Pet insurance can help control veterinary costs for your dog or cat – Chicago Sun-Times

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It 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.
Maybe you added a furry friend to the family over the holidays. You have plenty of company: 70% of U.S. households have a pet, according to the 2021-2022 American Pet Products Association National Pet Owners Survey.
Pets, though, are a financial commitment. Americans spent $103.6 billion on their pets in 2020 alone, according to the association.
Some expenses, like food and shelter, are predictable. But if your new puppy or kitten gets sick or injured, an unexpected veterinary bill can derail your budget. For a growing number of Americans, pet insurance can provide some financial peace of mind.
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Medical issues are almost inevitable for pets, and those costs are likely to rise, says Kristen Lynch, executive director of the North American Pet Health Insurance Association.
“The fact that there’s continued innovation in the medical care of pets — just like there is for humans — means that the cost of those innovations will continue to go up,” Lynch says.
Dog owners spend an average of $242 on routine visits and $458 on surgical visits each year, according to APPA. The cost for cat owners is slightly lower — $178 for routine visits and $201 for surgical visits.
“I’d say at least half of the clients I come in contact with have money concerns,” Dr. TB Thompson, a Phoenix veterinarian says. “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 typically pays 70% to 90% of veterinary costs after you pay a deductible, which can range from zero 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 different types of pet insurance plans:
The average cost of an accident and illness policy is $594 per year for dogs and $342 for cats, according to the pet health insurers association. For an accident-only policy, you could pay $218 for dogs and $134 for cats.
Premiums are based on factors including:
As a new pet owner, many of these factors are out of your control. But there are a few things you can do to score a lower premium. Among them:
In Lynch’s view, some pet insurance is better than none.
“People avoid taking their pets to the vet because they’re afraid of what those costs will be,” she says. “I like to think pet insurance gives us the ability to say ‘yes’ to those decisions at a time when we’re emotional, stressed and financially strapped about other things.”
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