Introduction to Pet Insurance
On December 15, 2025, Embrace Pet Insurance, a leader in the pet insurance industry, announced that it had surpassed the billion-dollar threshold in claims paid out. This milestone is a significant achievement, but it also highlights the vital role that pet insurance plays in helping pet families cover the cost of veterinary care. According to Scott Stice, the company’s president, "It represents thousands of moments when pet families were able to say yes to care and avoid the unthinkable."
The Importance of Pet Insurance
The reality is that veterinary care can be expensive, and many pet owners are not prepared for the cost of unexpected illnesses or injuries. In fact, less than 6% of dogs in the US are covered by pet insurance. However, the number of dogs and cats insured has been steadily rising over the past five years. Pet insurance is often seen as a luxury expense, but it is essential to have a plan in place in case the worst happens. The cost of living crisis has led to an increase in the price of pet care, making it even more crucial to have insurance.
The Risks of Not Having Pet Insurance
Many pet owners fall into the trap of thinking that they can save money by not purchasing pet insurance and instead putting it into a savings account. However, this approach can be risky, as most people’s pet accounts won’t have enough balance to cover the cost of unexpected veterinary care. In fact, the largest claim covered by Embrace Pet Insurance was over $48,000 for a toy-sized mixed breed treated for aspiration pneumonia and heart disease. Without insurance, many pet owners are forced to make difficult decisions about their pet’s care, which can lead to anger and frustration.
Choosing the Right Pet Insurance
With so many pet insurance companies out there, it can be overwhelming to choose the right one. Here are some top tips to consider:
Price
Many companies offer low premiums for the first year, but these can increase significantly in subsequent years or after a claim is made.
Length of Cover
Most companies cover a condition or illness for a period of 12 months, but not all provide cover for the life of your pet. Lifetime policies are more expensive, but they can provide peace of mind for pet owners.
Amount of Coverage Provided
Check how much the company pays out per condition or per year. Some companies set a maximum amount per condition total, while others restart the amount each year.
Pre-existing Conditions
When you get your pet insured or change to a different insurer, any pre-existing conditions will usually be excluded. It’s best to take out a policy as soon as possible and check with your vet if you’re thinking about changing companies.
Waiting Period
Most insurance companies have a waiting period for coverage, usually around 7-21 days after the policy is taken out. Don’t wait until you notice a problem with your pet to take out a policy.
Conclusion
Pet insurance is an essential accompaniment to pet ownership, and it’s crucial to choose the right policy for your pet’s needs. By considering the factors mentioned above and doing your research, you can ensure that your pet receives the best possible care without breaking the bank. Remember, pet insurance is not a luxury item, but a necessary expense that can provide peace of mind and financial protection for you and your pet. With the right policy, you can say yes to care and avoid the unthinkable, giving your pet the best possible chance of a happy and healthy life.