Does it Pay to Insure?

When Michelle Y. and her husband decided to get a dog last year, the family rounded up all the essentials: puppy food, toys, a comfy dog bed — and pet insurance.

“We had decided that we were going to get pet insurance on our dog before we even got him,” says Michelle, who lives in Texas. “My husband’s uncle did not have insurance, and his dog got hit by a car.” The dog survived, but lost a leg. The bill? A whopping $2,400.

A little more than 2 percent of all U.S. pet owners carry pet insurance, according to the American Pet Products Association. That may not seem like much, but the trade group expects the number to climb significantly by 2010, to between 5 and 7 percent.

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