Elvis the Cat: Is Pet Health Insurance Worth It? Consumer Reports Takes a Look

Whenever one of our friends adopts a new furry friend, sooner or later, we inevitably get the questions, Should I get pet heatlh insurance?  Is it worth it?  And while we always try to answer the question, it’s a hard question to tackle since pet health insurance is even less regulated than human health insurance.

Well, fortunately, our friends over at Consumer Reports have tackled the question, and analyzing nine separate pet health insurance policies, the answer seems to be no; on a dollars and cents basis, in most cases, pet health insurance is not worth it. Using an average 10-year old beagle who has the most common injuries and ailments over the year, none of the nine pet health insurance policies would have worth it. In fact, the pet owner would have been behind from $2,500 to $4,300, after premiums, deductibles, out-of-pocket expenses, etc. were taken into account.

Even if our model beagle required major surgery such as a hip replacement, after expenses, a pet owner could only expect to come out ahead with a few of the nine pet health insurance policies. Even then the pet owner comes out ahead only to the tune of between $78 and $1,714.

Of course, buying pet health insurance can buy peace of mind, and some vets recommend pet health insurance as a safeguard against economic euthanasia. If you are concerned about continuing to provide for your pet’s health in the event of any health catastrophe, you may want to consider pet health insurance. However, for your average pet… well, let’s just say you might think twice before buying a pet health insurance policy!

Do you have pet health insurance? Tell us about it!

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5. Elvis the Cat Series: Dog Eats Beehive, Wins the Pet Insurance Hambone Award for Oddest Insurance Claim