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Is Pet Health Insurance Worth It?

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Is Pet Health Insurance Worth It for Your Dog or Cat?

Nearly 5.36 million pets were insured in North America by the end of 2022, which shows that pet insurance is worth it for many pet parents.* They can enjoy the comfort of knowing they have financial support when their furry family member needs medical care.

Why Pet Parents Purchase Pet Insurance

There are lots of reasons pet parents choose to cover their pets, which can be emotional or practical in nature. In one research study, pet parents with pet insurance said they felt it:**

  • is helpful to them (59%)
  • shows they love their pet (55%)
  • shows they are a responsible pet owner (53%)
  • provides peace of mind (49%)
  • is a good investment (48%)
  • helps avoid the need to make painful choices about withholding care (42%)

Pet Insurance as a Financial Partner

Pet insurance creates a partner who shares the financial risks if your pet gets ill or injured. This is different than being an investment vehicle. Like other insurance products, such as home or auto insurance, it's not intended to add money to your savings.

For instance, you wouldn't expect to cash in through the purchase of a home insurance plan. But if your house floods, it can help you pay to repair the damage. Pet insurance works the same way. It's not going to pay you dividends, but it can reduce the financial strain when your pet needs medical care.

After going through two major medical problems with our cat, ASPCA [Pet Health Insurance] has been tremendous in helping us mitigate those costs. Completely and absolutely worth it. - Jennifer E.

Pet Insurance Versus Savings

Pet insurance has advantages over setting aside money to pay for your pet's care. For instance, it's impossible to predict how much you might need for future veterinary expenses. Plus, you could empty your savings after just one incident. With pet insurance, there's no limit to the number of claims you can submit up to your annual limit.

Rising Costs of Veterinary Care

Veterinary care has been getting increasingly expensive over the years, especially as more advanced diagnostic tests and treatments are available for animals. In fact, pet parents in the US will spend an estimated $18.62 billion on veterinary care in 2018—up from $17.07 billion in 2017.+ These rising costs are another reason pet insurance is worth it for many pet parents. It gives them the ability to choose the care they want for the pets without worrying about the price.

grey Scottish fold cat on couch

Pet Insurance Plan Perks

The ASPCA Pet Health Insurance program offers a number of plan perks including:

  • Broad coverage: You can cover your pet for accidents, illnesses, hereditary conditions (like hip dysplasia and cherry eye), behavioral conditions, alternative therapies, and more.
  • Ability to visit any veterinarian: You're free to visit any veterinarian, specialist, or emergency clinic. You never have to wonder if your coverage will be accepted or not.
  • Easy claim filing: It's simple to file a claim online or through the MyPetInsurance app. You can also file claims by email, fax, or mail.
  • Direct deposit of reimbursements: You can have payouts deposited directly into your bank account instead of waiting for a check in the mail.

You can also enjoy excellent customer service with friendly representatives who love helping pet parents and hearing about their pets.

The process was quick and easy to submit my claim. Thank you for helping keep my pup healthy! - Jacquelynn King

Ways to Save on Pet Insurance

There are several ways to customize your coverage and lower the cost of an ASPCA Pet Health Insurance plan. Just keep in mind it's important to balance coverage with cost. An inexpensive plan that doesn't cover your pet's needs won't do you much good.

Choose a Lower Annual Limit

Your annual limit is the most you can be reimbursed during a policy year. The ASPCA Pet Health Insurance program offers options from $5,000 to unlimited. If you pick a lower amount, you won't have as much of a financial cushion, but you’ll pay less for your premium.

Select a Higher Annual Deductible

An annual deductible is the amount you need to meet each policy year before you start getting reimbursed. Many ASPCA Pet Health Insurance customers choose a $100 annual deductible so they can get more cash back. If you can select the $250 or $500 option, your premium will be lower.

Pick a Lower Reimbursement Percentage

This is the percentage of covered costs you will get paid after you meet your annual deductible. ASPCA Pet Health Insurance customers can choose a 70, 80, or 90% reimbursement percentage. If you choose the lower options, you'll be responsible for a larger portion of your veterinary bills, but your premium will be less expensive.

Consider an Accident-Only Plan

An accident-only plan covers exam fees along with the costs of diagnostic tests, treatments, and medications needed for injuries. Your pet won't be covered for illnesses, but you'll pay a lower premium. This may be a good choice if you have a limited budget and still want some coverage for your pet.

Very helpful. The plans are reasonable, affordable, and have saved me thousands in vet costs for my 2 dogs. - Aracely Valadez

How Payouts Work

With the ASPCA Pet Health Insurance program, you take your pet to the veterinarian, pay your bill as usual, and then submit a claim. Once your claim is received, your payout will be calculated by determining your covered veterinary expenses, subtracting your annual deductible (if it hasn't been met yet), and applying your reimbursement percentage.

Here's an example:

Covered Vet Bill


Annual Deductible


Reimbursement %




As you can see from these numbers, pet insurance can be a big help when your pet is hurt or sick. It can alleviate financial strain during what is often a stressful time.

fluffy puppy with black collar

Get Started with a Free Quote

If you're considering pet insurance, the best way to get started is with a free quote. You'll be asked for your ZIP code along with your pet's breed, age (an estimate is OK), and gender. It only takes a moment, and there are no strings attached.

Once you get your quote, you can explore different ways to customize your plan to best fit your coverage and budget needs. Your quote will be saved, so you can return and enroll online anytime. Get your free quote now.

*North American Pet Health Insurance Association (NAPHIA) State of the Industry Report, 2023

**Driving Growth of Pet Health Insurance, NAPHIA, 2016

+The 2018 North American Pet Health Insurance Industry Report, NAPHIA, 2018 The information presented in this article is for educational and informational purposes only and does not constitute or substitute for the advice of your veterinarian.


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