Yes, I have pet insurance. Let me share how I selected my policy and how you can find the perfect fit for your furry friend.

While driving from our home in the New York suburbs to the Jersey Shore, our 3-year-old cockapoo, Teddy, began to tremble. Initially, I thought he was just anxious, as he'd shake during vet visits or grooming sessions. However, it took mere seconds for me to realize this shaking was different. "Can you pull over?" I urged my husband, Eliot. "Something's not right with him."

That something turned out to be a seizure, the first of many throughout Teddy's 16 years. Although it wasn't life-threatening and did not require medication, we made sure to keep him calm and safe during these episodes. 

That incident made me resolve to buy pet insurance for my next puppy.

Why didn't I get it for Teddy, you might wonder? That's a fair question. I mistakenly thought that since Teddy already had a pre-existing condition, it wouldn’t be worth it. Luckily, aside from a dislocated hip at age 15, which we treated with acupuncture, he stayed relatively healthy. However, I now realize I should have researched more. If he had faced serious issues like cancer or major surgery, I would have gladly paid for treatment. He wasn’t just a pet; he was family. Even with an exclusion for his seizure disorder, insurance would have been worthwhile.

Fast forward to today, pet ownership has transformed, especially with the rise of “COVID puppies.” According to the 2021-2022 Pet Owners Survey, 70% of U.S. households own pets, up from 67% in 2019. Among them, 69% have dogs, 45% have cats, 10% own birds, and about 6% have other small animals. The pet insurance industry is booming too, growing by approximately 24% annually from 2016 to 2020. Most policies cover dogs, with average annual premiums in 2020 reaching $595 for comprehensive coverage and $218 for accident-only plans, as reported by the North American Pet Health Insurance Association.

Recently, I welcomed a new pet into my life. Norman, a 9-week-old, 6-pound cuddle buddy, is another cockapoo, though larger and fluffier than Teddy. We were told he’d be small enough for an under-the-seat airline carrier. At 23 pounds and still growing, that idea has clearly sailed!

Having spent years as a personal finance reporter, I've learned how to shop for and assess everything from credit cards to insurance policies. Given the crowded pet insurance market, I thought sharing my decision-making process could be helpful. Here are the steps I took.

  • Check Eligibility. Some insurers set minimum (around 8 weeks) and maximum (typically around 12 years) age limits for enrollment. Additionally, it’s best for your pet to be healthy at sign-up. Since Norman only needed routine vet visits and vaccinations, these factors weren’t an issue for him.
  • Consider Coverage Limits. Most plans cap payouts between $2,500 and beyond, which wasn't sufficient for my needs. I wasn’t getting insurance for minor issues like ear infections; I wanted coverage for serious conditions like cancer, which could cost $10,000 or more.
  • Know What’s Covered. Generally, pet insurance doesn’t cover wellness visits, spaying/neutering, or dental care, with few exceptions. Maintaining your pet's dental health is crucial, as neglect can lead to significant health problems and costly procedures. Some policies cover hereditary conditions, while others impose waiting periods before coverage begins. Always compare apples to apples.
  • Price Comparison. After clarifying your preferences, it's time to compare different companies. Most insurers provide easy-to-use websites where you can enter your pet's details for a quick quote. You'll need to choose a deductible (which usually resets annually) and a reimbursement percentage (commonly between 60% and 90%). Keep in mind that higher deductibles and lower reimbursement rates will reduce your monthly payments. A piece of advice: Avoid using pet insurance finders that will bombard you with emails later.

Lastly, if you’re like me, you probably know other pet owners. Ask them about their insurance, which provider they chose, and their satisfaction level. That’s how I learned about Sadie, the pandemic puppy my friends Debi and Marc adopted in late 2020. Sadie once ingested a pack of gum, wrappers included, leading to a diagnosis of Xylitol poisoning. She spent two three-day stints in the hospital, and although she recovered, she’ll need liver medication for life. The total bill? $5,428. Thankfully, their insurer covered $4,636 without question. "Now [our daughters] can still go to college," Debi remarked, partly joking.

Sadie’s positive experience made Healthy Paws a strong contender for me.