According to the American Pet Products Association (APPA), pet owners in the United States spent over $95 billion on their pets in 2019. By the end of 2020, it's estimated that pet owners will have spent nearly $100 billion on their pets.

With the majority of this money being spent unsurprisingly on pet food and treats, it might be surprising that nearly $30 billion was spent on veterinary care alone. While many households have traditional pets such as dogs and cats, some households do have exotic pets as well. Exotic pet vet care can be even more expensive.

Since so much money is spent on keeping pets healthy, it's only natural that pet parents would turn to pet insurance plans to help with their vet bills.

Pets in New York City

Recent studies show that there are around 1.1 million pets in New York City alone. That's about 600,000 dogs and 500,000 cats with a few other pets mixed in. With so many pets, it's likely many New York pet parents might have to take their pets to an animal hospital sooner or later.

New York Pet Insurance Coverage Options

In the United States, and in New York, there are two major types of insurance policies. Accident-only pet insurance plans include emergency care like accidents caused by cars, ligament tears, and ingestion of a foreign object. Accident and illness plans refer to wellness plans that include emergency care in addition to coverage for hereditary conditions like hip dysplasia, chronic conditions, infections, and exam fees.

A survey from 2019 done by the North American Pet Health Insurance Association (NAPHIA) asked popular insurance providers like Wagmo, Embrace Pet Insurance, Healthy Paws Pet Insurance, Trupanion, Figo, and ASPCA  for their national annual deductible and monthly premium prices on average.

According to the study, dog owners with wellness plans (accident and illness insurance policies) paid around $585 for their annual deductible and just under $50 for their monthly premiums. For accident-only coverage, pet parents with dogs paid an annual deductible of less than $200 and a monthly premium of around $16.

For cat wellness plans, pet parents paid an annual deductible of $350 and a monthly premium of $30. For the accident-only coverage plans, pet owners paid around $125 for their annual deductible and a little over $10 for their monthly cost.

New York City Considerations for Pet Insurance

For New York, these averages are about the same for residents. However, in New York City, spaying and neutering are required for most pets, so that can lower the overall cost for pet insurance in the city.

Wellness care is often best for older pets and chronic conditions. However, having this wellness care can reduce upfront costs for preventative care and routine care as well as emergency care for pets at any age. Some pet insurance companies will have age limits, waiting periods for some injuries, and fees for preexisting conditions.

For New York City, pet parents can get pet insurance quotes from most top pick insurance agencies like Petfirst and Nationwide to determine the insurance cost for their pet needs specifically. Utilizing these free quote tools can determine the costs of annual checkups and vet visits.