How much is full coverage pet insurance?

Pet ownership has been on the rise in recent decades, with 70% of American households having a pet, up from 56% in 1988, according to the American Pet Products Association.

But if you want to be a pet parent, you should be prepared for how expensive these companions can be. The average dog owner, for example, spends $4,512 per year on their pet, according to a USA Today Blueprint survey.

Veterinary care can be particularly pricey, especially if your pet has a significant accident or illness.

For example, "a torn ligament will require bloodwork, radiographs, surgery, pain medications, and even physical therapy. Major events like this can cost over $10,000 in total based on where you live," says Dr. Ray Spragley, founder and veterinarian at Zen Dog Veterinary Care. 

One way to reduce this financial risk is to get pet insurance.

"With pet insurance, you can avoid the shock of a major bill or the inability to provide treatment for your pet," says Dr. Spragley. Don't let unexpected vet bills come between you and your pet's well-being. Start by getting a free price quote.

But not all pet insurance plans are the same. Some types of pet insurance provide narrow coverage for a lower price, such as accident-only pet insurance policies. Others, however, provide more of what could be considered full coverage pet insurance.

Find out what your best pet insurance options are online now.

What is full coverage pet insurance?

While full coverage is somewhat subjective, in general, it means that your pet insurance covers a broad spectrum of veterinary care.

"Full coverage would be a plan that covers accidents, illnesses, hereditary conditions, behavioral issues, and even some alternative therapies," explains Dr. Spragley.

"There are also add-ons available such as preventative care coverage to cover vaccines, check-ups, and routine procedures," he adds.

Considering pet insurance? Discover its numerous benefits and get a free quote today or compare the companies on the table below.

Ready to get started? Compare your top pet insurance policy options here.

How much is full coverage pet insurance?

Full coverage pet insurance varies based on factors like reimbursement percentages, deductibles and the specific coverages that an insurer includes. 

For example, some plans might be considered full coverage because they cover accidents, illness, hereditary conditions and behavioral issues, but one might include certain veterinary exam fees, while another might offer this as an optional add-on.

In general, though, accident & illness pet insurance policies cost an average of $640.04 per year for dogs and $387.01 for cats, according to the North American Pet Health Insurance Association (NAPHIA).

In comparison, accident-only plans cost an average of $200.58 per year for dogs and $122.19 per year for cats.

But while you might save a few hundred dollars per year going for less comprehensive pet insurance, if your pet does get sick and needs treatments for things like cancer, gum disease, parasites, etc., then you could end up paying a lot more out of pocket for treatment.

Getting full coverage pet insurance proactively can be particularly important if you want to protect against the cost of hereditary conditions.

"Some breeds are predisposed to certain diseases throughout their lives. Your veterinarian can give you an idea of this, which allows you to have your pet covered by pet insurance — well before the issue they are predisposed to — is to arise," explains Dr. Spragley. "Pet insurance companies will not cover preexisting conditions so you will not be reimbursed if they were diagnosed before the insurance policy was initiated."

How to get inexpensive full coverage pet insurance

To save money while still getting good pet insurance coverage from a reputable pet insurance company, it's better to start your search as soon as possible so you can qualify for lower premiums.

"The best way to save money on pet insurance is to get it when your pet is young, before they have any existing health conditions. It may not seem obvious, but spending a little now will save much more later," says Dr. Doug Mader, an author and retired veterinarian.

"Another way to save some money on premiums is to purchase a policy that has a higher deductible," he adds.

While that might mean you need a larger emergency fund to cover the deductible just in case, it can free up room in your monthly budget while still having comprehensive pet insurance protection.

Similarly, you can adjust levers such as the reimbursement percentage and coverage limits, notes Dr. Spragley. However, this could increase the amount you have to pay out of pocket if your pet gets sick or injured.

Lastly, it's helpful to get quotes, as the specific prices can vary based on factors like your pet's age and breed.

"The best way to find the best deal is to shop around and get comparative quotes, so that you can actually compare apples to apples," says Dr. Mader.

And, whether you end up choosing a comprehensive pet insurance plan or decide on a narrower one like accident-only insurance, it's important to realize that the upfront costs can pay off down the road.

"Pet insurance will never seem like a good deal until there is a very large surprise veterinary bill," says Dr. Spragley.

Thinking about pet insurance? Get a free quote and unveil hidden benefits that could protect your furry friend.