Americans spent more than $39 billion on veterinary care and products in 2024, and that number continues to climb. With veterinary bills skyrocketing, pet insurance has become a quickly growing trend in pet care.
“Pet insurance is so huge right now,” said Bobbi Wilson of Peace Love Paws Pet Sitters. The cost of everything continues to rise, including veterinary care. Over the past ten years, veterinary costs in the U.S. have increased by more than 60 percent, according to the Independent Veterinary Practitioners Association. Even low-cost clinics have been forced to raise their prices due to inflation. But pet insurance can help give pet owners a safety net so they have backup coverage for veterinary costs.
“Five years ago, we didn’t really have clients who had pet insurance. It wasn’t anything people talked about, and now we are starting to have clients asking about it,” Wilson said. “It is definitely trending.” Insurance Journal reported that in the U.S. alone, the total value of pet insurance is currently more than $4 billion — and it’s rising every year. According to NerdWallet, the average pet insurance cost is about $62 per month for dogs and $32 per month for cats for the most common type of policy.
While some people in the pet industry are finding pet insurance to be trending, others have different opinions.
“Pet insurance has increased in popularity, but it is definitely not popular,” said Dr. Christy Fischer, veterinarian at All Creatures Animal Hospital in west Columbia. “We have maybe ten to twenty clients who use it out of 1,000 active clients.” She thinks that one advantage of having pet insurance is that insured pet owners are often more willing for their pets to undergo diagnostic tests, rather than holding off on incurring that cost until a problem arises.
Most vet practices, including All Creatures, don’t file pet insurance claims for pet owners. Instead, they simply provide any requested records to the pet insurance company. While All Creatures doesn’t advertise pet insurance, new clients are sent home with a welcome packet that has brochures about some pet insurance options.
Buyer Awareness Is Key
While veterinary costs and interest in pet insurance are on the rise, finding an insurance broker in Columbia that offers pet insurance policies can be difficult. Gioia Baysinger of Columbia had pet insurance offered through her job for six months before realizing that her veterinarian did not accept it.
“Looking into it further, it was a vet discount program and not necessarily insurance. However, it did cover most things that insurance would cover, with the difference being that it’s not accepted everywhere,” she said.
Baysinger signed up for Pet Assure during open enrollment with her job. On the Pet Assure app, it said that her veterinarian accepted the plan. However, when she called her vet to confirm this, they said they hadn’t taken it for years.
“There was really just a lack of accurate information,” she explained, adding that pet insurance should be more widely offered and accepted.
Online, there are many different options for pet insurance, such as Lemonade, Trupanion, Wagmo, and more. Plans vary according to the type of coverage you’re seeking, the age and breed of your pet, and other factors, such as preexisting conditions.
Along with insurance, there are pet wellness plans that serve as a reimbursement program for annual visits and exams for your pet. Pet wellness plans typically do not require you to use an approved or preferred veterinarian. On the other hand, pet insurance can cover more unexpected or emergency costs than a wellness plan does.
Before committing to a pet insurance plan, call your preferred veterinarian and confirm that they accept the insurance you’re considering. Many veterinary offices have information about pet insurance if asked. A quick conversation with your veterinarian could save you time and money, ensuring your pet gets the care it needs.
Beyond taking care of a pet’s medical needs, Bobbi Wilson is passionate about educating pet owners for being “pet prepared” in case of emergencies and natural disasters. She emphasized the following six points:
- Make sure your pet is microchipped. This practice makes it 50 percent more likely that a lost pet can be reunited with its owner. It’s free to scan for a microchip at a veterinary office.
- Maintain updated information on your pet. This includes photos, rabies certificates, and details on their emergency needs, such as medications, health concerns, and anything about your pet that someone would need to know. It is important to keep this information easily accessible.
- Have at least two designated people who are going to take care of your pet if you die.
- Have at least a two-week supply of food and medication on hand at all times and keep it where it can be easily found.
- Practice disaster plans (for tornadoes, fires, etc.) with your family, and be sure to include your pet in them as well.
- Have an emergency kit. An emergency kit for a pet is almost the same as what a human needs, like medications and identification.
