Is pet insurance worth it? This is the honest math owners should know.

CBS News · Aly J Yale · 2026-11-02 13:47 UTC

Pet insurance can help with many veterinary costs, but it's not right for every owner.

Pet insurance isn't required like human health insurance typically is, but it can still be worth it for many pet owners — especially as veterinary costs rise.

Data from the American Veterinary Medical Association (AVMA) shows that veterinary care costs rose faster than inflation last year (and in every year since 2019). If a big vet bill could threaten your household's financial stability, pet insurance may be a smart way to reduce that risk and cover unexpected costs if they arise.

Still, pet insurance isn't free. The average 2025 accident-only pet insurance premium was $112 for cats and $190 for dogs, according to the North American Pet Health Insurance Association (NAPHIA). Accident-plus-illness coverage was $435 and $836, respectively. Is that investment worth it for your pet? Below, we'll detail how to run the numbers and decide.

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