Is Pet Insurance Worth It in 2026? What the Data Shows
Key takeaways
- Vet costs are up 43% since 2021, making pet care much more expensive.
- Pet insurance has clear benefits: 3 in 4 owners report significantly lower vet costs, and 84% recommend it, according to survey data.
- Whether pet insurance is worth it depends on your budget, since you’ll pay monthly premiums and some out-of-pocket costs.
No pet owner wants to consider the worst-case scenarios that can take place when caring for a furry family member. But if your four-footed loved one gets bitten, breaks a bone or contracts a disease, it’s best to be prepared.
The cost of veterinary care has jumped roughly 43% from January 2021 to January 2026, according to data from the Department of Labor. To help cope with those rising expenses — and protect wallets and emotions from the stress of a surprise vet bill — more people are turning to pet insurance.
For many, it's paying off. Owners with pet insurance have been able to save money and enjoy peace of mind, according to a recent survey of 1,590 U.S. dog and cat owners published by Money.com and Healthy Paws Pet Insurance.
“Pet insurance can absolutely be worth it, especially when you think about the moments that people hope never happen,” says Dr. Parva Bezrutczyk, a veterinarian who owns Arizona Animal Wellness Center and is president of the American Animal Hospital Association. “If your pet is sick or injured, the last thing you want is to feel torn between what they need and what you can afford.”
Pet insurance offers protection as vet bills soar
Medical care for a pet can take a major bite out of your savings. Roughly 29% of pet owners said they spent at least $100 monthly on veterinary care, while 16% reported spending $100 or more on medications and supplements, according to the survey.
Healthy Paws Pet Insurance’s claims data shows the typical vet bill has climbed steadily as of late, reaching about $392 per claim in 2025 — a 32% increase from 2020.
Pet insurance can help keep costs manageable and put owners at ease. Fully 3 in 4 survey respondents who have pet insurance said this coverage has “significantly reduced” their out-of-pocket veterinary expenses. The vast majority (87%) reported that it has provided peace of mind when it comes to their pet's health, and another 84% would recommend pet insurance to other pet owners.
Should you get pet insurance?
Whether to get pet insurance depends on your financial situation and preferences.
“Some owners might prefer to set aside savings while others might value predictability and the protection that insurance offers,” Bezrutczyk says.
Pet insurance doesn’t eliminate all pet health care costs, since plans typically don’t cover routine visits and vaccines. Plus, it’s an extra regular expense: Premiums add up to around $62 per month for dogs and $32 for cats, on average, according to the North American Pet Health Insurance Association (NAPHIA). Most plans also require deductibles or copayments, which means you’ll have to foot the bill for at least some out-of-pocket expenses before insurance kicks in.
But Bezrutczyk says that when a pet becomes ill or injured, families often need to make decisions very quickly. Insurance can give them the freedom to say “yes” to advanced diagnostic surgery and other urgent treatments without financial strain.
Healthy Paws has your furbaby covered!
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