These types of owners may need pet insurance

Not every financial product and service is worth getting, particularly in today's economy. With prices high for everything from food to veterinary care, consumers need to be judicious with how much they spend and what they spend it on. This is especially true for pet owners, who are already used to paying extra for items like medical care, boarding and grooming. So it's understandable if they're leery about paying for pet insurance, too.

That said, pet insurance is often a valuable and cost-effective way to protect both your pet and your bank account. In exchange for a moderate fee to a provider each month (often discounted if paid annually), pet owners can get coverage for a wide range of ailments and treatments. Depending on the policy and the provider, they may be able to secure coverage for some unconventional items, too. 

Still, pet insurance, just like any other product, isn't for everyone. There are some specific types of pet owners that could benefit more from a policy than others. If you own a cat or dog, it helps to know which category you fall into.

If you're considering pet insurance, start by getting a free price quote now.

These types of pet owners may need pet insurance

Pet insurance can be helpful for a wide array of pet owners. These three specific types, however, may find it more beneficial than others.

Owners of young pets

Most people love a puppy or kitten. What's not as lovable? The pricey bills that come with owning a new pet.

Owners of new pets pay an average of $1,904 for cats and $3,221 for dogs during the first 12 months they have them, according to the ASPCA. Multiple wellness visits, vaccinations and neutering are just some of the things pet owners can expect to pay for in the first year they have their furry friend. Pet insurance can help reduce these costs. 

Pet insurance covers a multitude of issues. But there are other benefits of getting pet insurance for young pets. The cost is generally the cheapest it ever will be (since young pets are inherently healthier), and the coverage options are more comprehensive (as your pet ages, pet insurance companies generally limit what they offer).

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Owners of certain breeds

Certain breeds of dogs and cats are more predisposed to health issues than others. So if you own one of these breeds, chances are high you'll be spending more time in a veterinarian's waiting room than other pet owners. In these circumstances, it can help to have pet insurance to alleviate some of your pet's medical bills.

For example, a German Shepherd dog is more likely to need a medical procedure for hip dysplasia than most other breeds. English bulldogs, Frenchies and many other "flat-faced" dogs are prone to suffer from Brachycephalic Airway Obstruction Syndrome (BAOS), which makes breathing difficult. Persian cats, meanwhile, are known to develop vision issues such as cherry eye.

This isn't to say you should avoid these breeds, just be aware that they tend to cost more to keep healthy. If you own one of these pets or plan to in the future, be sure to check out your pet insurance options. Your veterinarian can also help you build a tailored coverage plan.

Dog owners

Just like some breeds have more health issues than others, some types of animals encounter more health issues than others. Such is the case when comparing dogs to cats. For a wide variety of reasons, dogs are typically less healthy and have shorter lifespans than their feline counterparts. Because of this, they tend to need more care and more medicine, more often, to support them in between trips to the vet.

"Most adult cats are going to range from 8 to 20 pounds, which means lower costs for medications when compared to size ranges in dogs from 1 to 160 pounds," Dr. Cherice Roth, Chief Veterinary Officer at Fuzzy, a telemedicine provider for pets," recently explained to CBS News.

So if you're one of the millions of dog owners in the country, it may make sense to get your pup insured now before you get stuck with any additional big bills.

Start with a customized price quote here.

The bottom line

While pet insurance can be a smart protection to have for all owners, it's particularly advantageous (and some would say critical) for others. If you own a young puppy or kitten, have a specific breed, are the parent of a dog or fall into all three categories, pet insurance may make sense for you. Yes, in today's economy, it helps to be careful about how you spend your money, but if you fall into these groups, pet insurance may provide some much-needed help.