Pet insurance: is it worth it?

Now to an ABC 15 Consumer Alerts. You have insurance for health care, your car and also your house. But what about your pet? Pet insurance has surged in popularity in recent years. Want to show you the numbers I found overnight. I spoke to the pros at Nerd Wallet who told me nearly a quarter of all pet owners across the US, 24% currently have some kind of pet insurance policy, but it is not cheap. Look at this. It costs pet owners on average slightly over $1200 a year, which adds up to give or take about $100 a month. I could tell you from personal experience that's on the low end. If you have a senior pet, it can be a lot more expensive. A lot of different factors can also influence how much you pay. Basic things like your deductible reimbursement rates, dog breed and age impact that. But Nerd Wallet contributor Kaz Weta says there are some things you can do to cut down on costs, and it starts with really thinking about what you need the most. I think one of the real affordable ways to kind of cut back on the cost of those premiums is to pick a plan that reflects what you can afford. So when we're looking at costs for accident and illness coverage, your plan, let's say the average cost for dog would be about $750.00. A year, but if you're looking at accident only coverage that's going to cost you about $193.00 a year. Huge difference. So if you can't afford accident and illness coverage, cutting back and just saying, OK, this is for emergencies. I'm going to go with accident coverage and just, you know, worst case scenario. At least I'll have some sort of safety net there. Also, I found this out when I bought Larry's policy. Most policies don't pay for routine care and vaccinations and teeth cleanings, things like that, and many also don't cover pre existing conditions. So make sure you're reading the fine print so that you don't have to pay a whole lot more in the long run. Great advice and good insight. Thank you. Keeping our furry friends safe and healthy.