Answer:

Yes. Due to the high cost of veterinary care, pet health insurance has become increasingly popular in recent years.

The health insurance that you purchase for your pet operates much like your own health insurance, with deductibles, co-payments, pre-existing condition limitations, and annual premiums. Coverage typically includes routine exams and vaccinations, as well as treatment for injuries and illnesses.

When shopping around for pet health insurance, make sure that the insurance company is recognized by your veterinarian and sells a licensed product. Keep in mind that coverage and policy types vary from company to company. In addition, you'll want to find out about policy limitations or exclusions (e.g., older pets, pre-existing conditions, etc.).

The cost of a pet health insurance policy will hinge upon a variety of factors, such as species, age, and where you live. But it is generally more affordable to buy pet health insurance than pay the full cost of veterinary care out-of-pocket. Some insurance companies may even offer discounts if you insure more than one pet with them.