[Rebecca]

I checked prices for our puppy and I’m just not sure that it’s worth it.

[Anna]

I have nationwide, it’s through my job so I get a discount. They now only offer 70% reimbursement.

I’ve only had my dog for 6 months and found out that she has hip dysplasia. this year it’s covering the cost after the visits I’ve already needed I have $250 deductible.

The vet told me pets best is pre-approved what they cover at the vet, and easy to work with so I would do that if I didn’t get a discount through my job.

[Angela]

Nationwide, only worth it if you get it as a puppy and keep it. Have saved thousands on Terri major surgeries.

[Linda]

I would take the same amount of money you would pay for the policy and just put in a separate HYSA. That way if you need the money it will be there and if you don’t you come out way ahead. You never know what will happen but I believe the majority of the time no insurance is the way to go. It’s a calculated risk as is everything. I have never lost and I’ve had pets for 30 years.

[Jennifer]

Veterinarian here. Definitely worth it. especially if you end up needing more expensive procedures like cancer treatment.

That could be 10s of thousands over the course of treatment. Not many people have that kind of cash stashed away for a pet. Shop around. Not all plans are created equal.

And if you only buy an accident/illness type policy, you could get something more affordable.

I have insurance on my 3 yr old lab and it’s around $35 a month.

[Jesse]

Rebecca – I’m a former pet insurance owner, longtime financial blogger, current financial planner.

As with all insurances, the main question is: does this insurance protect me from a financial hardship I couldn’t cover out of pocket?

For pets, you have to ask yourself: are you the type of person who would pay any price to keep your pet alive? There are no moral judgments here. I understand both sides of the argument.

For some, they can’t justify two mortgage payments to remove a 12-year old dog’s tumor. For others, they’d re-mortgage their house for another 6 months with Scooter.

If you’re a “pay anything” owner, then insurance is absolutely worthwhile.

If you’re not, then pet insurance is very expensive and, statistically, rarely worth it.

[Victoria]

I did the math on mine bc I have big dogs and figured I’d mostly come out ahead across her life if I saved the same amount the premium was each month in a savings account. Then my dog needed ACL surgery basically so I probably lost on that one. But generally not worth it from my experience with all dogs throughout my life. It’s definitely a personal decision tho. If having the policy removes stress from your life, then do it.

[Rachel]

They wouldn’t be in business if they weren’t able to make money. They will lose sometimes, but they will win more than lose. You need to make the determination on your financial risk tolerance and you ability to set aside your own self insured pet care fund.

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