Top Tips for Picking the Right Pet Insurance Plan for Your Pet

In my last blog, I shared the story of losing our first Great Dane, Maggie, to bone cancer. One thing that helped give me peace of mind while going through Maggie’s cancer treatment was having pet insurance. Her amputation cost about $4,500, insurance covered $2,500. It covered all her follow-up vet visits, it covered her emergency vet visit after she coughed blog, it covered her chest x-ray confirming my worst fears, it covered putting her to sleep, and it covered her cremation. 

I’ve heard many people say pet insurance is a scam, it doesn’t work, and it doesn’t cover anything but that is not the case in my experience so I figured I’d put a guide together on how to research it and how to find the best policy for your pet. 

Why should you get pet insurance? 

No matter how well you care for your pet, there will come a time when they need to see the vet. Maybe they ate something they shouldn’t have, like a pair of underwear—or, in one case I heard about, a needle and thread. Maybe they have diarrhea, are vomiting, won’t eat, or something else entirely. The truth is, every pet will need a vet visit at some point—and probably more than once.

A good pet insurance policy can ease the financial stress of those inevitable vet visits, where you know you’ll likely spend at least $100—or much more.

What should you look for in a policy? 

How does the deductible work? 

You’ll need to read the policy and understand how the deductible works. I found in my research some insurance policies had a deductible per diagnosis and some per year. You’re going to want the one per year. 

What is the max out-of-pocket amount? 

Check the policy to see what amount they will cover up to. This can range from say $2,500 to unlimited. 

What is the reimbursement percentage? 

Typical ranges are 70%, 80%, 90%. 

What type of plan should you get? 

Pet insurance usually comes with different levels of coverage. For both of my Great Danes, I chose a middle-tier plan. This means routine vet visits, like vaccinations, and spaying and neutering, aren’t covered—only illnesses and injuries are. .

When should you buy the policy?

As soon as you get your pet - especially if you get a puppy or kitten - this will keep your monthly premium low - at least it has with both policies I’ve purchased. The longer you wait, and the older your pet gets, the more expensive it will get and could become cost-prohibitive.

What should I expect as a monthly premium? 

For Reno, I pay $72/month for the Major Medical Plan from Nationwide Pet Insurance, with a $250 annual deductible. When I had Maggie, I had the same plan. 

Do your homework: read the fine print, check what’s covered, and more importantly - so that you are fully aware - what’s not covered. Call the insurance company and ask questions. For example, if you have a Labrador, ask if they cover surgeries for removing foreign objects your dog might swallow—they might not. If you have a dachshund, find out if back issues are included.

Know exactly what you’re buying so you feel confident you’re getting your money’s worth. The right policy can give you peace of mind and help ease the financial burden of those inevitable (and often expensive) vet visits. But having the wrong policy or not understanding the coverage can leave you feeling frustrated or like you’ve been swindled. 

In my experience, pet insurance has been worth every single penny even with Reno. She had a respiratory illness in October 2023 that required an urgent care visit, including sedation, x-rays, and expensive antibiotics. My bill was $980, but my insurance covered $940 and reimbursed me within days. Now, we are dealing with incontinence and her insurance has covered the testing and her chronic medication. 

Do yourself and your pet a favor, get them coverage. Fortunately, there are a lot of companies out there providing pet insurance so there are many options. Check out a recent Forbes Advisor article from a few days ago on this very topic.