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Whether you’re a new pet parent or not, it's important to consider how to care for your furry family member's health. Veterinary bills are a likely part of owning a pet and the cost of owning a cat or dog can be high. As such, pet parents may be seeking ways to save money without compromising their pet’s health.
Let’s discuss the potential benefits of having pet insurance and how a MetLife Pet policy may help you protect your pets.
Your primary concern is likely what’s best for your pet’s health. If money weren’t an object, pet parents might spend as much as they could afford on their pet’s health, but budgets usually don’t permit this. A pet insurance policy can potentially help with this dilemma.
Pet insurance policies have the ability to help cover things from basic wellness checks and major surgeries to supplements for chronic conditions.
Our pets bring us joy and keep us smiling during hard times. Pet parents want to return the favor when their furry family members become ill, grow old, or get injured. Sadly, 56% of American pet parents can’t afford an unexpected vet visit.1 A pet insurance policy might help by ensuring that you can recoup some — if not all — of a covered and approved vet bill.
Pet insurance can be worth it because it can potentially be a tool for helping you manage your household budget. In 2022, the average pet owner spent just under $1,500 a year to care for their pet, with vet care being the biggest expense after food and treats.2 The amount you spend could easily exceed $1,500 if your pet has an injury or requires ongoing medical care.
Choose from various plans with monthly premiums as low as $15 per month for dogs and $9 monthly for cats.3 You can also add a wellness package to help cover the cost of routine care and preventive medications like teeth cleaning and vaccinations.4
You can also choose from several options for your annual limit, deductible, and reimbursement percentage. In general, the lower your annual limit or reimbursement amount, the lower your premium, while a lower deductible can increase premiums. There are options available that can fit your family’s needs.
The way pet insurance works can be very different from insurance for humans. With pet insurance, you’re able to go to any licensed vet in the country without worrying about your claims being denied because they aren’t in-network. An added benefit of this is that you can bring your pet on your domestic travels knowing you can use any licensed emergency vet.
Pre-existing conditions, like arthritis, won't keep your pet from qualifying for pet insurance, but policies won't cover expenses related to these conditions. Getting a policy while your pet is young may help you save money on any claims related to conditions that develop or show symptoms after the waiting period in your policy has ended. This can include injuries or illnesses, as well as age-related conditions, like diabetes or skin disorders.
The cost of owning a cat or a dog can add up quickly. For example, a cat’s heartworm, flea, and tick preventative can be roughly $140, if not more. The same medication for a dog can cost around $185 or more per year.5
Pet parents typically don’t skip these medications just because their pets are uninsured, but it can hurt to see that money go out the door. Medications for heartworms, fleas, skin conditions, or other prescriptions can be reimbursed under the right plan. With a pet insurance policy, you could see some of that money returned back to your wallet where it belongs.
At the end of 2021, 4.4 million American pets were covered by insurance according to the North American Pet Health Insurance Association (NAPHIA).6 The benefits of pet insurance can add up, so here’s what makes MetLife Pet different from other pet insurance companies:
Ready to join the pet parents with pet insurance? A pet insurance policy can help you protect your bank account, grant you peace of mind, and – most importantly – keep your pet healthy.
At MetLife Pet Insurance, winner of the “Pet Insurance of the Year” Award,8 we’re committed to helping you keep your pets happy and healthy, whether that means learning all there is to know about your pets or protecting them with an insurance policy. Get started today with a free quote!
1 “Access to Veterinary Care: Barriers, Current Practices, and Public Policy”, Access to Veterinary Care Coalition, page 17
2 National Pet Owners Survey, American Pet Products Association, 2022
3 Calculation based upon select plans and coverages. Actual rates may vary based on pet age, breed, location, deductible, reimbursement rate, and annual limits you choose.
4 For IAIC policies, optional Preventive Care coverage is based on a Schedule of Benefits. For MetGen policies, optional Preventive Care coverage is included in the annual limit.
5 "Cutting Pet Care Costs", ASPCA
6 “Total Pet Insured,” North American Pet Health Insurance Association, Last Accessed 2023
7 Accident and optional Preventive Care coverage begins on midnight EST of the effective day of your policy is compared to a wait time of 2 to 15 days for many competitors; Illness coverage begins 14 days from the effective day of your policy compared to 14 to 30 days for many competitors. Competitive information is based on a January 2022 review of publicly available summary information. Competitors did not furnish copies of their policies for review. If you have questions about a particular competitor's policy or coverage, please contact them or their representative directly.
8 “2022 Pet Insurance of the Year Award” Winners, Pet Independent Innovation Awards
Coverage issued by Metropolitan General Insurance Company (“MetGen”), a Rhode Island insurance company, headquartered at 700 Quaker Lane, Warwick, RI 02886, and Independence American Insurance Company (“IAIC”), a Delaware insurance company, headquartered at 11333 N Scottsdale Rd, Ste 160, Scottsdale, AZ 85454. Coverage subject to restrictions, exclusions and limitations and application is subject to underwriting review. See policy or contact MetLife Pet Insurance Solutions LLC (“MetLife Pet”) for complete details. MetLife Pet is the policy administrator. The entity may operate under an alternate, assumed, or fictitious name in certain jurisdictions, including MetLife Pet Insurance Services LLC (New York and Minnesota) and MetLife Pet Insurance Solutions Agency LLC (Illinois).