Most veterinary care specialists will tell you the decision whether or not to enroll in pet insurance is a personal one.
"It’s common to pay $300 a year or more for pet insurance," Robert Krughoff, president of Checkbook.org, told NBC. "Over the life of a dog or cat that might be $5,000 or more. Most people are not going to have a big expense like that." If you're budget-minded, starting an emergency fund for a pet can be an excellent alternative.
Every dog (and owner) is different. If your dog likes to eat things he shouldn't, or play roughly with other dogs, a plan that covers emergencies could help put your mind at ease. As our pets age, new health issues may flare up, and with all the advances in veterinary medicine, miracles can be worked to prolong our pets' lives — which can make it even more difficult if you simply can't afford treatment.
We can never know the future, and pet health insurance premiums may very well end up being higher than your dog or cat's vet bills over the course of their lifetime. But if you do not have the funds to cover a vet visit that can set you back thousands of dollars, and a monthly payment is more manageable, pet insurance is something to consider.