Most pet owners say they are afraid of their pets coming down with a serious and costly illness.

The high cost of veterinary care has prompted nearly 2 million pet owners to protect their pets and their finances with pet insurance policies.

“It’s not impossible that the pet at some point will have a medical procedures that will costs $5,000 to $10,000,” says Mike Barry with the Insurance Information Institute. “That’s something a pet insurance policy would generally pay for.”

Insurance experts say that there are several things to consider before buying pet insurance.

How old is the pet? The younger the animal, the lower the premium.

Pet owners should also find out if they can take their animals to any veterinarian or if the options are limited. 

They should also find out what is covered under the policy. Experts say that some policies only cover accidents, while others offer full coverage. Pet owners should also find out if the policies include any exclusions, such as preexisting conditions or specific breeds.

Experts say that the decision about whether to get pet insurance should depend on the owner’s financial situation. If they can pay for an emergency vet bill out of savings, then they may not need pet insurance.

More information about pet insurance can be found at the Insurance Information Institute website.