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More and more people are buying pet insurance for their furry family members. According to The New York Times, the North American Pet Health Insurance Association said that 2 million pets were insured in the U.S. and Canada, up 17 percent from the prior year. However, experts say that pet owners need to understand the fine print of their policies before signing on.

For a pet owner whose pet doesn’t need much care, it could be more pricey to pay for pet insurance than it is to pay for vet services. The policies also typically don’t cover pre-existing conditions. Premiums for pets will be cheaper when the pet is younger and doesn’t have any illnesses or issues, but as they get older, the premiums get more expensive, which leads to many people dropping the insurance right when their pet might need it most.

Additionally, depending on the policy, you may also have to pay an out-of-pocket deductible that needs to be met before insurance starts paying for it, on top of any premiums.

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Image via NBC News.