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Is Pet Insurance Worth It?

If your pet gets injured or sick, pet insurance helps cover medical expenses. What was once an obscure insurance

product has been gaining in popularity. Pet insurance purchases have increased for both dog and cat owners (and nearly doubled for cat owners), according to the 2021-2022 National Pet Owners Survey by the American Pet Products Association.

If you’re thinking about hopping the pet insurance bandwagon, you may be wondering if pet insurance is worth it. Here are some things to consider.

Average Treatment Costs for Pets

To determine if pet insurance is worthwhile, it’s good to know what kind of vet bills you could be looking at. Here are examples of average treatment costs. (Source: Based on claims costs in one year, from 2017-2021)


Average annual cost of treatment for dogs

Average annual cost of treatment for cats




Ingested Foreign Objects






Broken Bone



Heart Murmur






Dental Disease



Bladder Infection/UTI



Some pets are also prone to hereditary conditions that could increase their cost for care. For example, large dogs (Labrador retrievers, Great Danes, German Shepherds, etc) are more likely to have hip dysplasia, which could cost between $3,500 and $7,000, sometimes even more, depending on the situation.

What Does Pet Insurance Cover?

You have two types of plans available to choose for your pet. The first plan covers Accident & Illness. The second plan covers Accident/Illness & Wellness. A pet insurance policy will state the amount the insurance company will pay for medical expenses.

Accident & Illness plans covers claims such as:

  • Broken Bones

  • Toxic Indigestion

  • Ingested foreign objects

  • Dental illnesses like gingivitis

  • Chronic conditions like diabetes

  • Breed specific conditions like hip dysplasia

  • Emergency Care

  • Hospitalization and surgery

  • Prescription Medications

Wellness Plans cover claims such as:

  • Office Exams

  • Boosters & vaccinations

  • Routine Dental Cleaning

  • Flea & tick prevention

  • Heartworm tests and medication

  • Intestinal deworming

  • Prescription Medications

So, Is Pet Insurance Worth It?

Insurance companies aren’t in the business of paying more out in claims than what they take in in premiums. But that doesn’t mean the odds are always against you. It is important to know that four out of five pets will have an unexpected emergency. If you get socked with a large, unexpected vet bill, what you’ve paid in premiums can be far less than what you receive in reimbursement. And that’s the main point of insurance: To have financial protection against large disasters.

When deciding if pet insurance is worth it, ask yourself:

  • What are you willing to pay out-of-pocket for vet bills?

  • How would you pay for costly vet expenses if something did come up, like an accident or an illness such as cancer?

Buying pet insurance can give pet owners peace of mind, as well as options, so they can make the best care decision possible for a pet, without the financial risk.

What do you do now?

Selby Insurance is able to assist you with choosing the best plan for your needs. We can customize a plan for you based on plan choice, deductibles, coinsurance, and annual benefit maximums. To design your custom plan, and get a quote for your pet insurance, give us a call here in Jonesboro at (870) 336-2121 or stop by our office at 2216 Wilkins Avenue.


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