Pet insurance pays for some medical care. You can get basic or supreme policies. Supreme Policies cover vaccines, routine pet care exams, and even medications. My insurance for my two cats is about $25.00 per month per cat. It has deductibles, just like health insurance for people, and it does not reimburse 100% of the medical expenses. It absorbs some of the costs, not all.
Insurance is a gamble, because if you don’t need medical care very often, then it cost more to have than what you would pay out of pocket over the life of the animal. But, if your pet requires significant care, or develops problems later in its senior years, insurance can pay off, especially if you can’t afford a medical procedure and have to make the choice of putting the animal down.
For one, I am glad I have it. After I got it, one of my kittens turned out to have a genetic heart condition, which the ultra sounds he needs on a routine basis cost about $400.00 a pop. If I had tried to get insurance after his diagnosis, they would not even consider covering him because of the ‘preexisting condition’.
I don’t think it is worth it unless you choose the better coverage. Just be prepared for copying all of your pets medical records and keeping a well organized file at home.
Also, not all pet insurance companies are the same. You need to check out all companies reputations. I use VIP Pet Insurance. Some are comparable to auto insurance, while others are comparable to human health insurance. Some are not reputable at all. So if you are considering pet insurance, ask your vet if they know of a reputable insurance, or check and see how long they have been in business and ask the companies to send you info on their policies before signing up with anyone.