September Is National Pet Insurance Month: Why It Matters for Pet Owners
Sep 24, 2024 | Stephanie Dwilson
Reviewed by Dr. Fiona Lee
September is National Pet Insurance Month, and with veterinary costs rising, it's more important than ever for pet owners to purchase pet insurance.1
By the end of 2023, 16.7% more pets in North America were insured than the year before, totaling close to 6.25 million.2 But with an estimated 82 million pet-owning households in the U.S.,3 many pet owners still don't have insurance.
This can be a big problem because approximately half of all pet owners underestimate how much it will cost to care for their pets. An unexpected bill of just $250 can trigger anxiety about being able to pay.4 But with insurance, pet owners can have peace of mind and security, knowing they can be ready for the unexpected. That's why National Pet Insurance Month is so important.
What Is National Pet Insurance Month?
National Pet Insurance Month was started by a group of animal shelters, insurance companies and veterinarians to encourage pet owners to purchase insurance.5 Although pet insurance has been around in the United States since the first policy was introduced in 1982,6 many households still don't have insurance.5
When your pet is healthy, it's easy to overlook the need to be ready for surprise medical expenses. September provides an opportunity to spotlight pet insurance and why it's such an important part of planning ahead for your pets.5
How Does Pet Insurance Work?
Pet insurance is designed to help you pay for unexpected accidents and illnesses, so that you can provide better medical care for your pet.1 (Some plans also have add-ons for wellness and preventive care.)
You'll pay a monthly premium for your policy and you'll have to file a claim when your pet needs medical care.7 Some pet insurance plans pay your veterinarian directly, but most reimburse you later, after you've paid the veterinarian up front.1
Pet insurance policies have deductibles you must meet every year before coverage kicks in. Some plans also have maximum caps they'll pay each year, depending on the policy you choose.7
The Benefits of Pet Insurance
Why is pet insurance important? One out of three pet owners will face an unexpected pet expense at some point that causes financial worry.4 If you have pet insurance, you will have less worry about how you'll pay for the costs.
For example, in 2023, the top paid out insurance claims for dogs and cats in North America included the following:2
| Pet | Condition | Total claim paid |
| Male Golden Retriever, age 6 | Lymphoma | $51,133 |
| Male Bernese Mountain Dog, age 8 | Heart issues | $50,000 |
| Male Black and Tan Coonhound, age 4 | Vomiting | $46,900 |
| Female Labrador Mix, age 3 | Pneumonia | $43,714 |
| Male Domestic Shorthair Cat, age 5 | Spine and disc issues | $59,470 |
| Female Domestic Shorthair Cat, age 2 | GDV and abdominal issues | $35,666 |
| Female Domestic Shorthair Cat, age 5 | Diabetes mellitus and renal failure | $31,923 |
| Female Maine Coon, age 10 | Anemia (IMHA) | $31,900 |
When treatments get this expensive, insurance can give pet owners peace of mind and enable better healthcare decisions. This is especially important because 7 out of 10 pet owners see their pets as family members.4 You don't want to face the stress of having to deny a family member lifesaving medical care because it's too expensive.
Some pet insurance policies also offer other benefits, such as the 24/7 Pet Helpline that Pets Best offers policyholders. When you have a health question outside of business hours, it can be helpful to have access to a veterinary expert.
Types of Coverage Available
When shopping for pet insurance, you can choose from different types of policies. The main kinds include:7
- Accident-only: This has the lowest priced premiums, but only covers injuries from accidents (like broken bones.) Illnesses aren't covered.
- Accident and illness: This type of plan covers both accidents and unexpected illnesses.
- Wellness: These routine care plans cover annual veterinary checkups, preventive medicine, etc.
- Extras: Some plans allow you to choose add-ons like physical therapy and rehabilitation coverage.
Choosing the Right Pet Insurance
When choosing the pet insurance plan that's right for your furry family member, you'll want to look into these factors:1
- Will premiums increase as your pet gets older? Will your pet get kicked off insurance at a certain age?7
- Will premiums increase if you make a claim?
- Will premiums increase if you move?7
- Are there limitations or extra costs for insuring your pet's breed?
- Are there discounts for multiple pets?
- What are the deductibles and co-pays?
- What's the annual maximum cap?7
- Can you see any veterinarian you want?
- How are costs reimbursed? Do you pay the bills up front, or does the insurance provider pay your veterinarian? How long does this take?
- Does the insurance cover routine wellness checks and exams?
- Is there a 24/7 customer service team?7
In addition to these questions, you'll need to read the fine print and look closely at the policy's exclusions. These may include:7
- Pre-existing conditions (most plans don't cover previous illnesses or injuries).
- Specific treatments or conditions.
