Pet insurance, explained: Everything to know now

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November 9, 2026 / 9:42 AM EST / CBS News

Veterinary services can be expensive. In fact, the cost of veterinary services rose faster than inflation last year, according to the American Veterinary Medical Association (AVMA).

Pet insurance can help defray some of those costs. Just as health insurance covers some of the costs of your own medical services, pet insurance can do the same for your cat, dog, and, in some cases, exotic animals.

About 7.6 million pets are currently insured in North America, according to the North American Pet Health Insurance Association (NAPHIA). Is this an insurance type that's worth securing your pet, however? Below, we'll detail what you need to know about pet insurance, how it works, what it covers, and what you can expect to pay for it.

Learn more about your pet insurance coverage options here.

Pet insurance covers some or all of the costs of certain veterinary services for animals — things like diagnostics, X-rays, illness treatments, prescriptions, and more – depending on the provider and the policy.

Generally, it works on a reimbursement…

Original source: https://www.cbsnews.com/moneywatch/