Is Pet Insurance Worth It?

When we welcome a new pet into our lives, there’s a lot that goes into it. Dogs, for example, need special food, a bed, toys, exercise, companionship, grooming, and veterinary visits to maintain good health.

Of course, even with the best planning, things sometimes come up in pet ownership that are unexpected, like emergency vet visits or health issues.

Something some pet owners consider is pet insurance for when veterinary visits are necessary. But unlike with human health insurance, pet insurance is totally optional.

Many pet owners ask, “Is pet insurance worth it?”

When Reddit user u/hoochie69mama started thinking about pet ownership, it’s a question that crossed her mind.

She hopped on the subreddit r/personalfinance and said: “I am thinking of adopting an adult dog soon, and I am considering purchasing pet insurance. Does anyone use pet insurance, and is it worth it and/or necessary for a young adult dog?”

The question started quite the conversation, as hundreds of people joined in to comment and share their thoughts on the topic.

Many people pointed out that, while pet insurance can be expensive, it can also be the difference between getting life-saving care for your pet or watching them die.

“I do pet insurance, not because it saves money (they’d cancel the policy if it did), but because if there is an accident for my pet, I don’t want to have to come up with a monetary bright line for whether or not I can pay for their treatment. I’ve been in that situation a couple times, and it’s really sh*tty,” someone commented.

“IMO very much yes. The gut punch from a vet bill feels a lot more tolerable when your risk is spread out over time. It also takes away the question of ‘can I afford this procedure to not have my pet die,’ which is an awful, awful feeling,” another person added.

Some people suggested keeping a personal “emergency pet fund” so you can cover your own emergency bills when your pet needs it, but that’s not an option that’s feasible for everyone.

Some people suggested that if you have the ability to cough up thousands of dollars at anytime for an emergency surgery or life-saving medication, then pet insurance might not be worth it. However, if you don’t have extra money laying around, then pet insurance can save your pet’s life in an emergency situation.

In the end, it’s a personal choice that depends on what level of risk and risk mitigation you’re comfortable with.