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Pet Insurance: Is it Right for Me?

As healthcare costs continue to rise, pet insurance is becoming increasingly popular among pet parents. There are many benefits to having a health insurance policy for your pet. Some policies cover wellness care, such as vaccines and grooming, as well as illness and injury. Other policies only cover injury or illness. Whatever your preference is, there's a policy out there for you.

Pet Insurance provides you, the pet parent, peace of mind in knowing that you will never have to compromise when it comes to providing the best treatment possible for your pet. You are able to budget the cost of pet care each month without worrying about unexpected vet care bills if an emergency, injury, or illness arises.

Ken Niedziela, editor for Today's Veterinary Business magazine, wrote the following in the Feb/March 2022 issue:

My year-old English Labrador retriever is built like a Ford Mustang - powerful, speedy and low to the ground - but little did I know when I brought her home that she will end up costing me just as much as a sports car, or more.

Over 15 years, according to Synchrony's Lifetime of Care study, Mocha will run up expenses of nearly $20,000 to just over $55,000. That's what the survey of 1,200 U.S. pet owners and 100 veterinarians revealed. On the other hand, if Mocha were a cat, I'd spend from $15,055 to $45,790, depending on her breed, where I live, Mocha's lifestyle, and my thriftiness and attention to veterinary care.

"We often see pet parents get surprised by these expenses," said Jonathan Wainberg, a senior vice president and general manager of Synchrony's pet division. "In talking to our veterinarian partners, we wanted to provide a preparedness plan for what those expenses could be."

"You say a car," he told me, "I say a pretty nice car."

The Lifetime of Care report ( ) also found:

  • 45% of dog owners who originally thought they were financially ready for pet expenses were not. Among cat owners, 38% weren't ready.

  • 46% of pet owners said an unexpected expense of up to $500 would be a financial issue.

The study wasn't intended to discourage pet ownership. Rather, the goal was to raise awareness and nudge people into thinking about how to pay for pet care.

Source: Niedziela, Ken. "A Major Purchase." Today's Veterinary Business, February/March 2022, pp 4.

The bottom line is that life often throws us unexpected curve balls. You can be ready for the unexpected with a pet insurance policy.


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