Is Pet Insurance Right for You? A Personal Perspective

Animal Chronicles

September 1, 2024

By Brad Snyder

Is Pet Insurance Right for You? A Personal Perspective

September is National Pet Insurance Month, and as pet owners, we all want the best for our four-legged family members. But when unexpected health issues arise, the costs can be overwhelming. That's where pet insurance comes in – but is it worth the investment? Let me share my experience with Hugo, my Labrador retriever, to help you decide.

We adopted Hugo knowing he had a severe heart murmur due to tricuspid valve dysplasia, a congenital heart defect where the tricuspid valve doesn't close properly, allowing blood to leak backward in the heart, which makes the heart work harder. The vets gave him just 18 months, but I'm happy to say he's now a healthy 6½-year-old. While his pre-existing heart condition isn't covered, pet insurance has still proven invaluable for us.

At 1½ years, Hugo needed surgery for an abscess, costing over $6,000. Our insurance (about $600/year) reduced our out-of-pocket expense to $900. This year, a $900 dental treatment was covered.

Over time, we've come out a little ahead with Hugo's insurance, but we've seen more significant savings with our other dogs. Our golden retriever, Gracie, needed $20,000 worth of surgeries before her second birthday for severe orthopedic issues including two full hip replacements.

In addition to two major surgeries earlier in his life, our previous Labrador retriever, Otis, required ongoing treatments for chronic conditions including allergies, arthritis, and myelopathy. Most pet insurance plans cover these chronic conditions, provided they weren't pre-existing when the coverage started. Regular medications, tests, and treatments for these conditions were all covered, significantly reducing our out-of-pocket expenses over the years.

According to the North American Pet Health Insurance Association, the average monthly cost for accident and illness coverage is $56.30 for dogs and $31.94 for cats. "Accident Only" (AO) plans cost about one-third as much. These AO plans typically cover incidents like foreign body ingestion, lacerations, and poisoning, but not illnesses. For both types of plans, premiums typically start low and increase as pets age and become more susceptible to illnesses.

When considering pet insurance, keep these factors in mind:

For us, pet insurance has provided significant savings as well as peace of mind, allowing us to focus on our pets' health rather than the cost of care. However, the decision to invest in pet insurance is personal. Every pet owner should consider how they'll handle unexpected health challenges. Being prepared can make all the difference in ensuring your pet receives the care they need when they need it most.

Brad Snyder is a volunteer at the Animal Protective Foundation and a dedicated pet guardian.

APF welcomes your pet-related questions and stories. Visit animalprotective.org, follow us on social media @AnimalProtectiveFoundation, or email chronicles@animalprotective.org. Together, we can make a difference in the lives of animals in our community.