There are nearly 400 million pets in the US, and at least 70% of families across the country have at least one. To most of those pet parents, pets are members of the family. 

Most pet parents prioritize the health and well-being of their pets. They do everything they can to ensure their pets are happy, well-fed, and comfortable. Even with the utmost care, however, unexpected issues can arise. 

Like humans, pets can get hurt or sick. They can tear a muscle playing in the yard. They could get into a fight with another animal or get hit by a car. Pets can also develop lasting health issues such as arthritis, chronic allergies, or cancer. 

The unfortunate reality is that pet health care can be expensive. A sudden emergency can set a pet parent back financially, leaving them wondering how they’ll afford the cost of the care their sick or injured pet needs. Pet insurance plans can help alleviate a substantial amount of that financial burden. The problem, however, is that not every pet parent has a plan to cover their pets. Choosing the right policy is crucial for protecting the health of a beloved pet and a pet parent’s finances. Here’s an industry look at pet insurance. 

Pet Health Care: The Average Costs

Owning a pet (even one that’s young and healthy) can be expensive. Even young, healthy cats and dogs require things that cost money. They need food, water, toys, cozy bedding, flea and tick prevention, and routine vet visits. 

Initial costs can range between $260 and almost $2,000, depending on where the pet parent gets the pet, licensing fees, and what the pet needs. Annual costs may vary from around $380 to upwards of $2,000. Again, those numbers vary based on several factors such as how much food the pet needs, what medications they might require, and more. 

For most pet parents, these costs aren’t a problem. But, what happens if there's a sudden emergency? The average cost of an emergency vet visit ranges from $800 to $1,500. Depending on the issue, however, some trips to the emergency clinic can end up costing pet parents $10,000 or more. Unexpected costs like that can cause severe financial harm. Even those who have some money set aside for emergencies may find the cost too much. 

That’s where pet insurance policies come in handy. The right policy can save pet parents hundreds, if not thousands, of dollars on vet expenses. In essence, they can keep their pets and their finances healthy.

Why Don't More Pet Parents Have Pet Insurance Plans?

While many people in the US have a pet, very few of them have a pet health insurance policy. In the US, less than 3% have insurance plans. Of those with insurance, 83% covers dogs, and 17% covers cats. 

With the costs of pet ownership being so high (and the cost of emergencies even higher), why do so few pet parents have pet insurance plans? Here are a few of the most common reasons:

A Lack of Knowledge

Some pet parents don’t know that pet health insurance exists. They might confuse comprehensive policies with the pet care plans some vets offer. 

Pet Parents Say Their Pets Are Healthy

Even if pet parents know about pet health insurance, they might not think they need it if their pets are young and healthy. Even the healthiest pets can get sick or injured, though, which could end up costing a pet parent a large sum of money. 

Some pet parents think they’ll wait until their pets get older before they get a policy. Unfortunately, premiums tend to increase the older a pet gets. What’s more, pet insurance companies won’t cover medical care costs associated with conditions developed before enrollment (pre-existing conditions). The sooner a pet parent enrolls, the better. 

Pet Parents Don’t Think the Cost Is Worth It

In some cases, pet parents might think the cost is unnecessary. While it’s nice to think they’ll never need to use the policy, it’s often better to be prepared. Having the policy and not needing it is better than needing the policy and not having it. 

The Benefits of Pet Health Insurance

For pet parents unsure of whether or not to purchase a pet health insurance plan, here are a few benefits to keep in mind:

• They can save hundreds or thousands of dollars on pet health care. 
• They don’t have to dip into savings or go into debt to pay for pet-related emergencies. 
• They get peace of mind.
• They’re more likely to seek the care their pets need as soon as they need it. 

Pet Insurance Plans: Protecting Pet Health and Pet Parent Finances

A pet parent might think their pet doesn’t need a pet health insurance policy, but even young, healthy pets can suffer severe health issues without warning. The best news is that most policies (especially for young, healthy pets) are generally affordable. Pet parents can get their pets the care they need when they need it, helping to ensure the health, comfort, and happiness of their beloved pets. 

With Fuzzy Pet Health insurance, pet parents can quickly get 80% reimbursement on their covered costs. Along with covering many types of accidents and illnesses, the policy also provides free unlimited access to Fuzzy’s live online vet chat. Pet parents can speak to a real, qualified vet at any time for the cat health advice or dog health advice they need, whenever they need it. For more information and to get a quote, pet parents can visit Fuzzy today.