- Breed-specific exclusions. Some policies exclude coverage of hip dysplasia or ear infections for certain breeds.
- Bilateral exclusions. Some policies only cover hip dysplasia one time, for example.
Finally, you'll need to ask yourself what types of add-ons you're interested in, based on your budget. Do you want to cover physical therapy and rehabilitation if that's available?7 Do you want a wellness plan? Wellness plans can be helpful in an economic climate where many pet parents are trying to spend less by avoiding things like yearly appointments or dental care.8
Myths and Misconceptions
National Pet Insurance Month is a good time to dispel some common myths and misconceptions about pet insurance.9
Myth #1: Pet insurance is too expensive and not worthwhile
Pet insurance really isn't that expensive. In 2023, the premiums for accident and illness insurance in the U.S. averaged out to:2
- Cats: $383.30 a year (about $32/month)
- Dogs: $675.61 a year (about $56.30/month)
Many pet owners find it easier to budget for this small monthly amount versus paying a huge medical bill right away.
Myth #2: Pet insurance doesn't save money
While pet insurance requires a monthly investment, this can save you a lot of money in the long run if your pet has an emergency.
If your pet ingests a toxin, it can cost up to $6,000 or more to treat. Urinary issues can cost $1,500 to $3,000 or more. Emergency veterinary care adds up, with an ER exam costing up to $200, IV fluids costing up to $95 per bag, a basic X-ray costing up to $250 and wound treatment costing $800 to $2,500.10 All of these fees can add up to a huge expense without insurance.
Myth #3: You have to pay out of pocket
While technically true, paying out of pocket isn't the end of the story. With most (but not all) pet insurance providers, you'll have to pay your veterinarian for the service or surgery up front. But your insurance plan will reimburse covered costs later, after you file a claim, so some of your out-of-pocket payment is just temporary.9
Myth #4: You shouldn't get insurance for an older pet
While it's better to get insurance when your pet is a puppy or kitten since the premium is typically lower, many insurance providers insure your older pets, too.9 Pre-existing conditions won't be covered, but you can still benefit from the policy, especially if your older pet is relatively healthy.7 You'll simply need to find a plan with no age limit.
How To Celebrate National Pet Insurance Month
Interested in celebrating National Pet Insurance Month? It's easy! Here are a few ideas:
- Research and purchase a pet insurance policy.
- Share on social media how pet insurance has helped you. Tag your insurance provider if you can. Your story can help dispel common misconceptions! But remember, don't go into coverage details unless you are a licensed insurance agent.
- Leave positive testimonials about the holiday on your insurance company's social media posts.
- Leave a positive review for your pet insurance provider.
Pet Insurance Is Worth It
National Pet Insurance Month is a great time to get an insurance plan for your pet. Just do all your research first, read the fine print and don't be afraid to ask questions. The right plan can give you peace of mind, knowing you will help handling unexpected vet bills if they arise.
Pets Best Can Help You Keep Your Pet Healthy
Purchasing pet insurance may help you protect your dog or cat if they were to develop a disease or illness. At Pets Best, our dog insurance plans and cat insurance plans can be customized for your pet's unique needs. In addition, Pets Best policyholders can speak to a veterinary expert anytime through a 24/7 Pet Helpline.Sources/Citations
1. "Do you need pet insurance?" (n.d.), American Veterinary Medical Association, https://www.avma.org/resources-tools/pet-owners/petcare/do-you-need-pet-insurance
2. "State of the industry report: 2024 highlights," (4/2024), North American Pet Health Insurance Association, https://naphia.org/industry-data/
3. "Industry trends and stats," (2024), American Pet Products Association, https://americanpetproducts.org/industry-trends-and-stats#
4. "Lifetime of care study," (1/2022), Synchrony, https://petlifetimeofcare.com/
5. "National pet insurance month 2024: When it is & how to observe," Nicole Cosgrove (8/2024), PangoVet, https://pangovet.com/pet-lifestyle/general/national-pet-insurance-month/
6. "National pet insurance month," (n.d.), MainStreet Veterinarians, https://mainstvets.com/national-pet-insurance-month/
7. "LEGALease: Pet insurance - frequently asked questions," (n.d.), New York State Bar Association, https://nysba.org/legalease-pet-insurance-frequently-asked-questions/
8. "Facing economic uncertainty, clients delay veterinary visits," R. Scott Nolen (11/2023), American Veterinary Medical Association, https://www.avma.org/news/facing-economic-uncertainty-clients-delay-veterinary-visits
9. "3 pet insurance misconceptions you should know," Matt Richardson (10/2022), CBS News, https://www.cbsnews.com/news/pet-insurance-misconceptions/
10. "Pet emergency statistics and veterinary costs," (n.d.), Preventive Vet, https://www.preventivevet.com/pet-emergency-statistics