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I’ve had pet insurance for my dog for 3.5 years, and it has definitely been worth it for me. In the first year, he ate something he shouldn’t have, leading to a $3,000 emergency vet bill, and my insurance covered 80% of that. Then, six months later, he was diagnosed with Addison’s disease, requiring lifelong medication. My insurance continues to cover those medications, and overall, I estimate I’ve saved well over $10,000 thanks to having insurance.
Personally, I decided against pet insurance and instead put $50 a month into a savings account specifically for my dog’s expenses. Over the past few years, I’ve had a few unexpected vet visits, but even with a couple of incidents that cost around $500-$800 each time, my savings have been sufficient. For me, the $600 per year I would have spent on premiums has remained in my account, and I haven’t had a major issue that would have made insurance clearly beneficial.
I have a French Bulldog, and for me, pet insurance is a must. I pay about $60 a month, which is $720 a year, but my breed is prone to health issues. In one year alone, I spent around $3,000 at the vet for various issues, and after my deductible, my insurance reimbursed me about $2,500. Without insurance, I would have had to pay that entire amount out of pocket, so it has definitely saved me money.
I had pet insurance for my previous dog, a senior, and while the peace of mind was nice, I’m not sure it was financially the best decision. Over 10 years, I paid around $50 per month, totaling roughly $6,000 in premiums. He only had a couple of minor issues that were covered, with reimbursements totaling maybe $1,000 after deductibles. Looking back, putting that $6,000 into a savings account would have likely covered those costs and left me with extra.
One of the biggest downsides I’ve experienced with pet insurance is the issue of pre-existing conditions. My current dog had mild allergies before I got insurance. Now, any skin-related issue is considered pre-existing and isn’t covered, even if it seems unrelated to the original allergies. This has meant that even for new flare-ups or infections, I’ve had to pay the full cost, which makes me question the value of the $40 a month I’m paying.
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