Pet insurance can be a confusing topic.

As a pet owner, you have undoubtedly asked yourself at some point, “Is pet insurance worth it?” While some say “yes!” and others “no way!” the answer will ultimately depend upon a series of factors specific to YOUR unique situation.

These include:

Do I have an emergency fund?

Did you know that over 50% of Americans lack an emergency fund? It’s scary…but true! According to Pawlicy Advisor, most people have less than $1000 put away in case of an emergency. 

When an unexpected injury or illness pops up, pet insurance can (quite literally) be a lifesaver for animals, if their owners don’t have savings. On the other hand, if your finances are in order and could take a sudden hit, it may not be essential. 

Is my pet at risk for breed-specific issues? 

In addition, it’s important to recognize that not all insurance protections are built the same. Some breeds are far more susceptible to injuries and illnesses than others. For example, Great Danes are at a higher risk of bloat and German Shepherds are known for hip dysplasia. 

So, if you own a breed with a reputation for needing expensive veterinarian care, then pet insurance makes sense. 

What is (and isn’t) covered? 

Now, remember – just because you pay a monthly premium, doesn’t necessarily translate into 100% coverage for your pet. However, most plans cover the basics, such as: emergency exam fees, accidents involving broken bones, muscle tears, x-rays, unexpected illnesses like cancer, and surgeries. 

Be careful though! Lots of pet owners are surprised to learn that things like spay and neuter, vaccinations, and annual wellness exams don’t make the cut. Meaning, you can expect to pay out of pocket. Darn. 

So, yes…Usually, pet insurance is a good idea.  

When trying to decide whether pet insurance is right for you, it can be helpful to weigh the pros and cons. Reflect on these three questions. Answering honestly will help you choose the right path forward. 

“As a pet parent, you don't want to find yourself having to choose between the veterinary treatment your pet needs and your financial stability, says Edwin Plotts, Director of Marketing for Pawlicy Advisor, “Pet insurance gives you the peace of mind that any unexpected vet bills will reimbursed 70%, 80%, or 90% back to you - the peace of mind that you can give your pet the best care possible.”

So which pet insurance is the best? The truth is that the "best pet insurance" depends on your pet's breed, age, location, and more. With 20+ insurance providers in the US, it can be a nightmare to get the best plan.

Luckily, you can use Pawlicy Advisor for free to help you figure that out. Instead of taking hours or even days to thoroughly compare and comb through all the fine print, Pawlicy Advisor instantly compares top providers and real-time quotes side-by-side all in one place with personalized guidance based on breed-specific health risks and lifetime value. Think of it as Expedia for pet health insurance!

Don’t forget! Even without pet insurance, you can always connect with an affordable vet professional via a smartphone using Petzey.  For only $20 you can connect with a veterinary professional instantly!