Pet insurance costs – Pet Hoken http://pethoken.info/ Sun, 10 Oct 2021 06:04:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://pethoken.info/wp-content/uploads/2021/10/icon-2021-10-10T092258.815-120x120.png Pet insurance costs – Pet Hoken http://pethoken.info/ 32 32 What Pet Insurance Costs | Money https://pethoken.info/what-pet-insurance-costs-money/ https://pethoken.info/what-pet-insurance-costs-money/#respond Sun, 10 Oct 2021 06:04:21 +0000 https://pethoken.info/?p=14 Your heart may want it all when it comes to insuring your dog or cat, but your head may balk at what that costs. Shopping smartly for pet insurance means understanding the factors that affect its price, and adjusting the ones you can control to get a policy you can live with, both financially and […]]]>

Your heart may want it all when it comes to insuring your dog or cat, but your head may balk at what that costs. Shopping smartly for pet insurance means understanding the factors that affect its price, and adjusting the ones you can control to get a policy you can live with, both financially and emotionally.

The first price factor is your pet’s species. Dogs cost more — some 60% more, on average — to insure than cats, in part due to data that shows dogs more often require care than cats, and it’s more expensive when it’s needed. According to a 2019 survey by the North American Pet Health Insurance Association (NAPHIA), Americans spent an average of $48.78 per month ($585.40 a year) insuring their dogs, and $29.16 per month ($349.93 a year) insuring their cats, based on premiums for accident & illness (“comprehensive”) plans.

Within each species, premiums vary significantly according to the financial risks you’re willing to take, the company you pick, and the animal’s breed, age, and location. Prices also vary, of course, by the scope of coverage you choose.

As an example of how those factors can combine to yield differing premiums, consider the cost of buying identical coverage for five-year old dogs of two different breeds. The English Bulldog would cost $180 to $240 more a year to insure than the Golden Retriever.

This guide explains how and why such disparities exist, so you can better understand the costs of pet insurance and the decisions you can take to tailor it to your priorities and budget.

Paying For Pet Insurance

Pet insurance is similar in many ways to human health insurance, with deductibles and reimbursement rates that can vary widely. Deductibles are the amount of money you’ll have to pay before your insurer begins to disburse payments — with pet insurance, this initial cost can range from $200 to as much as $1,000.

Even once you’ve paid down that deductible, your insurance won’t cover 100% of your expenses, but rather either 70%, 80%, or 90%. Those are known as reimbursement rates (or reimbursement percentages), and you can select which of the three or four amounts you want.

But another number also comes into the play. Your animal’s policy will have a cap on the amount of coverage provided in any given year; you choose one of several limits between $5,000 and $30,000. If you cap your insurance at $5,000 annually, and vet bills surpass that amount, the insurer won’t cover any more expenses until the next year.

Finally, know that, unlike many human insurance plans, pet insurance companies don’t cover costs upfront, but rather reimburse you at your policy’s rate after you pay the bill in full. This process can take 1-2 business days if you choose a direct deposit option, or 1-2 weeks if you choose to receive a check by mail.

The biggest cost factor: the scope of coverage

Unsurprisingly, the wider the range of medical issues you want covered for your pet, the higher your premiums. How many perils you insure against will affect your premiums more than any other choices you make about your policy.

Policies that cover both accident and Illness — also known as “comprehensive plans” — are the most popular type. They cover your pet for everything from toxin ingestion, cuts and lacerations, and encounters with cars to illnesses such as allergies, asthma, cancer, hospitalization, and even cancer. Here, again, are the national average costs for these plans:

Source: North American Pet Health Association.

If your budget is limited, you can save about two thirds on pet insurance by buying an accident-only plan. Here are the corresponding national-average premiums for accident coverage alone:

Premiums, accident-only policies chart. Dog, $16.17 monthly, $194.09 annually. Cat, $10.51 monthly, $126.08 annually.

Source: North American Pet Health Association.

