Earlier this year, my family dog managed to rack up a $4,000 vet bill.
Bandit had become so sick he wouldnt eat or drink; he couldnt even stand up.
What do you do?
Penny Hoarder writer Carson Kohler sits with her kitten Josie and her family dog Bandit. Sharon Steinmann/The Penny Hoarder
my dad, the (typically) frugal father he is, shrugged.
(Bandit is his favorite child, by the way.)
Then he was fine.
Luckily, they could pay it.
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A few months ago, I unexpectedly adopted a kitten (found her on the highway).
I love her with my whole heart, and if something happened to her, Id be devastated.
But if I got a $4,000 bill?
Quite frankly, Id be screwed.
That sparked slight panic (like everything else), so I started looking into pet insurance.
So Whats Pet Insurance?
Americans will spend$16.62 billionon vet care this year, according to the American Pet Products Association.
Did you know?
OK, so weve established that vet bills can be expensive, especiallythe surprise kind.
Thats where pet insurance can help.
Typically, these plans cover some part of the bill from any illnesses or injuries.
Life happens, right?
In fact, her mini poodle, Seamus, used to get sick almost every spring.
She couldnt figure it out.
Hed have to go to the vet where theyd give him barium and do X-rays.
Then hed be fine.
The little rat, Lynch says with a chuckle.
No ones allowed to eat cherries on my deck anymore.
Each time this happened, she relied on her pet insurance.
Shes had Seamus insured since he was about 12 weeks old.She estimates shes saved about $5,000 so far.
How Does Pet Insurance Work?
Typically, each plan has an annual deductible, which you have to satisfy before the insurance kicks in.
You also pay a monthly premium.
Sometimes the vet will work directly with the insurance company if the bill is steep or more complicated.
The total vet bill reached $2,000.
So… How Much Does Pet Insurance Cost?
The average cost of pet insurance for dogs is $22 a month.
For cats, its about $16 a month, according toConsumer Reports.
You get what you pay for when it comes to coverage, Lynch says.
Based on reviews fromCanine Journal, I decided to comparePets Best Insurance,Petplan InsuranceandHealthy Paws Pet Insurance.
Subject No.
(You already met him, I guess.)
We think hes about 9 years old now.
Subject No.
2
Now meet Josie.
Shes about 12 weeks old.
Shes the stray I found in the middle of the highway.
Shes young, spry and healthy.
Thatll be up to you.
Heres what you should look for when shopping around for pet insurance:
1.
Take into consideration any predisposed medical conditions for your pets breed.
For example, some dog breeds are more likely to develop arthritis or diabetes.
How much will it cost to treat those ailments?
Lynch says she asked her vet:Whats a really common condition for a poodle to have?
How much would it cost if that happened?
Thatll help you determine what level of coverage youll need.
Understand Whats Covered
Its important to study an insurance plans coverage.
So Who Needs Pet Insurance?
It just depends, and that decision is up to you.
For Lynch, it just makes sense.
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder.
She shares way too many pictures of her cat with the office.
If youd like to see some, too, just find me on Twitter.
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