Pet Insurance Calculator (Payout and Break-Even Vet Bill)
Enter the policy terms and a vet bill to see what you get back.
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Pet Insurance Calculator (Payout and Break-Even Vet Bill) by TheCalcTools
How the Pet Insurance Calculator (Payout and Break-Even Vet Bill) works
The insurer pays the reimbursement rate on covered costs above the deductible, up to the annual limit. The net gain is the payout minus the year’s premiums.
Break-even bill = deductible + yearly premiums ÷ reimbursement rate. Most years you will pay more than you get back; insurance is for large, unexpected bills.
The formula
Worked example
Using the default values shown in the calculator:
| Premium per month | $45 |
|---|---|
| Annual deductible | $250 |
| Reimbursement rate | 80 % |
| Annual payout limit | $10000 |
| Covered vet bills this year | $3000 |
- A $3,000 bill with a $250 deductible at 80%: insurance pays $2,200.00.
- After $540 of premiums your net gain is $1,660.00. Break-even is $925 of bills.
Result:
| Insurance pays | $2,200.00 |
|---|---|
| You pay for the vet bills | $800.00 |
| Net gain or loss vs no insurance | $1,660.00 |
| Vet bills needed to break even this year | $925 |
| Premiums per year | $540 |
Frequently asked questions
Is pet insurance worth it?
It is worth it if a large bill (surgery or cancer treatment can cost several thousand) would be hard to pay. A dedicated savings fund is the alternative.
Sources and further reading
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This calculator gives estimates for information only. Check important results independently before you rely on them. See our disclaimer.