In short, then, you can save nearly $400 a year on average on insuring a dog and more than $200 on insuring a cat by choosing an accident-only plan rather than a comprehensive one that also includes illness coverage. While accident-only policies are an inexpensive option, they of course only cover accidents. That coverage may be of limited utility if your pet rarely if ever ventures outside, say, or isn’t prone to self-induced accidents such as eating things they shouldn’t.

Even a “comprehensive” accident-and-illness plan isn’t truly comprehensive, in that it will not cover some medical expenses. Most notably, routine and preventative care, such as vaccinations, tick and flea treatments and the like, are not included and generally require adding wellness coverage at extra cost. Some wellness plans charge a flat fee, while others calculate premiums by using your pet’s breed and/or your zip code.

Here are prices, based on the average of premiums from five insurers, on a representative dog and cat in Lake City, Florida (where you live affects premiums, as we note further down in the story):

Premiums, wellness policies chart. Labrador retriever dog, $14.39 monthly, $172.68 annually. British shorthair cat, $13 monthly, $156 annually.

Source: North American Pet Health Association.

Pet insurance companies differ in their policy provisions, of course. So while some companies offer wellness plans as a separate policy, others, most offer it as an add-on to their comprehensive policy. Also, though wellness-only plans typically don’t include dental cleaning as standard (this is usually part of illness coverage), some insurers do so: the American Kennel Club, for example, offers dental treatment as part of their DefenderPlus plan.

The bottom line: the greater the scope of coverage, the costlier the policy. This chart summarizes what you could pay, depending on whether you buy accident-only, accident and illness, or accident and illness plus wellness coverage. As it shows, you can easily save more than $200, on average, in premiums by foregoing wellness coverage.

Accident-only costs chart. Dog $16 monthly, $192 annually. Cat, $9 monthly, $108 annually. Accident and illness costs. Dog, $41 monthly, $492 annually. Cat, $20 monthly, $240 annually. Accident and illness plus wellness cost. Dog, $60 monthly, $720 annually. Cat $39 monthly, $468 annually.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium for a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for a policy with an 80% reimbursement level and $500 deductible. Annual limits are $5,000 for the accident and illness components, and the lowest limit (most often $250) for wellness coverage. FIGO and Nationwide did not offer accident-only policies, so that average is based only on the other three insurers.

What else affects premiums

Beyond whether you own a dog or a cat, and how many components of coverage are in your policy — accidents and illness, accident-only, or wellness as an add-on — five other key factors affect how much you will pay for pet insurance.

Here are the five, in rough order of how much they influence your costs, with some specifics on the size of their impact on premiums:

The deductible you choose

After the plan you choose, the deductible you select is the biggest factor that influences premium costs, our research revealed. As the table below illustrates, you’ll pay at least $200 more a year on average by opting for a deductible of $200 for your pet policy rather than one of $500. With a higher deductible still, the savings more than double; a policy with a $1,000 deductible costs $450 less per year than one with a $200 deductible.

Savings versus choosing a $200 deductible chart. $200 deductible, monthly premium $69.53, $0 monthly difference, $0 annual difference. $500 deductible, monthly premium $51.50, $18.03 monthly savings, $216.36 annual savings. $1,000 deductible, monthly premium $31.76, $37.77 monthly savings, $453.24 annual savings.

Amounts shown are average premiums from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for an accident and illness policy with an 80% reimbursement level, $500 deductible, and a $5,000 annual limit.

The annual limit on expenses

The total annual expenses the policy will reimburse also affect the cost of your premiums, albeit by less than the deductible you choose. If your bills exceed the limit during the anniversary year for your coverage — that is, the 12-month period since you began or renewed the policy — no further expenses will be covered until the year ends. We’ve compared the average premium at 80% reimbursement for three different annual limits — from typical ($5,000) to high ($10,000) to extremely high ($30,000).

Cost difference vs. $5,000 annual limit chart. $5,000 annual limit, $38.30 average monthly premium. $0 monthly, $0 annually. $10,000 annual limit, $43.67 average monthly premium. Plus $5.37 monthly, plus $64.44 annually. $30,000 annual limit, $49.42 average monthly premium. Plus $11.12 monthly, plus $133.44 annually.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for an accident and illness policy with an annual limit of $5,000 and a $500 deductible.

