Pet insurance can be a great way to reduce the rising costs of pet care. This specialized insurance type can cover dogs, cats and some exotic animals. Veterinarian visits, medications and even some surgical procedures can be covered with a pet insurance plan. And it can be done at a reasonable price point, depending on the health and breed of the animal in question. This allows pet owners to keep more of their money while also providing peace of mind by knowing that they’ll be protected during emergencies or accidents. 

And, during this time of year, it can also be a smart gift to give the dog or cat owner in your life (premiums can be paid in advance for the year or every month). Below, we’ll break down three reasons why pet insurance could be a great gift this holiday season.

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Why pet insurance could be a great gift this holiday season

Here are three reasons why a pet insurance policy may be worth buying for a family member or friend this year:

The price is reasonable

Accident and illness policies range from $383 annually for cats to $676 annually for dogs, according to the North American Pet Health Insurance Association (NAPHIA). That’s less than $60 a month for a policy that can easily save pet owners thousands of dollars that they otherwise would have had to pay on their own. And prices may be even lower than those averages, depending on the health of the pet, the age at which a policy was applied for, and the specific breed of the cat or dog. Like all insurance types, however, it’s critical to shop around to see which providers are offering the most cost-effective care – and which ones just seem to be.

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Waiting could cause prices to rise

If you wait to buy pet insurance next year or even during the 2025 holiday season, that could be a costly mistake. Pet insurance providers reward owners who act early with lower premiums and greater coverage options to choose from. Waiting for the pet to age and, thus, increase the likelihood of health issues, will come at a potentially expensive cost. And if the dog or cat develops pre-existing medical conditions before applying, they could risk being denied coverage in full. Securing a policy now, then, prevents these scenarios from becoming a reality.

The timing makes sense

Ahead of the colder, winter months in which dogs may be injured due to icy conditions and snowy weather, a pet insurance policy makes sense to secure now. With issues like frostbite, sprains and fractures due to slips, falls and more, locking in coverage today could be smart for when it may be needed in January or February. But it makes sense to apply for a plan now. There’s a waiting period of a few weeks (on average) between the time an application is approved and the time owners can access it. Being proactive, when coverage isn’t needed, could help owners complete this waiting period more easily than if they had applied post-injury.

The bottom line

A pet insurance policy for the pet owners in your life may not have been the first thing you thought of when compiling your holiday shopping list. But that doesn’t mean it can’t still be a thoughtful, inexpensive and valuable gift, either. By acting now you can potentially pay less for more coverage ahead of a time of year when many pet owners need additional medical protection. So start shopping for providers and policies now to learn more about this exciting gift opportunity.