“I’d say at least half of the clients I come in contact with have money concerns,” Dr. TB Thompson, a Phoenix-based veterinarian at Natural Pets HQ, said in an email. “When pets get into complicated, life-threatening medical trouble, costs add up fast.”
Pet insurance won’t reimburse you for every penny you spend at the vet, but it can help prevent you from being slapped with an expensive bill.
A policy will typically pay 70% to 90% of your costs after you pay a deductible, which can range from $0 to $1,000 or more.
“Consider buying pet insurance unless you can easily fund treating a pet emergency that costs $2,500 and up,” Thompson says.
There are a few types of pet insurance plans. Comprehensive plans, the most robust, help cover the cost of care due to accidents, illnesses and surgeries, as well as vaccinations and diagnostic tests. Accident and illness coverage helps pay for emergency care, surgeries, hospitalizations and prescription medications, while accident-only policies help cover expenses after an accident. Some insurers also offer wellness plans, which take care of certain tests, exams, vaccinations and preventive treatments.