The proportion of expenses that are reimbursed

Adjusting the percentage of expenses the policy reimburses (up to the annual limit) can also reduce the cost of your premiums; unsurprisingly, the higher the proportion of reimbursement, the higher the premium you will pay. The table below — based on a $500 deductible for a dog’s comprehensive plan with a $5,000 a year treatment limit — underlines how much less you can pay, and what you can save. It reveals that premiums drop by more than $100 a year if you choose to have only 70% of costs reimbursed, rather than the maximum reimbursement of 90%.

Savings versus 90% reimbursement chart. 90% reimbursement percentage, $42.57 monthly premium. $0 monthly savings, $0 annual savings. 80% reimbursement percentage, $38.30 monthly premium. $4.26 monthly savings, $51.12 annual savings. 70% reimbursement percentage, $34.05 monthly premium. $8.50 monthly savings, $102.24 annual savings.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for an accident and illness policy with a annual limit of $5,000 and a $500 deductible.

Where you live

If you’ve ever requested a pet insurance quote, you may have noticed they asked for your zip code. This is because insurance companies consider your location when they determine premium costs.

A big factor is the relative cost of vet care across the country. According to 2016 claims data released by PetPlan, California pet parents pay an average of $1,500 a year in vet costs — but pets in North Dakota average a little less than $800. Rates may also vary within states, say between urban areas with higher costs or rural ones where rates might be lower. To find out average premium costs near you, 365 Pet Insurance has a helpful breakdown, with data for five cities per state.

The effect of different areas on accident risk also affects premiums for accident coverage. Urban dogs and cats have a higher probability of being in an accident — such as being hit by a car — than their rural counterparts. To mitigate these higher risks, insurance companies charge higher premiums.

Your pet’s breed

Aside from the disparity in premiums between dogs and cats, there are cost differences according to the specific breed of either species that you are insuring.

Breed makes a considerable difference in cost, since many are prone to hereditary diseases. English bulldogs, for example, are typically born with demodectic mange, which cost an average of $350 to treat, while Golden and Labrador Retrievers are more prone to suffering from elbow dysplasia, where surgery averages at $1,500-$4,000, per elbow, for young dogs.

To evaluate the differences in cost between cat and dog breeds, we requested a quote from each company using five of the most popular dog and cat breeds in the US, and then we calculated the average premium for each breed. Surprisingly, the differences between the least and most expensive was less than $3 a month for cats — but almost $14 in the case of dogs.

Average premiums, accident and illness policy for dogs chart. Golden retriever $43.07 monthly, $516.84 annually. Labrador retriever $44.38 monthly, $532.56 annually. German shepherd $44.83 monthly, $537.96 annually. English bulldog $55.56 monthly, $666.72 annually. French bulldog, $56.63 monthly, $679.56 annually.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old dog of the indicated breed for an accident and illness policy with an annual limit of $5,000 and a $500 deductible.

Average premiums, accident and illness policy for cats chart. Exotic shorthair $18.08 monthly, $216.96 annually. British shorthair $19.65 monthly, $235.80 annually. Ragdoll $20.19 monthly, $242.28 annually. Persian $20.28 monthly, $243.36 annually. Maine coon $21.15 monthly, $253.80 annually.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old cat of the indicated breed for an accident and illness policy with an annual limit of $5,000 and a $500 deductible.

The age of the animal

The cost to insure your dog or cat will consistently increase as the animal gets older. Some, though not all, insurance companies limit plan options as your pet ages, and may even reject insuring your pet if it’s more than 15 years old.

The good news from our price data is that premiums barely budged at all for three-year-old pets compared with one-year-olds. However, the prices then climb steadily with age, reflecting the greater likelihood of an older pet getting sick compared with a younger one.

