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The Truth Unleashed: Dispelling Pet Insurance Myths

By: Lizz Caputo

Pet insurance, like all insurance, is about planning for the unexpected. It's not a decision to take lightly. Let's ensure you have all the answers you need to make an educated choice about your pet's health.

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We get it. Insurance is complicated. There's a lot of fine print, and it can feel like you need an advanced degree to make sense of it all. And when it comes to pet insurance, it's no different.

With myths and misconceptions floating around, it can be challenging to separate fact from fiction. That's why we're here to help! Let's dive in and clear up some of the most common myths about pet insurance.

Myth #1: Pet insurance isn't worth it:

When you're budgeting for pet expenses, it's easy to look at pet insurance as an optional expense. You might think, "My pet is young and healthy, they don't need insurance." But here's the thing: Just like humans, pets can have unexpected health issues or accidents at any age.

Sure, pet insurance is an additional cost each month, but it can save you big time in the event of an emergency. Vet bills can skyrocket into the thousands very quickly. Having pet insurance can mean the difference between being able to afford care or not.

When it comes to your pet's health, it's better to be safe than sorry.

Myth #2: Pet insurance covers everything:

While it's true that pet insurance can cover a significant portion of veterinary costs, it's important to know that not all policies are created equal. Some cover accidents and illnesses, while others might also include preventative care. Pre-existing conditions, for example, are usually not covered.

It's crucial to read the fine print and understand what's covered and what's not before choosing a plan. A lower monthly payment might seem attractive, but if it doesn't cover what your pet needs, it might not be the best choice.

Myth #3: My pet is too old for pet insurance:

Yes, age can be a factor when it comes to the cost of pet insurance. But that doesn't mean older pets can't be insured. Many companies offer policies for senior pets, although these may come with certain limitations or higher premiums.

The truth is, older pets are more likely to have health issues, making insurance a good investment. It's never too late to consider pet insurance for your soulful sidekick.

Myth #4: I can just self-insure my pet:

Some people prefer to put money aside each month instead of paying for pet insurance, essentially creating a pet emergency fund. While this might work for some, it requires discipline and foresight.

What happens if your pet needs emergency care and you haven't saved enough yet? Vet costs can be much higher than expected, and they often come at the most inconvenient times. Pet insurance provides peace of mind, knowing that if the unexpected happens, you'll be covered.

Myth #5: All pet insurance policies are the same:

This is a biggie. Just as with human health insurance, there's no one-size-fits-all policy for pets. Coverage varies widely among different insurers. Some policies might offer comprehensive coverage, including preventive care like vaccinations and annual check-ups, while others only cover accidents and illnesses.

Don't just glance at the price and choose the cheapest option. Make sure you're comparing apples to apples. Look at what each policy covers, the deductible, the payout limit, and if there's a co-pay.

Myth #6: Pet insurance is too expensive:

It's understandable to feel this way, especially when you're already juggling rent, groceries, and that student loan that just won't quit. But consider this: can you afford a sudden $2,000 vet bill?

The cost of pet insurance can vary based on several factors including your pet's breed, age, and where you live. However, it typically ranges from $20 to $50 per month for dogs and $10 to $30 per month for cats.

That's probably less than your monthly coffee or streaming service bill. And it can help prevent you from having to make a tough decision between your pet's health and your budget.

Myth #7: My indoor cat doesn't need pet insurance:

You might think that because your cat is an indoor dweller, she's immune to health risks. But even the most pampered indoor cats can face health problems like diabetes, kidney issues, or dental disease.

Plus, cats are masters at hiding their discomfort, so by the time you notice something is off, your vet bill might already be through the roof.

Pet insurance can help cover these costs and ensure your feline friend gets the care she needs, indoor lifestyle or not.

Myth #8: My breeder offers a health guarantee, so I don’t need insurance:

While breeder health guarantees are a great asset, they usually only cover a very specific set of conditions and are limited to a certain timeframe.

A guarantee might cover congenital or hereditary conditions that present themselves within the first year or two, but what about when your pet is five, seven, or ten years old?

Pet insurance offers more comprehensive coverage and lasts for your pet's entire lifetime.

Myth #9: If my pet is healthy now, they will stay healthy:

It's great if your pet is healthy right now! That's what we all want for our furry friends. But just like humans, pets can develop health conditions as they age, no matter how well they're taken care of.

Having pet insurance when your pet is young and healthy means you'll have coverage if they develop a health issue later on.

Myth #10: It's better to wait until my pet is sick to get insurance:

Unlike some forms of human health insurance, pet insurance typically doesn't cover pre-existing conditions. This means if your pet is already sick, getting insurance after the fact won't help with the costs of treating that specific illness.

Getting insurance while your pet is still healthy means you'll have coverage in place if they become sick or injured. It's always better to have insurance and not need it than need it and not have it.


Let's face it, insurance can feel like a bit of a gamble. Are you wasting your money on something you might never use? Or are you saving yourself from a potential mountain of debt down the road? That's a decision only you can make.

Navigating the world of pet insurance can be a bit like a maze. But don't let myths and misconceptions lead you astray. Armed with the right information, you can make the best decision for you and your pet.

At the end of the day, pet insurance is about being prepared for the unexpected and providing the best possible care for your pet, without breaking the bank. Here's to happy, healthy dogs and cats!

Lizz Caputo is the Manager of Content Strategy at Figo, animal enthusiast, and owner of a rescued senior American Bully. Her hobbies include checking out new restaurants in her area, boxing, and petting dogs of all shapes and sizes.

Figo writer Lizz Caputo


Lizz Caputo

Manager of Content Strategy at Figo

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