Pet insurance for puppies

Pet insurance is like any insurance: it's there to help with any bills you might otherwise struggle to pay. In the case of pet insurance for your puppy, these are vet bills, which can easily run into tens of thousands of dollars.

Pet insurance is simple. You pay a monthly premium and, if your puppy needs veterinary care covered by your plan, your provider pays for it minus any co-pay or deductible. Some plans require you to pay the vet, with the provider reimbursing you, but others pay the vet directly. There are three basic types of pet insurance:

• Accident and Illness - the most popular and comprehensive
• Routine Wellness - for preventative treatments like annual vaccinations
• Emergency - for immediately life-threatening situations

The short answer is 'yes'. Over a dog's life, you can expect to spend around $16,600 on vet care alone. Treatment for some conditions, like cancer or a broken hip, can easily exceed $10,000 - and 61% of Americans don't have enough savings to cover a $1,000 emergency bill. If you can't pay, the heart-breaking alternative is often your beloved puppy being put to sleep when it might have lived a long and happy life. Insuring your pup is a smart financial move that also gives you peace of mind.

This depends on several factors, including where you live, your puppy's breed, and their age - which is why it's important to compare quotes. On average, pet insurance costs around $40 per month but you can find premiums for as little as $20 per month - that's less than 70¢ a day.

Pet insurance plans usually come with a deductible, which is the first amount you're responsible for before the insurance kicks in. Most insurers have an annual deductible, meaning it resets every 12 months. If you choose a $250 deductible (most popular) this means you'll pay the first $250 per year before the insurance begins.

Generally, the higher the deductible you choose the less you'll pay monthly for your pet's insurance. But if you choose a lower the deductible you'll usually pay a little more each month for your insurance.

Most insurers offer a $100, $250 or $500 deductible, but there are some plans that come with a $0 deductible, which some pet parents prefer as it helps to avoid large unexpected bills.

All pet insurance providers are different - another reason to compare quotes and check the details of each plan - but here are some things that are covered by most accident and illness plans:

• Accidents - e.g. poisoning, bite wounds, sprains, ACL ruptures
• Regular illnesses - e.g. ear infections, vomiting
• Serious illnesses - e.g. cancer, heart disease
• Chronic illnesses - e.g. allergies, arthritis, skin conditions
• Hereditary conditions - e.g. hip dysplasia, epilepsy
• Congenital conditions - e.g. eye or limb defects
• Imaging - e.g. X-rays, MRIs, CT scans
• Diagnostics - e.g. ultrasounds, blood tests
• Surgery - including anaesthetic, vet-prescribed drugs and follow-up consultations

You should get pet insurance as soon as possible for your puppy. The younger your pet is, the cheaper they are to insure. They're also less likely to have pre-existing conditions, which are excluded from nearly all plans, and the sooner you get pet insurance, the less chance there is of them needing treatment while they're not covered.