Pet insurance may help provide you with the peace of mind that your pet is covered for unexpected illnesses or accidents. While you may be able to budget for the ongoing day-to-day expenses of keeping your pet healthy, an unforeseen sickness or injury can quickly mount up to thousands of dollars in vet bills, and that’s where pet insurance can help. With pet insurance, a pet owner can claim up to 80% of eligible vet bills per policy year depending on the type of policy taken out.