What Is Pet Insurance and How Does It Work?

What is Pet Insurance and How Does it Work

As pet owners, we love to lavish our beloved companions with endless treats and toys. But, are you prepared in the case of a pet emergency? It’s estimated that 1 in 3 pets will need emergency veterinary care in any given year. These bills can be costly and a burden to unexpecting pet owners. By having your pet insured you can feel comfortable knowing that your furry friend will be covered in the event of an emergency. 

What is pet insurance? 

If you’ve never heard of pet insurance before, don’t worry, most pet owners don’t even know it exists! It’s estimated that only 2 percent of all owners have their pets insured. Just like health insurance, pet insurance covers the cost of treating illnesses or injuries. 

At PetMedic Hospitals, we understand that things can happen unexpectedly. To help accommodate our clients, we accept all forms of pet insurance. All our locations also accept CareCredit and ScratchPay

What’s the difference between your Pet Wellness Plans and pet insurance?

Pet insurance is primarily used for accidents, illnesses, and emergencies. Our Pet Wellness Plans focus on your pet’s preventative care needs. This includes vaccinations, spay/neuter, microchipping, dental cleanings, and more. While they are not specifically meant for emergency veterinary care, our Wellness Plans clients save up to 15% on all additional services and have unlimited free physical exams for their pet. 

Is pet insurance worth it?

While it may be easy to overlook while your pet is healthy and young, emergencies can happen at any time. Additionally, insurance helps cover the cost in the event your pet develops a chronic illness or life-long health condition. For example, an insured pet with no pre-existing conditions that later develops allergies will have the cost of treatment covered. Having your pet insured creates peace of mind knowing that in the event of an emergency, your pet can receive the care they need without hefty costs. 

How much does pet insurance cost?

The price of insurance plans can vary depending on your pet’s age, breed, and medical history. Some breeds that are more prone to health conditions, such as bulldogs, will have higher premiums. The cost will also vary depending on the coverage you choose. Some of the most popular pet insurances are Trupanion, Embrace, Nationwide, and Healthypaws

What should I be looking for when I’m comparing pet insurances?

Picking the right plan will depend on your lifestyle, budget, and pet’s needs. 

We recommend comparing these 3 factors when deciding: 

  • Annual Deductibles
  • Annual Coverage
  • Monthly Premiums 
  • Reimbursement method

Your annual deductible is how much you must pay out-of-pocket before your insurance kicks in. For example, if your pet gets sick and the vet bill is $500, and your annual deductible is $500, you would pay that amount out-of-pocket. If your pet needs to be seen again for the same issue, your insurance provider would cover the total. If the first bill was $750, and your annual deductible was $500, you would pay $500 and your insurance provider would cover the remaining amount. 

Your annual coverage is the max amount of reimbursement your insurance will pay out each year. Many pet insurances have unlimited annual coverage but always check beforehand.

Your monthly premium is how much you pay each month to keep your pet insured. This rate will vary depending on your pet’s age and breed. 

Lastly, the reimbursement method is how your insurance provider will pay for these costs. Some providers will reimburse you after, meaning you have to pay upfront. While others, like Trupanion, will pay the animal hospital directly. 

Whichever pet insurance you choose, all help protect your pet in the event of an emergency. Have any more questions? Message us and we will help you to the best of our ability.


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