According to Liz Pulliam Weston of MSN Money, pet health insurance can cost $2,000 to $6,000 over your pet’s life, and you likely won’t need to spend that much if you just pay out of pocket. Or maybe you would. The cost of veterinary care has doubled over the last ten years, and there are many more services available now, from MRIs to kidney transplants. If your dog gets cancer you might wish you had a pet insurance plan to finance his expensive treatment.
Dr. Carol McConnell, vice president and chief veterinary medical officer for VPI Pet Insurance said, “Pet owners frequently tell us that they don’t expect to spend much on veterinary care for their pets beyond preventative health checks and vaccinations. Unfortunately, that’s not what our data shows. When an accident of illness does occur, unprepared pet owners sometimes are forced to make difficult decisions: dip into savings, rack up debt, or, in extreme scenarios, euthanize their pet.”
The article that includes this quote also provides some of VPI’s claims data, showing how much pet owners spend annually on non-routine care in different states.
Most Spent Per Pet
- California—$500
- New York—$499
- District of Columbia—$474
- New Jersey—$437
- Colorado—$428
- Connecticut—$420
- Massachusetts—$416
- Maryland—$397
- Illinois—$395
- Oregon—$392
Least Spent per Pet
- Mississippi—$207
- North Dakota—$213
- Missouri—$246
- Arkansas—$246
- West Virginia—$247
- Kansas—$248
- Iowa—$262
- Oklahoma—$264
- South Carolina—$276
- Alabama—$280
Those are the average non-routine costs. You also have to factor in routine medical treatments, like vaccinations, annual exams, and spaying and neutering. For cats, vaccinations cost $45 to $85 in the first year and $10 to $35 annually after that; for dogs, $20 to $150 in the first year and $10 to $100 annually after that. The cost of spaying and neutering depends on the size and breed of your pet—up to $300 for dogs and up to $200 for cats. Lastly, you need to consider the potential for serious illness.
I’m in New York. I think it definitely worth it since it will cost me over $1000 to do all the exams (my dog can’t breath normally a few months ago). Now it’s covered by the insurance. Just make sure that you understand everything before you buy it.