For both dogs and cats, premiums jumped by about 25% between the ages of three and five and about 50% between five and eight years old. With dogs, there was another leap of 50% or so between eight and ten, perhaps reflecting the higher cost of treatment compared with cats, the premiums for which jumped by about a third between ages eight and ten.

Premium cost by age chart. Dogs, 1 year old, $36.83, 3 years old, $38.68, 5 years old, $48.19, 8 years old, $71.43, 10 years old, $119.46. Cats, 1 year old, $19.51, 3 years old, $20.22, 5 years old, $24.17, 8 years old, $36, 10 years old, $50.40.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for an accident and illness policy with an annual limit of $5,000 and a $500 deductible.

The insurer you choose

As with most other insurance types you buy, premiums to insure your pet range widely by insurance company. When we surveyed the cost of comprehensive (accident and illness) policies from five leading companies (see chart below), premiums for comparable coverage varied by more than 100% — that is, some insurers charged double the rates of others.

Those price differences could add up to more than $150 extra a year to insure a cat and upwards of $350 a year for a dog. However, keep in mind that the coverage you buy may also vary — and more than with some other policy types, such as automotive insurance, whose provisions are fairly explicit and consistent. As our pet insurance coverage report details, some insurers include dental coverage or behavioral therapy — to cite just two items — in their comprehensive plans and others don’t. It pays to explore coverage details for insurers you’re considering, beginning with the sample policies that most companies post on their websites.

For what it’s worth, of the insurers we surveyed, Embrace consistently had the cheapest plans for both cats and dogs, and Pet Premium the most expensive; FIGO, Nationwide, and Pets Best fell in the middle range for prices. However, these were quotes for a three-year mixed-breed pets in a Florida community, and from only five companies. The company that offers the lowest prices for you may differ.

Dog monthly premiums insurance cost chart. High $64.35, low $32.54, monthly difference $31.81, annual difference $381.72. Cat monthly premiums insurance cost chart. High $28.37, Low $14.44, monthly difference $13.93, annual difference $167.16.

Amounts shown are average premiums, rounded to the nearest dollar, from Embrace, FIGO, Nationwide, Pets Best, and Pet Premium reflecting both a three-year-old medium size, mixed-breed dog and a domestic shorthair cat for an accident and illness policy with an annual limit of $5,000 and a $500 deductible.

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Your choices and your costs

You can’t easily change some of the factors that affect what you pay for pet insurance — it’s unlikely you’ll switch your pet or the place you live anytime soon, for example. What you can do is consider the price factors that are within your control, and select a policy that best balances them, given your finances and priorities.

Among those choices, the size of deductible you opt for will most affect your policy’s cost — by hundreds of dollars a year, according to our price survey. Consider choosing the highest deductible you could afford to pay out of pocket were your pet to become seriously ill, whether from a medical condition or an accident.

Then weigh the lesser price factor of the percentage of reimbursement you will receive. The difference between being having 70%, 80%, or 90% of your medical bills reimbursed for the year won’t dramatically affect your annual premiums — the maximum impact was only $100 a so in our survey — but could add up to four figures in co-pays in the (statistically unlikely) event your pet suffers a serious ongoing condition, such as cancer.

Which brings us to the maximum annual limit for your policy, a final factor that determines its coverage and premiums. The impact of going to the highest typical level ($30,000) rather than the lowest ($5,000) could well be relatively modest — no more than $10 or so a month in our price survey.

Consider, though, if you could afford — or simply be comfortable paying — a copay of between 10% and 30% on a total bill that could run to four or five figures. (Parvovirus treatment, for example, can cost up to $2,000, while chemotherapy can run to $25,000 or more.) If the answer to that question is no, there may be little point to paying any extra to cover the cost of procedures. That’s because you may decline them for your pet because of the cost of your co-pay or because you judge the pet may be too old or suffer too much to endure procedures such as chemotherapy or multiple surgeries to repair injuries from a car accident. These realities only underline how pet insurance decisions can be not only financial but deeply personal.

