Pet Insurance - Worth it or not?

Seeking Advice
1

I have two cats and two dogs, and I’ve always just paid out of pocket for their medical expenses. None of them have any preexisting conditions or need medication. The only big issue I had was a $1,500 emergency with one of my dogs.

A coworker recently had a scare with her senior cat, and her vet bill was close to $8,000. Thanks to pet insurance, she only paid about $1,800 out of pocket.

So, I’m curious—what’s everyone’s take on pet insurance? When does it become worth it, or is it better to just set aside money for emergencies?

I realize this depends on your personal financial situation. I’m at a point where I’m not living paycheck to paycheck, but one big emergency could send me back there. My current goal is to build an emergency fund of $10,000.

2

My dog got really sick at 6 years old, and his medical expenses run between $20k and $30k a year. Without insurance, I couldn’t afford it.

The key is to get insurance while your pet is healthy. Once they have symptoms, it’s considered preexisting and won’t be covered.

3

Dallas said:
My dog got really sick at 6 years old, and his medical expenses run between $20k and $30k a year. Without insurance, I couldn’t afford it.

The key is to get insurance while your pet is healthy. Once they have symptoms, it’s considered preexisting and won’t be covered.

Exactly. It’s best to get pet insurance when they’re young and healthy, especially puppies, before they start getting diagnosed with anything.

4

Dallas said:
My dog got really sick at 6 years old, and his medical expenses run between $20k and $30k a year. Without insurance, I couldn’t afford it.

The key is to get insurance while your pet is healthy. Once they have symptoms, it’s considered preexisting and won’t be covered.

[deleted]

5

Dallas said:
My dog got really sick at 6 years old, and his medical expenses run between $20k and $30k a year. Without insurance, I couldn’t afford it.

The key is to get insurance while your pet is healthy. Once they have symptoms, it’s considered preexisting and won’t be covered.

Wow, I thought it was bad when my dog’s Addison’s disease cost me $250+ a month.

6

Keagan said:

Dallas said:
My dog got really sick at 6 years old, and his medical expenses run between $20k and $30k a year. Without insurance, I couldn’t afford it.

The key is to get insurance while your pet is healthy. Once they have symptoms, it’s considered preexisting and won’t be covered.

Wow, I thought it was bad when my dog’s Addison’s disease cost me $250+ a month.

Yeah, my dog has Cushing’s, kidney problems, and polyuria. He’s been hospitalized twice a year for the past three years, and his meds are super expensive. Luckily, I got pet insurance right when I adopted him. I do wish the insurance covered exam fees, though.

7

True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

8

Brigham said:

True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

Exactly. I did the math with my policy, and it didn’t even start covering expenses until I’d spent over $500. Even then, it only covered 80%—and that’s if they didn’t label it a preexisting condition. I ended up canceling it and just saving the money myself.

My dog is almost 4 now, and he’s never needed more than $500/year in vet bills (fingers crossed).

9

Zaid said:

Hollis said:
Brigham said:
True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

Exactly. I did the math with my policy, and it didn’t even start covering expenses until I’d spent over $500. Even then, it only covered 80%—and that’s if they didn’t label it a preexisting condition. I ended up canceling it and just saving the money myself.

My dog is almost 4 now, and he’s never needed more than $500/year in vet bills (fingers crossed).

That works if your pet stays healthy.

You can adjust your policy for lower deductibles and higher reimbursement, but if your pet has issues, it can get expensive. My dog has seasonal allergies costing $80-90 a month, swallowed a rock (which would’ve been $7k), and recently went to the ER for stomach issues (turned out to be terminal spleen/liver cancer, which was another $3k).

You never know when you’ll need it. Hopefully, you won’t end up in a situation like I did. But for me, pet insurance was worth it.

I get how it works. It just wasn’t cost-effective for me.

I’d rather save money in an account and earn interest than gamble on an insurance policy. There’s a reason these companies exist—they make money.

10

Hollis said:

Zaid said:
Hollis said:
Brigham said:
True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

Exactly. I did the math with my policy, and it didn’t even start covering expenses until I’d spent over $500. Even then, it only covered 80%—and that’s if they didn’t label it a preexisting condition. I ended up canceling it and just saving the money myself.

My dog is almost 4 now, and he’s never needed more than $500/year in vet bills (fingers crossed).

That works if your pet stays healthy.

You can adjust your policy for lower deductibles and higher reimbursement, but if your pet has issues, it can get expensive. My dog has seasonal allergies costing $80-90 a month, swallowed a rock (which would’ve been $7k), and recently went to the ER for stomach issues (turned out to be terminal spleen/liver cancer, which was another $3k).

You never know when you’ll need it. Hopefully, you won’t end up in a situation like I did. But for me, pet insurance was worth it.

I get how it works. It just wasn’t cost-effective for me.

