The quick answer is A LOT. Pet insurance is a tool that can help prevent you from burning through your savings to cover your pet’s unexpected vet bills. Let’s understand how much you can get back using pet insurance.
Owning a pet can be considered one of the most beautiful things to do in a lifetime. It is not an easy job though. The routine vet visits, grooming, vaccinations, diet, toys, beds, treatments for medical conditions, and a hundred more things are essential parts of pet ownership. Vet visits may cost you thousands of dollars in total over the course of your pet’s life. And this is where pet insurance can help.
What Do Pet Insurance Plans Cover?
Most pet insurance policies include coverage for:
Injuries and accidents, including:
Bite wounds
Swallowing harmful objects
Broken bones
Emergency pet care, which can include:
Severe Pain
Labored breathing
Difficulty in breathing
Eye injuries
Vomiting and diarrhea
Prescription medication – Many pet insurance plans cover the eligible costs of prescription medication given to treat a condition that is covered under the policy.
Cancer – Many accident and illness plans cover cancer treatments, as long as it’s not a pre-existing condition.
Surgeries and hospital visits – Surgeries such as an obstruction in the intestines or a bladder stone are usually covered by insurance. Accidental injuries that require surgery, such as a broken leg, can be covered as well.
Specialty care – Including veterinary specialists like
Orthopedists
Oncologists
Internal medicine specialists
Ophthalmologists
Neurologists
Radiologists
Cardiologists
Diagnostic tests – Including X-rays, lab work, MRIs.
This list is not exhaustive, and coverage varies depending on the provider.
Let’s Calculate the Potential Cash Back You Can Get with Pet Insurance
Premiums – On average, pet insurance for dogs cost around $45. For cats, it’s around $30 per month. These figures use an annual coverage of $5000 with a $250 deductible and an 80% reimbursement level.1 The amount can vary depending on the breed and age of the pet, where you live, and the plan you choose. Using these averages as our base rate, you could be paying somewhere around $400 - $550 per year for pet insurance for your pet.
Now let’s look at some scenarios where you would have to spend on vet bills –
Accident – If your pet gets hit by a car, gets injured in a fight, or swallows a toy by mistake, your vet bill here including the medication and the aftercare could easily be upwards of $2,000. Using our example from above, and assuming all of the costs included on the veterinary bills are eligible for reimbursement, you would have to spend $250 (deductible) + (20% of 2000-250) = $600. After reimbursement, your money spent of $600 could have been $2000 without pet insurance.
Illness – Cats and dogs of all breeds are at risk of developing medical conditions. These conditions can include hip dysplasia, patellar luxation, cancer, arthritis, and hundreds of others. Depending on the breed, the probability of developing these conditions may vary. For example, big dog breeds like Saint Bernards, German Shepherds, and Great Danes are prone to hip dysplasia.2 Others like Golden Retrievers, Boxers, and Bernese Mountain dogs are more prone to cancer as compared to other breeds.3
These diseases are not cheap to treat. Including the medication costs, specialist visits, etc. the total cost could go north of $1000 - $5000. Here are some average treatment costs for some common ailments for dogs and cats1 -
Condition | Avg. treatment cost for dogs | Avg. treatment cost for cats |
Cancer | $4500 | $3800 |
Swallowed foreign objects | $3500 | $3500 |
Diabetes | $2800 | $2400 |
Broken Bone | $3000 | $2400 |
Heart Murmur | $1200 | $1500 |
Arthritis | $800 | $500 |
Dental Disease | $600 | $800 |
Bladder Infection | $500 | $1200 |
Eye infections | $400 | $300 |
Kidney disease | $500 per month | $300 per month |
The actual cost may depend on the seriousness of the condition. If you now just calculate the same looking at a vet bill of $8000; assuming all of the costs included on the veterinary bills are eligible for reimbursement, your out-of-pocket expense for a $500 deductible and $10,000 annual limit with a 90% coverage would be $500 (deductible) + 10% of 7500 = $1250. After reimbursement, you could have just recouped a whopping $6850!
How Much Can I Get Back With Spot Pet Insurance?
Your pet care, as mentioned above, won’t stop at just taking care of accidents and illnesses. You’ll need to consider the costs of ongoing treatment for your pet’s covered conditions. Spot pet insurance plans and optional wellness add-ons can help cover the eligible costs of the below items. The benefits and their average costs are:
Alternate therapies – There may be times when your vet may prescribe alternate therapies as treatment, like acupuncture, hydrotherapy and stem cell therapy. These could cost you $30-$500 per session depending on the treatment.
IV fluids - IV fluids maintain your pet's hydration while undergoing surgical or dental procedures.
Exams, surgery, and hospitalization - $50-$300 for exams, $2000-$10,000 for surgeries
Tooth extractions - $50 for non-emergency, $1000-$2000 for surgery
Cancer treatments - $10,000 total chemo cost.
Behavioural issues - $200 - $1000
Microchip implantation - $30 - $60
Hereditary conditions - $700 - $1000 per year
Dental cleanings - $180 - $300
Annual exams - $150 - $300
Deworming $25 - $50
Vaccinations - $20 - $50 each
Spay or neuter surgery - $50 - $500 depending on the type of clinic
Urinalysis - $30
Heartworm and flea prevention - $8 - $20 per month
The costs above are the average costs seen in the US.4 They may vary from state to state. Irrespective of that, you can see the amount of cashback pet insurance can reimburse in the long run.
With a Spot plan, you also have access to a 24/7 pet telehealth helpline so you can connect with a veterinary expert any time for questions about your pet’s health or behavior.
Is Pet Insurance Worth It?
Is pet insurance worth it? It has been observed that 1 in 3 dogs will be affected by an unexpected injury or illness.4 Although we want to do everything we can to help protect our fur babies from harm, accidents or illnesses can strike at any time. Having the right pet insurance plan could help you worry less about the potential thousands of dollars that you may need to spend in case of an unexpected emergency.
Mostly a tech person, always a pet person. I am dedicated to improving the lives of pets and their humans with technology. Off-duty, I enjoy writing about the misbehaving of computer programs and my two Aussiedoodles, Calvin and Hobbes.
”Is Pet Insurance Worth It in 2024?” Forbes Advisor, https://www.forbes.com/advisor/pet-insurance/is-pet-insurance-worth-it/, Aug. 7, 2024.
“Hip Dysplasia in Dogs,” American Kennel Club, https://www.akc.org/expert-advice/health/hip-dysplasia-in-dogs, June 23, 2024.
“Dog Breeds with the Highest Chances...” Forbes Advisor, https://www.forbes.com/advisor/pet-insurance/dog-breeds-highest-risk-health-problems/, Oct. 23, 2024.
“Is Pet Insurance Worth Getting for Your Dog?” Pawlicy Advisor, https://www.pawlicy.com/blog/pet-insurance-for-dogs, accessed Dec. 19, 2024.