Finally, consider whether to purchase add-on coverage for wellness procedures, which typically cover routine care, which is not covered by the typical comprehensive pet insurance plan. While the additional cost of such plans can be modest — typically far less than the premium for the comprehensive plan — so is the return, which for most pets will amount to only a few hundred dollars per year. You may be better off foregoing this coverage, and reserving your premium dollars for the accident and illness coverage that is the main reason most pet owners opt to insure their animals.

More from Money

What Pet Insurance Can Cover, From Aggression Therapy to Arthritis

10 Best Pet Insurance Companies of 2020

Pet Insurance Covered $25,000 of My Vet Bills: Here’s My Takeaway for Beginners


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How Pet Insurance Costs More Than Auto Insurance – Which One? New https://pethoken.info/how-pet-insurance-costs-more-than-auto-insurance-which-one-new/ https://pethoken.info/how-pet-insurance-costs-more-than-auto-insurance-which-one-new/#respond Thu, 21 Feb 2019 08:00:00 +0000 https://pethoken.info/how-pet-insurance-costs-more-than-auto-insurance-which-one-new/ Insuring your pet could be more expensive than insuring your car, according to AA figures. So, is purchasing pet coverage worth the cost? Most people will seriously think about the cost of a car, but overlook the long-term cost of owning a pet. A new report from the AA highlights just how much more expensive […]]]>

Insuring your pet could be more expensive than insuring your car, according to AA figures. So, is purchasing pet coverage worth the cost?

Most people will seriously think about the cost of a car, but overlook the long-term cost of owning a pet. A new report from the AA highlights just how much more expensive pet insurance premiums can compare to auto insurance.

Read on to find out if you would have to pay more to protect your Rhodesian Ridgeback than your hatchback.

How does dog insurance compare to their “similar” four-wheeled counterparts?

To demonstrate the sometimes large price differential between car and dog insurance, the AA compared premiums for dogs and vehicles with “similar characteristics”. For example, a Great Dane (a big German dog) is compared to a BMW X5 (a big German car).

The graph below shows the annual AA price for all three dogs, with the most expensive insurance premiums and cars that look like them.

The example represents the costs of AA coverage for a one year old neutered male dog versus a car owned by a 38 year old male with a bonus.

It should be borne in mind that purebred dogs tend to be more expensive to insure: dogs without pedigrees will generally have cheaper coverage, and cats even cheaper.

How does pet and auto insurance compare in general?

Even looking beyond the rarer breeds of dogs, pet insurance can still get surprisingly expensive.

To make an ‘average’ comparison, we compared the premiums on the most common dog breed and car model in the UK.

According to Statista, there were more Labrador Retrievers registered in the UK than any other breed in 2017, and the Ford Fiesta was the best-selling car of 2018.

Based on generating a quote from the AA, insuring a Labrador would cost £ 691 per year, while insuring a Fiesta would cost £ 216.

There are, of course, other insurance providers to choose from, so it’s worth shopping around to make sure you’re getting the best deal possible.

If you are one? member, you can discover the best and worst pet insurance companies, based on how their clients rate them and our expert analysis – for more, check out our guide.

Pet Insurance: What Are Your Options?

While you’re unlikely to buy a pet on the basis of insurance costs alone, the comparison highlights just how much of a financial commitment owning a responsible pet is.

Some pet operations can cost thousands of pounds. A double hip replacement on a dog, for example, could cost you around £ 7,000. This is where pet insurance can be a financial lifeline.

Most insurance policies will cover the following:

  • treatment of accidents, illnesses and injuries
  • death by accident or illness
  • Travelling abroad
  • kennel and cattery fees
  • euthanasia, cremation and burial
  • dental work.

Pre-existing conditions, such as chronic health conditions or previous injuries, are normally excluded from new insurance coverage, as are routine treatments such as vaccinations, sterilization and deworming.

An alternative is to self-insure by setting aside money for veterinary emergencies. If you and your pet are lucky, it could be cheaper, but there are a lot more risks. Serious illness or injury could quickly overwhelm your savings.

Another alternative is the help of charities for animals. This is generally means tested and is more likely to be available if you have low income or are retired.