I’d rather save money in an account and earn interest than gamble on an insurance policy. There’s a reason these companies exist—they make money.

One option is to create a savings account specifically for pet emergencies. You’re essentially self-insuring. Since you have 4 pets, insurance could get expensive, and likely not all 4 will have a major medical issue.

11

Ash said:

Hollis said:
Zaid said:
Hollis said:
Brigham said:
True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

Exactly. I did the math with my policy, and it didn’t even start covering expenses until I’d spent over $500. Even then, it only covered 80%—and that’s if they didn’t label it a preexisting condition. I ended up canceling it and just saving the money myself.

My dog is almost 4 now, and he’s never needed more than $500/year in vet bills (fingers crossed).

That works if your pet stays healthy.

You can adjust your policy for lower deductibles and higher reimbursement, but if your pet has issues, it can get expensive. My dog has seasonal allergies costing $80-90 a month, swallowed a rock (which would’ve been $7k), and recently went to the ER for stomach issues (turned out to be terminal spleen/liver cancer, which was another $3k).

You never know when you’ll need it. Hopefully, you won’t end up in a situation like I did. But for me, pet insurance was worth it.

I get how it works. It just wasn’t cost-effective for me.

I’d rather save money in an account and earn interest than gamble on an insurance policy. There’s a reason these companies exist—they make money.

One option is to create a savings account specifically for pet emergencies. You’re essentially self-insuring. Since you have 4 pets, insurance could get expensive, and likely not all 4 will have a major medical issue.

I only have one pet, not 4. My dog is 4 years old.

12

Hollis said:

Ash said:
Hollis said:
Zaid said:
Hollis said:
Brigham said:
True said:
[deleted]

You’re talking $1,800 plus all the monthly fees she paid over the years.

Exactly. I did the math with my policy, and it didn’t even start covering expenses until I’d spent over $500. Even then, it only covered 80%—and that’s if they didn’t label it a preexisting condition. I ended up canceling it and just saving the money myself.

My dog is almost 4 now, and he’s never needed more than $500/year in vet bills (fingers crossed).

That works if your pet stays healthy.

You can adjust your policy for lower deductibles and higher reimbursement, but if your pet has issues, it can get expensive. My dog has seasonal allergies costing $80-90 a month, swallowed a rock (which would’ve been $7k), and recently went to the ER for stomach issues (turned out to be terminal spleen/liver cancer, which was another $3k).

You never know when you’ll need it. Hopefully, you won’t end up in a situation like I did. But for me, pet insurance was worth it.

I get how it works. It just wasn’t cost-effective for me.

I’d rather save money in an account and earn interest than gamble on an insurance policy. There’s a reason these companies exist—they make money.

One option is to create a savings account specifically for pet emergencies. You’re essentially self-insuring. Since you have 4 pets, insurance could get expensive, and likely not all 4 will have a major medical issue.

I only have one pet, not 4. My dog is 4 years old.

Oops, my bad. I was referring to the original post, where they have 4 pets.

13

True said:
[deleted]

If you’re the type to spend whatever it takes to save your pet, then pet insurance is a must.

14

True said:
[deleted]

There are many expensive non-fatal conditions, like broken bones, ligament tears, or even things like pneumonia from kennel cough. Some treatable cancers are also super expensive.

Pet insurance can give you peace of mind if you don’t want to choose between draining your savings and letting your pet die over a treatable condition.

15

We have it. My company offers it as a benefit, but I had it before that. I’m more worried about a chronic condition that could require expensive, ongoing treatment like diabetes or cancer.

16

Fitz said:
We have it. My company offers it as a benefit, but I had it before that. I’m more worried about a chronic condition that could require expensive, ongoing treatment like diabetes or cancer.

Diabetes in my cat wasn’t as expensive as I thought, but cancer… diagnosing it cost me around $1,500 alone.

17

Fitz said:
We have it. My company offers it as a benefit, but I had it before that. I’m more worried about a chronic condition that could require expensive, ongoing treatment like diabetes or cancer.

For dogs, just feed them real meat instead of kibble to avoid diabetes. Even in humans, it’s reversible with diet changes.

18

Dexter said:

Fitz said:
We have it. My company offers it as a benefit, but I had it before that. I’m more worried about a chronic condition that could require expensive, ongoing treatment like diabetes or cancer.

For dogs, just feed them real meat instead of kibble to avoid diabetes. Even in humans, it’s reversible with diet changes.

I have cats, and diabetes can be caused by things like treatments for asthma (which is common in cats) or just aging. Cats also live longer than dogs, so it’s more of a concern as they get older.

19

Pet insurance saved my cat’s life. He had a urinary blockage that needed surgery, which cost around $14,000. Healthy Paws reimbursed me about $10,000, and I’ll never go without pet insurance now.

20

How much does pet insurance cost for you?

How did the $1,500 emergency affect you financially?

And how much would you be willing to spend on a pet emergency?