Is It Cost-Effective to Have a Pet Plan?

Did you know that in the U.S. alone, at least 80 million households own a pet? Well, for many families, the furry companion became part of the family. And, of course, those families genuinely love their pets. But at the same time, they are displeased with the continually increasing princes in the pet care niche. 

So, keeping this in mind, one might ask if pet insurance is essential. There are many great reasons to invest in affordable pet insurance like Bivvy, so to help you with this, we’ve created this article in which you will find all the information you need about pet plans.

Pet insurance: the definition

Similar to individual health plans, pet insurance represents a financial aid meant to cover your back in case of accidents, diseases, or unexpected events. The proprietor meets a monthly or annual fee to an insurance provider, for which the provider offers compensation in case of injuries, sickness, or emergency vet care.

Of course, the coverage and price are established by the type of pet insurance plan you opt for. There are three basic coverage outlines, as it follows:

  • Accident coverage


There is no way for you to ascertain when a pet will suddenly be involved in an accident. Still, when accidents happen, pet owners desire all the best for their furry friends to help them recover. And this usually means avoiding financial distress.

Accident coverage plans to aid in dealing with such costs for accident-related issues, including broken bones, bites, lacerations, or eye injuries, and this plan can be a useful tool for such situations.

  • Illness coverage

Health problems can happen no matter the age or breed of your pet is. Still, if you are looking for getting such a plan, it is best to purchase one when your pet is young. Prices can increase as your pet ages, while the provider might not offer coverage for any pre-existing health issues.

Of course, this plan can aid in managing the cost of dealing with UTIs, cancer, allergies, or digestive problems, which to tell you the truth can become quite expensive.
  • Wellness coverage

If you want the fittest solution for your pet, you should know that routine wellness appointments are a must. These are great for vaccination purposes, along with checking for rabies or heartworm. Also, this type of plan might include spaying and neutering or even dental care, as well as different services which can cover anything from $45 to $400, depending on the features of the policy you purchase.Overall, based on the provider for the pet plan you opt for, you can select any type of coverage for your pet.

What is the mechanism behind pet insurance?

Well, as it is the case with any insurance policy, you will be required to pay a pre-determined deductible, co-pay, and premium. Still, pet plans are distinct because you will have to pay the entire cost of the vet bill up front and afterward request reimbursement. 

Thus, after your pet got the vet care and you’ve paid the costs, you’ll have to create a request for reimbursement with the company, which holds your policy. The provider will reimburse accordingly to your plan, meaning you can get anywhere from 20 to 100 percent based on your plan’s features and coverage.

What is the overall cost of a pet plan?

You should know that the price of a pet policy can be distinct depending on its particularities, your pet’s breed, and age. The race is an essential factor, as several types of pets come with hereditary conditions or potential health issues. Besides, the age of the animal is vital for coverage, as the older the animal is, the more likely it will experience health problems. 

The price for a pet plan will depend on the area you live in, while the particularities of the policy can add to the overall value. And this happens because vet care prices are higher in some areas. That will make your monthly premiums vary. Furthermore, if you purchase an accident, illness, and wellness coverage, you should expect your premium to be significantly pricier than it is the case with basic coverage. You should know that most pet plan providers solely focus on covering dogs and cats. Thus, if you own a rabbit, bird, or reptile, insurance plans can be quite different in terms of features and cost. As such, you can use a search platform such as Petinsurancefinder to determine which method is best for your pet. There are various providers listed from the U.S., which allows you to compare and analyze all their features and drawbacks.

What’s excluded from a pet plan’s coverage?

Even though there are quite a few advantages that come from purchasing a pet plan, there might be situations in which it is not recommended to do so. As an example, if your pet’s breed is predisposed to specific health issues, your pet might not qualify for coverage. 

Just think about Addison’s disease, which is frequently developed by Poodles, Great Danes, and Bearded Collies. The fact that these breeds are predisposed to Addison’s makes pet insurance providers less inclined to cover for their treatment. Thus, getting a pet policy might not be helpful for you if you aim to get monthly financial aid for your pet’s medication. And, of course, any pre-existing health issue is not covered by most pet insurance policies.

Thus, do you need pet insurance in your life?

Now, when you know all the details about how a pet plan works, it is entirely reasonable to ask yourself whether or not pet insurance is worth it. And this happens because a pet plan can add to your monthly expenses, and you need to consider if it is beneficial for your situation seriously. There are cases in which it is more practical to pay the vet costs yourself rather than having a pet plan.You should get pet insurance in the following cases:

  • You don’t have a savings account for emergency vet costs;
  • Your pet requires several vet appointments besides the annual check-ups;
  • Your pet is undergoing treatment (be advised that not all companies offer coverage for this);
  • You get a discount for coverage due to your work benefits.

You should not get pet insurance in the following cases:

  • You own a savings account with at least $3000 for emergencies, and you can access it at all times in case of your pet’s distress;
  • Your pet breed makes it prone to specific health issues;
  • Your pet has a pre-existing health issue;
  • Your pet is extremely healthy and only goes for an annual vet check-up.

Establish if a pet plan is suitable for your budget

Of course, the main advantage of a pet plan is that it offers you’re a lot of peace of mind in case of a pet emergency. And it is an excellent tool for avoiding financial issues, too. Pet plans can be a useful way to save a lot of money when accidents or illnesses that lead to expensive treatment costs happen.

Still, you are the one who needs to decide if this is a smart move for you and your pet. You have to understand the ups and downs of a pet plan, along with the fact that it is an additional monthly expense you need to cover.