Everybody seems to have an opinion about pet insurance. Some feel it’s a waste of money, while others think it’s one of the most important investments they make when it comes to caring for their pet.

According to the American Pet Products Association, 27% of the cost of owning a pet goes to veterinary care. And with veterinary costs on the rise, you might consider pet insurance as a way to provide affordable long-term health care for your furry friends.

Here are 10 points to consider before signing on the dotted line:

1. Your pet will need to see a veterinarian from babyhood to its golden years. The costs will depend on if it’s a routine visit or emergency care.
2. Pet insurance is designed to help pay for unexpected bills if your pet has an accident or becomes seriously ill.
3. While a variety of pet insurance plans exist, all plans are not the same. The cost and coverage benefits will depend on your pet’s breed, age, health, and pre-existing or hereditary conditions.
4. Most policies do not cover pre-existing conditions that occur before coverage begins.
5. Some insurance plans only cover accidents; others cover only illnesses.
6. Aside from basic coverage, you can purchase an amendment, commonly called a rider, which provides specific treatment. Cancer treatment is a common rider.
7. In addition to insurance plans, many providers offer wellness plans, which covers routine preventive care such as vaccinations, spaying and neutering services and heartworm prevention.
8. While pet insurance plans are similar to human insurance plans, the big difference is that pet owners pay the bills up front and get reimbursed by the insurance provider. You can select a plan that has a low monthly premium and no deductible or customize a plan that fits your budget.
9. If you’re planning to buy pet insurance, decide on a plan when your pet is young and healthy. Insuring your pets at a young age helps guarantee the majority of your pet’s illnesses will be covered.
10. Don’t pick a policy based solely on cost but rather for the coverage it provides.