Finding the best pet insurance

If your furry friend is in need of treatment, pet insurance may be more cost effective than paying for the operations yourself. But it all depends on the policy you have and the state of health of your pet before and during the period of coverage.

You might pay less for a lower level of coverage, but it may not be enough to deal with your pet’s medical emergencies. In general, which one? recommends the following levels of coverage:

  • purebred dog – at least £ 7,000 annual coverage
  • dog without pedigree – annual coverage of at least £ 4,000
  • cats – at least £ 3,000 annual coverage

It pays to buy your insurance policy when your pet is healthy, as insuring an unhealthy pet can be much more expensive. You can also save costs by taking good care of your pet.

Here are some general tips to help you lower your pet insurance costs:

  • keep abreast of jabs
  • microchip your pet
  • pay annually (if you can afford it).

With dozens of policies to choose from, it can be difficult to decide which provider to choose. Our dog insurance reviews and cat insurance reviews make that choice easier.

We have measured the satisfaction of thousands of policyholders and created scores for each policy based on a number of important factors.


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Average Pet Insurance Costs Revealed – Which One? New https://pethoken.info/average-pet-insurance-costs-revealed-which-one-new/ https://pethoken.info/average-pet-insurance-costs-revealed-which-one-new/#respond Fri, 30 Mar 2018 07:00:00 +0000 https://pethoken.info/average-pet-insurance-costs-revealed-which-one-new/ One in five pet owners have had a problem with soaring insurance premiums – with dog and cat lovers being charged up to £ 2,000 to protect their precious pets, which one? investigation found. Based on a survey of over 1,300 Which? members, the average price for a lifetime annual policy has reached £ 472 […]]]>

One in five pet owners have had a problem with soaring insurance premiums – with dog and cat lovers being charged up to £ 2,000 to protect their precious pets, which one? investigation found.

Based on a survey of over 1,300 Which? members, the average price for a lifetime annual policy has reached £ 472 for a dog and £ 285 for a cat.

Six in 10 policyholders (60%) have seen an increase since their last renewal – on average, £ 123 for dogs and £ 57 for cats. One in three (32%) people with dog or cat insurance have used the policy and made at least one claim in the past year.

A version of this story first appeared in Which? Money review. For full access, join Which? today.

How much does pet insurance cost?

Our survey found that the average amount pet owners pay for dogs aged 7-10 is £ 526. This is a marked increase from 2014 when the cost was just £ 456.

The breed of cat or dog you own can make a significant difference in the cost of insurance. We averaged the five cheapest lifetime policy quotes for eight dog breeds and seven cat breeds on a comparison site using a Cambridge postcode.

French Bulldogs (£ 358) were the most expensive of the eight popular dog breeds we compared, costing hundreds of pounds more to cover than a Jack Russell Terrier (£ 133). When it came to cats, a Maine Coon (£ 114) was the most expensive, followed by the Bengal tiger (£ 105) and domestic long-haired cats (£ 86).

Dogs Average premium
French bulldog £ 358.49
Golden retriever £ 186.99
Labrador retriever £ 182.12
rooster £ 141.49
Cocker £ 140.54
Cross £ 139.08
Border collie £ 133.87
Jack Russell Terrier £ 132.75
Cats Average premium
Maine coon £ 114.44
Bengal tiger £ 105.44
Long haired domestic cat £ 85.64
British Shorthair £ 85.09
Tiger £ 85.09
Domestic short haired cat £ 81.94
Cross £ 81.00

In the survey, animal lovers in the East of England paid the highest average premium to insure a single dog on a lifetime policy (£ 565), followed by:

  • East Midlands – £ 535
  • South East England – £ 517
  • London – £ 493
  • South West England – £ 470
  • North West England – £ 427
  • West Midlands – £ 424

Harry Rose, which one? Money Editor, said, “While the increase in premiums has left a lot of people under pressure, there are things you can do to help keep the cost of insuring your pets under control.

