An average visit to the vet ranges between $50 and $400 but if your pet faces more serious health issues, the bill can be much higher. It’s not that different than dealing with more serious health problems of your own.
For us humans, a good health insurance plan can minimize out-of-pocket expenses in those situations. And while many people don’t realize it, pet insurance can do the same.
How much does that insurance cost? Let’s look at the average cost of pet insurance.
Why Pay for Pet Insurance?
Many pet owners wonder is pet insurance worth it? It seems like an added monthly cost on top of everything else you already spend on your pet.
While you might not have to pay for vet costs very often, a single visit can cost far more than what you would pay for insurance. It’s a way of hedging your bets against those high costs of healthcare for your pet.
Typical Costs of Vet Treatment
According to Petplan, the average cost of those unexpected visits to the vet is between $800 and $1500. But serious injuries or illnesses can run as much as $4000.
Not only is that expensive, but it also means you need to have the money available to pay for it. If you have an insurance policy for your pet, it may cover most or all of that expense for a much more affordable monthly cost.
What Affects the Average Cost of Pet Insurance?
Several factors affect the cost of an insurance policy for your pet. The things that have the biggest impact include:
- Type of pet
- Where you live
Cats and dogs are the most common pets covered by these policies. Insurance for dogs averages 60 percent more than similar policies for cats.
As far as the breed is concerned, insurance typically costs more for larger breeds since those pets tend to have more health problems.
The same thing applies to your pet’s age. Older animals are more likely to have health issues so the insurance is going to cost more.
And where you live can impact both the cost of healthcare and the chance of injury or illness for your pet. Some locations will have higher premiums than others.
What Kinds of Things Are Covered
There are two main choices for the type of insurance coverage you can get:
- Accident and illness coverage
- Accident only coverage
It’s easier to protect your pet from accidents than illness so accident-only policies will cost less.
The average monthly cost of accident-only coverage is $10.51 for cats and $16.17 for dogs compared to $29.16 and $48.78 for accident and illness coverage.
Insurance Protects Your Pet and Your Pocketbook
When considering whether the average cost of pet insurance is worth the money, it helps to think of it from two perspectives. It helps protect your pet’s health but it also helps protect your pocketbook from expensive treatments. Consider both when making your decision.
Be sure to browse through the Pets category on our blog for more helpful articles.