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Is pet insurance worth it? What vets and pet owners want you to know

Taneia Surles, MPHJuly 7, 2026, 3:01 p.m. ETHear this story

If your pet develops a stomachache, gets a troublesome tick bite, or begins hobbling around the house, heading to the veterinarian is generally the next move to get them assistance. However, veterinary costs can add up fast, particularly if your animal needs scans, operations, or ongoing prescriptions.

Plenty of pet parents debate whether investing in pet insurance justifies the extra expense. Although pet insurance can provide financial security, plans differ significantly and often fail to cover what owners anticipate.

Yet for certain pet owners, the true benefit becomes apparent during a crisis or during a pet’s final days.

“When you’re grieving, the last thing you want to be doing is math in a vet’s office,” said Jordan Colton, whose cat Brother has since passed away. “Insurance buys you the room to decide based on what's right for your pet, not what's left in your account that day.”

Pet insurance might not be suitable for every household — but grasping how it functions before your animal actually requires it can make a difference.

How much does pet insurance actually cost?

“There are several factors that determine the cost of pet insurance premiums, including your location, available providers, the typical veterinary fees in your area, and your pet’s breed, age and gender,” explained Kate Boatright, VMD, a small animal veterinarian.

Dr. Boatright shared a breakdown of the average monthly pet insurance costs for dogs and cats:

Dogs

• Accident-only: $18 to $42
• Accident and illness: $48 to $111
• Wellness plan: $20 to $45

Cats

• Accident-only: $8 to $18
• Accident and illness: $29 to $66
• Wellness plan: $14 to $33

“Pet insurance is usually paid through monthly or annual premiums,” she explained. “Some pet insurance companies also offer plans with deductibles, which is an annual amount you’ll have to pay out of pocket before your coverage kicks in. The higher the deductible, the lower your premiums are likely to be, and vice versa.”

Most plans reimburse a percentage of eligible expenses after you’ve met your deductible.

What are the biggest benefits of pet insurance?

According to Philip Putter, DVM, a small animal veterinarian and founder and owner of Spot On Veterinary Hospital & Hotel, the biggest benefit of pet insurance is the freedom to make choices based on your pet’s medical needs, rather than what you can afford at that moment. 

“Veterinary medicine has advanced tremendously, and advanced diagnostics, imaging, chronic disease management and complex surgery can become expensive,” Dr. Putter said. “Insurance helps to make those decisions easier.”

Another potential advantage for pet owners is financial protection from unexpected veterinary costs. “Pet insurance can help ensure that a catastrophic pet injury or illness won’t break your bank account, and the right plan can also help make non-emergency care more affordable,” Dr. Boatright said.

Erika Byrnison, the owner of Maude, a 6-year-old lab-dachshund mix, said her pet insurance came in handy when she found out her pup was born with a condition called enamel hypoplasia, where tooth enamel doesn’t develop properly. 

“I had to pay out of pocket up front, but thankfully was reimbursed,” she said. “She later needed an extraction, sealants and more restorations. Since then, the work has held up, and she just needs regular cleanings, but the initial work was reimbursed for $7,800.”

What pet insurance usually covers — and what it often excludes

Pet insurance plans are not one-size-fits-all. Coverage will vary between policies. 

Here’s what is typically covered:

• Illnesses
• Accidents and injuries
• Diagnostic testing
• Emergency care
• Surgery
• Prescription medications
• Chronic disease management
• Some hereditary conditions (depending on the policy)
• Wellness coverage (if purchased as an add-on)

Dr. Putter said pet insurance typically won’t cover pre-existing conditions, which is why he advises his clients to enroll early. 

“Once a diagnosis or injury is documented in the medical records, it usually is no longer covered,” he said. 

Other common exclusions include: