By Amanda Wegner
People don’t just love their pets — they consider them family.
“Culturally, the way we see our pets has changed,” says Maria Keppel, DVM, and owner of McFarland Animal Hospital. “Most pet parents, when asked, state that their pets are considered family members.”
And, because they cherish their pets, an increasing number of people are willing to support their pet’s health by purchasing pet insurance.
“Pet insurance is quickly growing in popularity, but it’s still relatively uncommon in the U.S.,” says Dr. Keppel. “Right now, we see a few patients with pet insurance a week, but that is a significant change from 10 to 15 years ago, when we would only see an insured patient once every few months.”
Keppel suspects this number will grow in the coming years, and industry analysts predict the same. She adds that most of her insured patients have Millennial or Gen Z pet parents.
Pet insurance is somewhat similar to human health insurance: You select a plan that best fits your pet’s needs and pay a monthly premium to maintain coverage. Then, when a pet needs medical care, the pet parent pays the vet bill first, then submits a claim to the insurance company. Importantly, the onus is on the pet parent to seek reimbursement.
“Unlike human [health] insurance, most pet insurance companies don’t bill vet clinics directly,” says Dr. Keppel. “Owners have to handle payment and claims themselves.”
One benefit of pet insurance is the predictability that comes from having a budgeted expense — the monthly premiums are always the same, meaning no surprises. At the same time, knowing what your pet policy covers is essential. Dr. Keppel says coverage varies significantly between plans and companies, but generally, higher reimbursements mean higher premiums and less out-of-pocket costs.
“Oftentimes, plans that [appear] inexpensive may not actually help when you really need them. Be sure to read the fine print!” she says. “Reliable insurance plans cover unexpected vet bills for accidents, illnesses and emergencies, which makes having to face a large vet bill during emergencies a lot less likely.”
Perhaps the biggest benefit of pet insurance is not having to make tough decisions about your beloved pet’s health on cost alone.
“Having worked in both general practice and ER settings, I can attest that one of the most difficult things to witness as a veterinarian is an owner having to make a potentially life-altering decision for their pet based on financial limitations,” says Dr. Keppel. “In contrast, when we’re faced with a serious medical situation and the owner says, ‘Let’s do what we need to do — I have pet insurance,’ there’s nothing more reassuring or uplifting to hear. It allows us and the pet parent to focus fully on making the best possible choices for that pet.”
Dog owner Andrea Mace echoes this. She had both a pet wellness plan and emergency insurance coverage for her pup, Moxie.
“We never think pet emergencies will happen to us, but they can. When I was suddenly faced with one, I was so relieved I didn’t have to make a decision based on cost. No one wants to be in that position — and thanks to my insurance, I wasn’t,” Mace says.
Importantly, pet insurance does come with some caveats and limitations. With some policies, premiums can increase with pet age, and some may have annual or lifetime payment limits. Additionally, most companies have waiting periods.
Finally, advises Dr. Keppel, pre existing conditions are not covered, so it’s best to get insurance when your pet is young or newly adopted.
