6 Ways to Reduce Pet Insurance Premiums


Pet insurance is expensive. Paying the premium every month is like paying for another car. It isn't easy to justify. Sometimes you can get a good deal and other times, not so much. Why is it so variable?

If you think about it, most pet insurance plans are the same, i.e., a lottery that doesn't favor the consumer. Why? They have been around for a while and have paid out on claims to understand the risk they are taking. Also, there is little incentive to keep costs low since they sell in volume.

two dogs and two cats

There are six tried and true methods for making sure you're getting the best deal possible when it comes to pet insurance premiums which include:

1. Select Your Pet Breed Carefully. Some Breeds Are Considered High-Risk Than Others.

Some dog breeds are more prone to diseases than others. At the top of the list, the breeds include Golden retriever, Newfoundland, Labrador Poodle, Pug and Toy Spaniel, Cocker Spaniel, Yorkie, and Maltese Terrier. Getting life insurance for your dog will be cheaper if your dog is not a high-risk breed. If your pet is a high-risk breed, prepare to pay more in insurance premiums, so select your breed carefully.

2. Get Regular Checkups And Vaccinations

Regular checkups and vaccinations can help lower your premiums. Vaccinating your pet against diseases such as distemper, parvovirus, rabies, and hepatitis reduces the risk of contracting serious illnesses that require hospitalization or treatment. If you can keep your pet healthy, then that will help to reduce the risk of the insurance company paying out on any claims.

3. Make Sure Your Pet Has Plenty Of Exercise And Eats Healthy

Your pet needs to be both physically and mentally healthy to decrease the risk of medical conditions. Regular exercise helps prevent obesity, a major cause of life-threatening illness; it can also help control diabetes, heart disease, arthritis, and other medical problems. Good nutrition helps your pet stay at a healthy weight and lowers the risk for certain medical conditions. Avoid toxic food to dogs as it will make your dog very ill and possibly kill them.

4. Have Your Pet Spayed Or Neutered

Pet insurance is cheaper for pets who are spayed or neutered. For females, spaying helps reduce the risk of mammary cancer and perianal tumors; it also eliminates the possibility (and mess) of uterine, ovarian, and other cancers.

Spaying a female cat prevents pyometra, an infection of the uterus that can be fatal if left untreated. Neutering male dogs and cats reduce the risk of prostate cancer, perianal tumors, and hernias in males. It also eliminates the possibility of testicular cancer in dogs and avoids problems with hormone-related medical conditions such as prostatitis in cats.

5. Aim For A Large Deductible Plan

Pet insurance premiums are lower when you choose a plan with higher deductibles. A higher deductible means your pet will be responsible for paying the first part of any medical bill they incur up to the coverage amount before receiving reimbursement from their insurance company. 

Choosing this option can significantly reduce your monthly premium, but you must have enough funds to pay for your pet's medical bills if they do fall ill.

6. Get Your Pet Microchipped / Spayed / Neutered

Choosing to microchip or spay/neuter your pet can save you up to 10% off your monthly premium. These procedures are considered "preventative," which lowers the risk that your pet will need additional medical attention in the future.

Some companies won't offer you this discount if you don't have your pet microchipped, spayed, or neutered; others may only give you the discount if your pet is already microchipped, spayed, or neutered.

In conclusion, even though pet insurance is subject to all the same factors that impact human health insurance premiums, it is still of great value when you consider how much it will cost you in the event of a major illness or injury. Since it can be challenging to put a price on peace of mind, consider pet insurance as just another way you're investing in your pet's well-being.