A pet wellness plan is only worth it if you’ll be making claims and maximizing your reimbursements. Look at the annual cost of a wellness plan, your potential annual savings and your out-of-pocket costs.
Finding a good pet insurance wellness plan is secondary to finding a good pet insurance accident and illness policy. The base accident and illness plan covers major veterinary expenses, such as a torn ligament, broken bones, cancer and diabetes. It’s more important to find the best pet insurance policy and then decide if adding a wellness plan is worth it. You can find a good price on pet insurance by comparing pet insurance quotes from multiple companies.
Once you find a pet insurance plan you like, compare the company’s wellness plan prices with your expected routine care costs for the year. You’ll want to look at:
- The cost for adding a wellness plan and the maximum savings potential per policy term.
- Your vet’s charges for routine wellness expenses.
- The amount your wellness plan will reimburse for routine wellness expenses.
- The amount you can expect to pay out of pocket for additional routine care charges.
Some wellness plans offer relatively low potential savings amounts. For example, the basic wellness plan from Figo costs about $111 per year for dogs and the maximum savings amount per policy term (after accounting for the premium) is only $11, and that doesn’t factor in your out-of-pocket costs when a certain expense exceeds the reimbursement limit. For example, Figo’s basic plan covers only up to $40 per year for teeth cleaning when the average cost of teeth cleaning ranges from $170 to $350.
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