If you are planning to get a pet, you have to be ready for the responsibilities that it may require. As an owner, you must be prepared to get a health care that will maintain the health of your pet that includes routine checkups, prevention shots, prescription drugs, surgeries and teeth cleanings. All this are under the pet insurance.

Pet insurance pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet. Some policies will pay out when the pet dies, or if the pet is lost or stolen.

According to the report from Nasdaq, households with dogs and cats spend about $231 and $193, respectively, each year for routine veterinarian visits. Those amounts represent the minimum cost for responsible owners. If the owner would like to pay more to cover preventive tests, vaccines, emergency treatments and surgery, he/she must be ready for a total of about $621 for dogs and $382 for cats each year.

A growing number of pet owners are turning on getting pet insurance. With about 2% of dog and cat owners buying policies, the American Veterinary Medical Association (AVMA) reports. If you decide to purchase a pet insurance policy, expect to pay about $50 a month for standard coverage. At $600 a year, this may or may not be worth it, depending on the health and luck of your pet, AVMA added.

AVMA is a not-for-profit association representing more than 88,000 veterinarians working in private and corporate practice, government, industry, academia, and uniformed services. The network provides information on pet care, animal health, veterinary medicine, and careers in veterinary medicine for veterinary professionals.

Your pet may face a serious sickness or damage once or twice in their lifetime, but they will likely have many healthy years, too. Pet insurance generally costs more than it’s worth. If you’re presuming that insurance may not pay out for you, in the long run, there are several options you can choose from to fit your perspective.