Pet Insurance

Having pet insurance has been gaining popularity among Canadian pet owners in the past few years.

Advancements in veterinary medicine make it possible for our pets to be treated for illnesses that previously may not have been possible, but these new advancements and technologies can be costly. As well, the veterinary bills for pets with chronic health issues will start to add up over time.

Purchasing a pet insurance policy is to help ensure medical decisions are made with the pet’s health and well-being foremost.

What does it cost?

There is no set rate for pet insurance. The premiums and deductible will vary based on your insurance provider and your pet’s species, breed, and age. Premiums may increase if you’re required to use your insurance.

What is covered under pet insurance?

The features of your plan will vary depending on what your provider offers, as well as your budget.

Be aware that some plans will only cover an injury if someone witnessed it, while others might cover any sort of injury regardless of how it happened.

Some plans may only cover your pet until they reach a certain age. You may get a discount on your monthly insurance premiums if your pet is microchipped or spayed/neutered, or if you have multiple pets.

Things to think about

  • Having a larger deductible might give your cheaper monthly premiums, but you will have to pay a larger lump sum in the event of an emergency.

  • Does your provider have a per-claim deductible or an annual deductible?

  • Are there any pre-existing conditions that are not covered? Chronic health/hereditary issues may not be covered, or may only be covered up to a certain amount each year.

  • What is the cap out for payments? Some plans have a maximum dollar amount on what they will cover per visit or per year.

  • Are there certain things your insurance won’t cover because your pet’s breed is prone to that illness or condition? For example, some insurance providers won’t cover joint conditions on large breed dogs.

  • Does your provider direct bill your vet? Or will you need to pay the bill and then seek reimbursement?

  • Routine vet visits aren’t usually covered by insurance, so expect to pay out of pocket for that expense.

  • Alternatively, if you don’t have pet insurance, will your family be able to cope with a sudden large veterinary bill?

Do I have other options?

An alternative to pet insurance is to set up a savings account for your pet. Rather than spending, let’s say $50 a month on pet insurance, you could place that money into a special account for your four-legged family member’s medical emergencies.


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