US explains how to choose between pet insurance and savings — MarketWatch
In the United States, pet owners are advised to compare insurance with a separate savings reserve for veterinary expenses, taking into account the pet’s health condition, policy terms and their own ability to pay for sudden costly treatment. According to MarketWatch, the average monthly insurance premium is $70 for dogs and $36 for cats.
According to the American Veterinary Medical Association, the average household spent $560 on veterinary care in 2025. Emergency care bills can reach thousands of dollars, said the association’s president and veterinarian, Jennifer Quammen.
What to check in a policy
Quammen emphasized that insurance does not make treatment cheaper but distributes financial risk differently. A pet’s breed, age and medical history affect the cost and suitability of a policy. Some breeds are predisposed to heart or orthopedic problems, the treatment of which can be expensive.
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Owners should clarify the list of covered services: conditions that existed before the policy was taken out, including arthritis or diabetes, are often not reimbursed. A policy may also not cover annual checkups, vaccinations or dental cleaning. In most cases, the owner first pays for veterinary services independently and then applies to the insurer for reimbursement.
When to build a reserve
Insurance can provide greater protection for owners for whom a large unexpected bill could lead to debt or limit their ability to pay for necessary care. Quammen advised people with puppies or kittens to consider insurance, as young animals are less likely to have conditions insurers consider pre-existing.
A separate savings account may be an alternative. Bookstore owner Nicole Higginbotham and her husband Luke canceled their policies after receiving a small reimbursement on a $1,700 bill for treating two dogs and began setting aside $65 each month. Their reserve grew to $3,171, of which $246 was accrued interest. At the same time, Quammen warned that an emergency could arise before an owner has managed to save enough.
