If there’s one thing pet parents can all agree on, it’s that our pets are family. And, when they need us, we want to be there for them.
But the cost of caring for our pets is changing. Like many everyday expenses, veterinary care has become more expensive, and those rising costs can make an already difficult question even harder to answer: How do I make sure my pet gets the care they need while staying within my family’s budget?
At Pets Best, we believe pet parents deserve straightforward answers about what’s driving these changes, how they can affect pet insurance premiums and what options are available when affordability becomes a concern.
Here’s what pet parents should know.
Veterinary medicine is advancing—and that’s good news for our pets
Veterinary medicine has come a remarkably long way. Conditions that once had limited treatment options have far more today. Veterinarians can diagnose diseases earlier, manage some chronic illnesses for longer and offer increasingly sophisticated care—from advanced imaging and specialty medicine to oncology, rehabilitation and new medications.
For pet parents, those advances can mean more options and, in some cases, more time with the pets we love. But progress comes with a complicated reality: having more ways to diagnose and treat our pets doesn’t necessarily make those options easier to afford.
This tension between what veterinary medicine can do and what families can afford is not new to Pets Best. In fact, it goes back to why our company exists.
In the 1980s, Pets Best founder and veterinarian, Dr. Jack Stephens, was inspired to create pet health insurance after witnessing a family make the heartbreaking decision to euthanize their dog because they could not afford the veterinary care it needed. He went on to found Pets Best in 2005, and more than 20 years later, veterinary medicine has advanced in ways Dr. Stephens could hardly have imagined. But the mission that inspired him remains at the heart of what we do: helping pet parents be financially prepared for the care their pets may need.
Today, more treatment options can also mean more decisions for pet parents, including whether to pursue advanced diagnostics, see a specialist, or continue treatment over time. And as the cost and use of veterinary care change, those trends can also affect the cost of pet insurance.
Why do pet insurance premiums change?
Pet insurance premiums reflect the cost and frequency of the veterinary care insurers expect to cover. That means changes in how pets use veterinary care, the types of treatment available and the costs of that care can all influence the cost of coverage.
Insurers look at broader trends, including how frequently pets need care, the types of conditions being treated and how much that treatment costs.
Other factors can matter, too. Veterinary costs vary across the country, so where you live can affect your premium. And as pets get older, they may be more likely to need veterinary care, which can also be reflected in pricing.
The important thing to understand is that advances in veterinary medicine and the rising cost of care are closely connected. We want pets to have access to more options when they need care, but those options can come with significant and sometimes unpredictable costs. Pet insurance is designed to help provide financial protection when unexpected veterinary expenses arise so that you can focus on caring for your pet when they need you most.
What can pet parents do as veterinary costs rise?
Start by thinking about what you could realistically afford if your pet suddenly needed thousands of dollars in veterinary care. An emergency fund can be an important part of preparing for unexpected pet expenses, whether you have pet insurance or not. But it’s also worth considering how much of a large, unexpected veterinary bill you would be comfortable taking on yourself.
If the cost of your pet insurance becomes a concern, consider exploring your options before giving up coverage altogether. Depending on your policy, adjusting your deductible, reimbursement percentage or annual limit may help you find a balance between the protection you want and what works for your budget.
Insurance is deeply personal. At its core, it’s about deciding how much financial risk you’re comfortable taking on yourself. There is no single coverage level that is right for every family. Some pet parents are comfortable taking on more out-of-pocket costs in exchange for a lower monthly premium. Others would rather pay more each month for greater financial protection if their pet needs expensive care.
As pet parents, we can plan for the predictable costs of having a pet: food, grooming, routine care and other predictable pet expenses. What’s much harder to plan for is an emergency surgery, an unexpected diagnosis, an accident or an illness requiring ongoing treatment. Insurance allows you to transfer some of that financial risk rather than carrying all of it yourself.
Pet insurance isn't designed to make veterinary care completely free. It's designed to help make those unpredictable financial risks more manageable.
Make sure you’re using the benefits you already have
For Pets Best customers, managing the cost of pet care also means understanding the resources already included with coverage.
Our 24/7 Pet Helpline is available to policyholders at no additional cost, connecting you with veterinary experts who can answer questions about your pet’s health, behavior and well-being. And you don’t have to wait until something is wrong to use it. The Helpline can also be a resource for everyday pet-care questions, from nutrition and preventive care to dental health, vaccinations and questions that come up between veterinary appointments. It isn’t a substitute for your veterinarian, but it can provide helpful guidance when you’re trying to make an informed decision about your pet’s care.
Our Vet Direct Pay program can also help eligible policyholders manage the upfront financial burden of covered veterinary care by allowing Pets Best to pay the veterinarian directly, subject to program and policy terms.
These resources are part of your Pets Best coverage, and we want you to know they’re there—and how to use them.
Looking ahead
Veterinary medicine will continue to evolve. We’ll continue to see new treatments, new technology and new possibilities for helping our pets live healthier lives. And the cost of providing that care will continue to evolve, too.
At Pets Best, we’ve now spent more than 20 years helping pet parents prepare for the unexpected, with more than 1 million pets enrolled and more than $1.3 billion in covered claims. But those numbers aren't what matter most. What matters is what they represent: pet parents who have turned to us during moments when their pets needed care.
As veterinary care continues to change, being prepared means understanding your options, knowing what your coverage does and doesn’t include, and choosing a level of protection that makes sense for your family and your budget. Pets Best was founded on a simple, but powerful idea: pet parents should have the ability to pursue the care their pets need without having to carry the full financial burden of an unexpected veterinary bill. That belief remains at the heart of what we do today.
Our commitment is to be here alongside pet parents—continuing to help them prepare for the unexpected and make informed decisions about the protection that makes sense for their families.