For a plan with decent coverage, the average cost of pet insurance is around $45 per month for dogs and $25 for cats.

In most cases, the annual costs of such plans will be significantly less than a large operation. Consider that the surgery for removing a shoe or chew toy from a dog's stomach can be as much as $7,000, while insurance will average between $300 and $600 per year. 

When choosing whether or not to get a pet insurance plan, there are three questions to consider:

1.    How much would you be willing to pay if your pet has a serious emergency?

2.    How much could you actually afford to pay if your pet has a medical emergency?

3.    How much of a risk taker are you?

While the cost of remedying something like an ear infection or upset stomach likely won't cost you more than a few hundred dollars, more serious health problems can cost several thousands of dollars. If you don't have insurance, you might be forced to put your dog down for economic reasons.

If you wouldn't be able to afford a major operation—and you don't want financial constraints to decide your pet's fate—then you should get insurance.

Visit www.imcpetinsurance.com to get a quote from the ASPCA endorsed insurance program and compare with other pet insurance carriers.