$1 Billion in Pet Insurance Claims – Can You Afford Not to Be Insured?

On December 15, 2025, Embrace Pet Insurance coverage, one of many leaders within the pet insurance coverage business, introduced that Juju, a 9-year-old mixed-breed canine with a torn cruciate ligament, formally pushed Embrace previous the billion-dollar threshold. Though justifiably happy with the achievement, the corporate’s president, Scott Stice, needed to make use of the second to focus on the important position performed by pet insurance coverage.

“It represents hundreds of moments when pet households had been in a position to say sure to care and keep away from the unthinkable,” mentioned Scott. “We’re proud to play a task in serving to pets get the care they want and in shaping what assist ought to seem like for at this time’s pet households.“

Nevertheless it additionally appears that Scott would possibly have to test his figures, as we’re not simply speaking about hundreds of pet households, however a staggering 6.6 million claims because the firm launched in 2003. The most important declare they ever coated? A toy-sized blended breed handled for aspiration pneumonia and coronary heart illness in 2023, with a whopping whole invoice of over $48,000!

Dog surgery — Picture Credit score: Olimpik, Shutterstock

With the price of residing disaster being felt world wide, the worth of taking care of a pet has risen together with every part else (other than our salaries!), and now, greater than ever, it’s important to have a plan in place in case the worst occurs. Sadly, pet insurance is commonly seen as a “luxurious” expense, and less than 6% of dogs in the US are covered. Nevertheless, the variety of each canines and cats insured has been steadily rising over the previous 5 years.

The entice that many pet house owners fall into is the romanticised notion that, as an alternative of forking out for pet insurance coverage premiums every month, they’ll put that cash right into a financial savings account for use if and when wanted. The difficulty is that whereas most pet insurance coverage firms can pay out for a $10,000 vet invoice after only a few weeks or months of beginning a coverage, most individuals’s pet accounts received’t have that kind of stability for years, if ever.

There are only a few of us who may afford to cowl the prices of an intensive medical situation or complicated surgical procedure, one thing that always results in anger and frustration, which invariably will get directed in the direction of veterinary workers. $1 billion in claims doesn’t imply that 94% of uninsured canines price their house owners $16 billion in vet charges, however it does indicate that there’s prone to have been a considerable quantity that missed out on receiving the very best care due to monetary constraints.

The veterinary business is certainly value billions of {dollars}, however it’s an business that none of us would care to be with out. The truth is that good coaching, gear, workers, and drugs all price cash, and as the price of residing goes up for us, it does for veterinary hospitals too. Pet insurance coverage shouldn’t be seen as a luxurious merchandise, however one that’s a vital accompaniment to pet possession. However, like with most issues, you do get what you pay for, and never all pet insurance coverage firms had been created equal, so it actually does pay to do your homework.

Veterinary Surgeon Treating Dog In Surgery — Picture Credit score: VP Picture Studio, Shutterstock

Listed here are our prime suggestions for selecting pet insurance coverage:

Don’t purchase the primary coverage you see. Take time to sit down and browse the superb print, paying shut consideration to:

Value

Many firms will supply invitingly low premiums for the primary 12 months, however these will usually improve considerably in subsequent years or upon getting made a declare.

Size of Cowl

Most firms cowl a situation or sickness for a interval of 12 months, however not all present cowl for the lifetime of your pet. Lifetime insurance policies are costlier, but when your pet develops a long-term situation or an issue that comes again later in life, will probably be value it!

Quantity of Protection Offered

Verify how a lot the corporate pays out per situation, or per 12 months. Some will set a most quantity per situation whole, whereas others will restart the quantity every year.

Pre-existing Circumstances

While you get your pet insured or change to a unique insurer, ANY situation which has been famous in your pet’s historical past will normally be excluded, even when it didn’t require remedy on the time, so it’s finest to take out a coverage as quickly as doable, and test along with your vet in case you’re interested by altering firms.

Ready Interval

Most insurance coverage firms have a ready interval for protection, round 7-21 days after the coverage is taken out. Don’t wait till you discover an issue along with your pet to take out a coverage, and please don’t ask your vet to maintain something out of your pet’s information! The perfect time to insure your pet is the day you’re taking them dwelling, if not earlier than.

Discuss to mates, household, and your veterinary group to seek out out who they’d suggest (or NOT suggest!), and do not forget that in case your four-legged pal finds themselves needing emergency care, it’s an enormous reduction to know that no less than the charges are taken care of.

Characteristic Picture Credit score: Yta23, Shutterstock