Can Pet Insurance Save You Money?

by Julia Olivas
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Pet ownership costs are climbing, just like everything else. Here is how to determine if pet insurance can save you money on your pet’s healthcare.

Everyone loves their pets and wants the best for them. However, being a pet parent can be expensive. Not only does it come with regular costs, such as vet wellness exams, food, toys, treats, training, comfortable beds, and more. Most pet parents never think twice about how much they spend on their dogs and cats until a major expense comes up, such as surgery.

Many pets have to have surgery or specialized treatments for a variety of reasons, including health conditions and even accidents. Even if your dog is relatively healthy, they can break a tooth on a bone or accidentally swallow a piece of their favorite toy, which may require emergency services and surgery.

Luckily, more pet parents are becoming conscious of ways they can take care of their pets while saving some money at the same time. If humans have health insurance to save money on possible big medical costs, why can’t pets? Well, they can.

Pet insurance can help pet parents pay for major expenses, including surgery and emergency medical care for their pets. Depending on the type of surgery you get, you may even be able to use it to help pay for some of the regular costs associated with after-surgery care, such as telemedicine vet visit checkups. Here are just some ways pet insurance can help you save money.

Pet Insurance Helps You Budget

Many pet parents put money away in savings for major pet expenses, and some don’t put anything into savings at all. However, many vet bills can be way more expensive than you initially think. Even if you are saving a few dollars here and there for your pet, you might have to spend it all on treating a surprising illness.

Pet insurance makes it easier to budget because you’ll know how much you’re paying each month. Your monthly premium will stay the same for the entire year your pet is insured, so you won’t be left wondering how much the vet will charge. Of course, it all depends on your pet insurance plan. Many plans won’t cover routine services, such as dental cleanings or checkups. The more you play, the more services you can pay for using insurance.

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Pet Insurance Prevents Medical Costs

The main goal of pet insurance is to prevent pet parents from going bankrupt or into debt when their pet has a life-threatening illness that requires expensive treatment. Pet insurance can help pet parents detect health problems early on, including signs of serious health problems like cancers and tumors.

For example, pet parents might avoid taking their pet to the vet if they notice a lump on their face; many people may choose to wait and see if the lump grows before seeing a doctor. However, if that lump is a cancerous tumor, waiting too long could put your pet’s health in serious peril. Many pet parents wait too long to take their pets to the vet in the hopes that problems will go away on their own so they can save a few hundred dollars on treating something that may not be a health problem.

It’s true; sometimes pet parents overreact to the smallest problems, and they’re not medical emergencies. However, you should never let money prevent you from taking care of your pet. Pet insurance allows pet parents peace of mind to make wellness exams and checkups more affordable, enabling them to visit the vet as much as they want to ensure the health and wellness of their beloved animal companions.

Pet Insurance Helps Avoid Debt

If you love your pet, you’re willing to do anything for them, including going into debt so you can treat their health problems.

Pet insurance eliminates the fear of choosing your finances over your pet while providing you a way to get affordable care no matter what it is. Instead of taking out a loan to help your dog make it through a difficult time, you’ll be paying a monthly premium, and pet insurance may cover at least some of the treatment costs.

Bundling Pet Insurance

Pet insurance can be bundled with other types of insurance to help you save money on your pet insurance and save a couple of hundred dollars overall. If you have multiple pets, you can save money on their insurance by bundling them into a package.

Additionally, you may be able to bundle your pet insurance with homeowners’ or renters’ insurance if you get insured by the same company, helping you reduce your overall insurance burden.

Saving On Pet Insurance

While pet insurance can help you save money, it costs money every month. However, there are many ways you can save on pet insurance, including

Getting a Higher Deductible

Unlike human health insurance, where you live doesn’t typically affect the price of pet insurance. Many pet insurance providers allow you to choose your deductible, which is the amount you’ll pay out of pocket before the insurance policy will start to cover your costs.

Getting a higher deductible will lower your monthly premium while still allowing you to get some coverage from insurance in case your pet needs expensive medical care.

Pay Annually

Vet care is expensive, and insurance premiums can take a chunk out of your monthly budget, but paying annually might be a way to reduce your total pet insurance costs. If your insurance company offers different payment schedules, you might be able to get a discount by paying for everything upfront. While it might seem like a huge expense up front, it works out to be cheaper than the monthly payments combined.

You can also look for special discounts and offers, such as reducing your deductible for not making a claim within a certain amount of time.

Shop Around

The best way to get the best price on pet insurance is to shop around and get the best value. Always read the fine print to ensure your coverage is enough for your pet, depending on their age and overall health.

Of course, you don’t want to base your decision on the cost alone. The better insurance plans will be more expensive, but they’ll definitely be worth it for peace of mind.

Pet Insurance Saves Money

Now that you understand how pet insurance saves money and how you can save money on pet insurance, it’s time to start shopping around. There are many different pet insurance providers, so always do your research and read reviews before you sign a contract or make a payment.

Reviewed July 2023

From the Author

Julia Olivas graduated from San Francisco State University with her B.A. in Communication Studies. She is a contributing writer at where she loves sharing her passion for digital marketing and content creation. Outside of writing, she loves cooking, reading, making art, and her pup Ruby.

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