Pet Insurance Deductibles: The Math That Surprised Me

I picked a $100 deductible because obviously lower is better, right? Wrong. When Charlie needed $8,000 surgery, I learned some expensive lessons about deductibles.

The difference between my $100 deductible and a $500 deductible was $30 per month in premiums. Over two years, that's $720. More than I saved by choosing the lower deductible.

Deductible Math Is Backwards

I thought lower deductibles were always better. Turns out, the monthly premium difference usually costs more than the deductible difference.

Annual vs Per-Incident Gets Confusing

My policy has an annual deductible. I pay $500 once per year, then insurance covers everything else at 90%. Some policies have per-incident deductibles where you pay $500 for each separate problem. Annual is usually better if your pet has multiple issues.

Higher Deductibles = Lower Premiums

Charlie's policy with a $100 deductible cost $90/month. The same policy with a $500 deductible was $60/month. That's $360 per year in savings. Even if he needs treatment every year, I come out ahead financially.

Emergency Fund vs Low Deductible

I realized I was paying extra monthly premiums to avoid a one-time $500 expense. It made more sense to keep that $500 in savings and take the higher deductible. The monthly savings go into an emergency fund for vet bills.

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