“The sooner you are covered, the better. Not only will the premiums be cheaper, but a younger animal will have fewer pre-existing conditions, resulting in fewer exclusions and more choice between policies. ‘

Finding the best pet insurance

Getting the right coverage for your furry friend can be a minefield: there are a variety of policies out there, offering varying levels of coverage and with a range of exclusions.

So which one? is here to help. On this site you can read:

Who? members can log in to view our expert reviews on pet insurance. If you are not a member, join Which? to access our analysis.


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Understanding the cost of pet insurance https://pethoken.info/understanding-the-cost-of-pet-insurance/ https://pethoken.info/understanding-the-cost-of-pet-insurance/#respond Tue, 23 Jan 2018 08:00:00 +0000 https://pethoken.info/understanding-the-cost-of-pet-insurance/ In the first of our two-part pet insurance series, we discussed a general overview of pet insurance terms, what to expect and what not to expect. of available fonts. Now let’s move on to the actual costs, as well as examples of two common incidents that would require emergency pet care. Financial data site ValuePenguin […]]]>

In the first of our two-part pet insurance series, we discussed a general overview of pet insurance terms, what to expect and what not to expect. of available fonts. Now let’s move on to the actual costs, as well as examples of two common incidents that would require emergency pet care.

Financial data site ValuePenguin found that the average monthly insurance premium for a dog was $ 42.45 in 2016 based on a $ 500 deductible, with a maximum annual payment of $ 5,000 at 80% reimbursement level for a healthy 4 year old sterilized male. Labrador retriever.

In that same study, he determined that the average monthly premium for a cat was $ 20.99 based on a $ 500 deductible, an annual maximum of $ 5,000, and a reimbursement level. 80% for a healthy 4-year-old female. As mentioned in our last column, prices vary widely depending on the animal’s chosen age, breed, weight, sex, location and level of coverage. And, as you can see, the cost of insuring cats is considerably lower than that of dogs.

We’ve chosen typical emergency medical conditions for cats and dogs to see how much you can expect insurance to cover and break them down. Owners are responsible for covering veterinary expenses up front and then submitting an invoice to their insurance company for reimbursement.

Keep in mind that the vet you choose to perform the surgery has an impact on the cost. Surgery in an emergency room, specialty or referral veterinarian will cost more than at your regular veterinarian’s office, just as seeing a specialist doctor is more expensive than seeing your family doctor.

One of the most common emergency surgical procedures for pets is the removal of a foreign object. As an example, our case study is a 5-year-old male Labrador Retriever who swallowed a sock and needs surgery to remove it. It is covered by an insurance plan that has an annual deductible of $ 250, an 80 percent reimbursement rate, and no coverage cap.

The average cost of surgery for a foreign body ingestion is $ 1,755. Please keep in mind that while this cost can vary widely, this is the estimate we are using for illustration purposes.

To determine your reimbursement with this plan, calculate as follows:

  • Total invoice, $ 1,755
  • Subtract the annual deductible, $ 250, and multiply the remaining amount by the reimbursement rate – $ 1,505 multiplied by 80 percent equal. You will be reimbursed $ 1,204
  • Your total cost is $ 801.

While you may not be able to watch your pet all the time to watch for what they ingest, there are things you can do to better protect your home from pets to avoid this kind of emergency visit. Pick up the clutter on the floor; keep medicines, cleaning products, socks and other valuables out of reach; and buy a trash can your dog can’t open or put it in a secure cabinet.

For our next case study we will be using a 5 year old tabby male who has a blocked bladder and requires surgery, perineal urethrostomy. It is covered by a similar plan, but with an annual deductible of $ 500, a reimbursement rate of 90% and no coverage cap.

The average cost of perineal urethrostomy is $ 1,500, again, keeping in mind that this cost can vary widely depending on several factors.

To determine your reimbursement with this plan, calculate as follows:

  • Total invoice, $ 1,500
  • Subtract the annual deductible of $ 500 and multiply the remaining amount by the reimbursement rate: $ 1,000 multiplied by 90%. You will be reimbursed $ 900.
  • Your total cost is $ 600.


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