How much pet insurance do I need?

Pet insurance offers owners a unique opportunity to protect both their beloved pet and their bank account.

For a small fee each month (cheaper if paid on an annual basis) owners can take comfort in knowing that their dog or cat has medical care and, in an emergency, they have economic support to get by.

But pet insurance doesn’t work like health insurance for humans. Therefore, the question of how much coverage owners should have for their pets is subjective.

If you think it would be beneficial to insure your pet, start today by getting a free quote.

How much pet insurance do I need?

Here are three considerations to take into account when trying to determine the right amount of pet insurance to buy.

Your pet’s age

If your furry friend is young and healthy, you can probably get by with minimal coverage. An accident only policy will not break the bank but will still provide protection in an emergency. This will only cover your pets for emergencies like broken bones or if they swallow something they shouldn’t have. But if you’re looking to cut costs and stay insured, it can do both.

Just be sure to read the fine print. What is considered covered by an accident insurance policy with one insurer may not be covered by another and vice versa. And remember: Pet insurance often doesn’t cover pre-existing conditions, so it pays to act early before lingering problems arise.

Speak to a Pet Insurance Professional Now who can help you build a plan that meets your needs.

Your pet’s breed

Regardless of their age, some pet breeds are simply healthier than others. If you have a pet prone to persistent health issues, you’re probably safer with a more robust plan.

For example, some dog breeds have known health issues. A German Shepherd is more likely to need medical intervention for hip dysplasia than most other breeds. English Bulldogs, Frenchies, and many other “flat-faced” dogs are susceptible to brachycephalic airway obstruction syndrome (BAOS).

If you know up front what health issues your pet is likely to have, you can sign up for a plan to help cut costs ahead of time before they become a financial burden.

Your type of animal

There’s a reason cats are generally cheaper to insure than dogs. This is because they tend to live longer and have fewer health problems. Dogs generally have a shorter lifespan and more ailments over their lifetime.

So if you have a dog (and especially if you have one of the breeds mentioned above), you’ll likely need far more pet insurance protection than if you had a cat.

“Dogs cost more to insure than cats, in part because of data showing they need care more often than cats, and it’s more expensive when it’s needed,” said one. Money.com report claimed recently. You should purchase your pet insurance accordingly.

The bottom line

Pet insurance is often an inexpensive but valuable form of protection. On average, it costs $30 to $70 per month for a dog and $15 to $40 per month for a cat. But how much you spend really depends on what you need based on the three elements above.

Speak with a pet insurance expert today that can help you establish a profitable and reliable plan for your animal.