What Is Pet Insurance? Here’s What You Need To Know

what is pet insurance

Pet insurance comes with a monthly plan and is bought by a pet owner to avoid huge medical costs for their pet in the long term. Pet insurance is similar to human health insurance in a way. It’ll either cover medical expenses entirely or a part of it, depending on what the insurance company offers. Keep reading to learn more about what pet insurance can offer you.

How Much Does It Cost?

To avoid unexpected expenses, a pet owner will purchase pet health insurance that comes with a monthly or yearly premium plan. Here are what influences pet insurance overall costs:

  • Breed- different breeds of animals have different genetic issues and injuries. As a result, different breeds also come with different expenses.
  • Gender- a female pet would cost less because males are claimed to have more health-related issues.
  • Age- pet insurance gets just as expensive the older your pet gets.
  • Species- according to a study done, it was claimed that dogs are 60% more expensive than cats for illness and accident policies.

As of 2021, the average monthly cost of pet insurance for dogs is roughly $50 and $29 for cats, which both cover illnesses and accidents.

Monthly plans can vary in costs, they range anywhere from a minimum of $10 per month up to $100. The average a pet owner will pay is usually between $30 to $50.

How Does Pet Insurance Work?

Pet insurance has different types of reimbursements. Some may include paying out of your pocket first, then getting reimbursement after a few days or a week. The more complicated the accident or illness, the longer the reimbursement process might take.

Your reimbursement process will depend on how your pet insurance plan is structured. Here are the main reimbursement parts:

  • Annual Max- a maximum amount your insurance policy claims to cover. Above that, you will personally need to pay out of your pocket.
  • Deductible- the amount you pay before the amount gets reimbursed into your account.
  • Reimbursement percentage- the insurer will pay anywhere from 50% to 100% of the bill. They will state this in the insurance policy.

Are you wondering how to find the right pet insurance? Here are 2 excellent companies from the best pet insurance list of 2021:

  1. PetPremium- gives you a 30-day money-back guarantee, outstanding service reviews.
  2. Healthy Paws- offers top-tier pet insurance plans. Has unlimited payouts and tries to ensure maximum coverage.

Is Pet Insurance Worth It?

It is definitely worth it. Imagine you are in difficult times and need the money you saved when you suddenly find out your pet is injured or needs to undergo surgery. All of that saved money will go to your pet. This will only result in damaging the long-term finances that you have worked really hard to save for years.

Instead of paying thousands of dollars, you can pay a small monthly fee for pet insurance that will save you hundreds to thousands of dollars. It will also remove your daily stress thinking if your pet will have another health issue or not in the future.


We showed you what pet insurance is, if it’s worth it or not, and how it may save your long-term financial situation.

Your pet is a very important family member, and you want to be there for it whenever it needs you most. What better way to do it than getting

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