Does Your Dog Or Cat Need Health Insurance? They Might

Inflation makes everyday expenses more expensive, and pet care is no exception. Not only is the cost of food and care going up, but so are veterinary bills.

Pet experts say that on the national average, a routine dog check-up by the veterinarian can cost between $50 and $250. Americans spend up to $1,500 a year on routine dog checkups, dental services, lab tests, and vaccinations. With inflation, these costs may increase.

Pet insurance can limit the financial risk of pet owners while providing quality care for your furry family members. Sean Burgess, Lemonade's lead pet insurance specialist, says the cost of pet care has skyrocketed over the past decade.

“Treating conditions like cancer and chronic conditions like diabetes can cost pet owners tens of thousands of dollars without insurance,” Burgess told ConsumerAffairs. “In addition, emergency medical care and hospitalization can cost pet owners several thousand dollars at once.”

There are many possibilities

When purchasing pet insurance, keep in mind that it is very similar to human health insurance. Different plans cover different things.

For example, some policies cover unexpected vet bills. B. injury to your pet. Others cover routine medical services. Some cover both. The ability to customize the coverage you want often helps ensure your pet gets quality care while saving you money.

“Lemonade allows you to customize your policies, including optional coverage packages and add-ons, and when you apply, you can customize your annual deductible, co-insurance, and annual limit to find the premium price and coverage that works best for you.” Burgess says. .

Some of the Lemonade policy plugins include:

More pets insured every year

Approximately 3.45 million pets were insured in the US and Canada as of the end of 2020, according to the North American Pet Health Insurance Association (NAPHIA). Increasing veterinary bills are likely to be a key driver of growth.

But Burgess says it's also indicative of a strong bond between people and their pets, who are often considered family members.

Pet insurance gives you the peace of mind that you're covering major vet bills so you don't have to make cost-based decisions when it comes to caring for your pet," he said. "Unlike a dedicated savings account for pets, pet insurance covers the costs so you don't have to spend your savings on veterinary care and save on other essentials."

The Consumer Protection Research Group has carefully researched pet insurance to help you choose the right coverage. Check out our results here.

Do pets need to be insured? veterinary advice