When Should I Buy Pet Insurance?

pet insurance protects your furry friends in a health emergency

Pet insurance is a solid option to protect your pets in the event of a health emergency. Unlike human health insurance, pet insurance is only for health emergencies and unforeseen circumstances. Its cost depends on many factors, like the coverage, type of pet, breed, age, etc. Understanding how pet insurance is priced can help you better estimate the best time to buy a policy. Read on to learn more about your options.  

Cost of Pet Insurance

There are certain categories that influence the cost of pet insurance that you need to be aware of: annual deductible, annual maximum, and reimbursement level, and the monthly premium. 

Annual Deductible

The annual deductible is the amount of money you must pay first before the insurance plan starts covering the costs. 

Annual Maximum

The annual maximum is the maximum amount of costs your insurance company will cover each year. After you meet your annual maximum, you will be responsible for all costs. 

Reimbursement Level

The reimbursement level is the percentage of costs your insurance company will cover. For example, most companies cover between 50-100% of costs. 

Monthly Premium

The monthly premium is the amount of money you are expected to pay each month for your plan. Depending on your pet, your monthly premium can cost anywhere between $10-$70. For example, dogs cost more per month than cats. In 2020, the average monthly premium was $42.45 for dogs and $20.99 for cats. Males, larger pets, and older pets typically have higher premiums. Your premium is also affected by your location and zip code. 

When to Buy Pet Insurance

While you can buy pet insurance at any time, there are certain times where buying can save you the most money. Buying a policy when you first get your pet is the first step. Policies are the least expensive the younger your pet is, so buying as soon as you get your pet makes the most sense. If you miss your chance, you don’t have to worry. There are other times that buying pet insurance can save you money. 

Summer and winter are the two best times to buy pet insurance. Your pet is particularly at risk for unexpected health concerns during these seasons. Summer presents multiple health risks: overheating, bites and stings from animals and insects, and toxic plants, just to name a few. Winter also presents unique health risks, like side effects from the cold. 


Understanding when to buy your pet insurance is just the first step. Call us at Redwood Agency to get started today!