insurance policy. 

Pet insurance is just like health insurance for humans! It covers the medical cost for your pet in case of illnesses and accidents, in exchange for a monthly premium. With pet insurance, you typically pay a monthly amount for an assured level of coverage along with a deductible if you need to file for a claim.

Pet insurance might not have been common in the past but it is soon gaining popularity in recent times and for good reason! 

Pet owners claim that they want to protect their pet’s health without having to worry about the affordability aspect if they happen to get sick. That makes investing in pet insurance a pretty smart move if you ask us!

How much does Pet Insurance cost?

Pet insurance costs depend on a wide variety of factors and circumstances. Some factors that may influence the price of your Pet Insurance premiums are:

Pre-existing Medical Conditions– This is the most important aspect that impacts Pet Insurance policies. If your pet suffers from a pre-existing medical condition or has had surgeries in the past, then that disqualifies you from investing in a Pet Insurance policy, since insurance companies do not cover pre-existing medical conditions.

Age– It’s best to buy a Pet Insurance policy for your furry friend while he or she is still young and healthy! This way you wouldn’t have to worry about pre-existing medical conditions. However, even if your pet is older but still healthy, you can buy a pet insurance policy, albeit at a higher cost.

Size and Breed– You can expect to pay higher premiums for certain breeds, and animals that are larger in size, as these factors do have an impact on pet insurance costs.

Coverage Exclusions & Limits- It is important to note that not all pet insurance policies have unlimited coverage. Some companies cap their coverage at $5,000-10,000. Another factor to note stems from the fact that while insurance companies don’t cover pre-existing medical conditions, there is a separate list of conditions that are also not covered. It is up to you to do your due diligence when it comes to buying a policy that best fits the needs of your pet.

How much Pet Insurance do I need?

Average pet insurance costs in America range from about $25 to $70 for dogs and $10 to $40 for cats. For a plan with decent coverage, you can expect to pay between $30 and 50$ a month.

If you need higher coverage based on the factors mentioned above like your pets being older or larger, then you may have to shell out a higher premium amount from your pocket.

Be also prepared to pay a higher premium if you need more coverage, or if you decide to decrease the deductible or increase your reimbursement level


If you’re still unsure about whether pet insurance is right for you, then you need to ask yourself if you deserve the peace of mind that comes with knowing that you’ll be able to cover your pet’s medical costs in the unfortunate event that he or she gets sick.

Data derived from PetFirst holders suggests that the most common dog treatments cost $252.75 on average, while the most common cat treatments cost $266.79. Serious afflictions like cancer may be rare but the bills can be exorbitant, with chemotherapy costing north of $5,000!

Investing in pet insurance might be a smart move, but we advise you understand all the details regarding what is covered and what isn’t, in the policy before making a final purchase decision.

Also Read: How to Save Money on Pet Insurance

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