By: Chryssa Rich
For Pets Best Insurance
As someone who loves to travel, I often tell myself I’m going to start a special savings account. I’ll save a few bucks every week and before long, I’ll have enough to take an amazing vacation somewhere exotic.
Like many people, though, I haven’t actually started that savings account. And even if I did, there’s no guarantee it wouldn’t end up going toward car repairs, medical bills or other emergencies (water leaking through the kitchen ceiling, anyone?)
Because I can’t save for a fun vacation, I know I won’t have the discipline to save for un-fun vet bills. And I don’t think I’m alone– this is why pet insurance exists.
Can You Save Fast Enough?
Financial advisors sometimes recommend savings accounts instead of pet health insurance. They argue that you can put a little away each month in anticipation of future vet bills. In theory, that sounds okay. But what if your “future” vet bill comes next week, or even a year from now? Will your savings account hold enough to cover it?
Even if you’re putting around $20 into the account each month, (which is more than the approximate cost of a pet insurance plan, monthly) basic math exposes the real weaknesses of pet health savings accounts. If your pet gets sick or injured two months in, you’ll only have around $40 at your disposal.
Pets Best Insurance plans start at about $16 per month, so we’ll use that number to start.
• If a pet owner puts $16 into a savings account every month, it will take about 13 years to reach $2,500, the maximum per-incident benefit of our Pets Basic plan.
• If a pet owner puts $25 into a savings account every month, it will take about 23 years to reach $7,000, the maximum per-incident benefit of our Pets First plan (which runs about $25 per month).
In either case, it would take more than three years to save just $1,000. And in many markets, that may not be enough to cover the most basic accident or illness.
Common Veterinary Care Costs
Depending on your pet’s accident or illness and where you live, even the most routine procedures can costs thousands of dollars.
• Treating a broken leg can cost $2,000 – $5,000.
• Surgically removing ingested items such as rocks, sticks or toys can cost $1,000 – $3,000.
• Cancer treatments can cost $2,000 – $10,000, depending on the type of cancer, severity, and the treatment plan chosen.
Don’t Forget About Freak Accidents
A recent promotion on the Pets Best Insurance Facebook page revealed all sorts of pet “freak accidents” pet owners hadn’t planned for, emotionally or financially. Some of the most common unexpected accidents that required vet care included:
• Small pets being dropped, stepped on or injured by their owners or other pets
• Cats swallowing string and sewing needles
• Dogs swallowing party favors, human foods and kitchen utensils
• Dogs breaking glass and getting cut – sliding doors, fish bowls and light fixtures
• Pets injuring themselves during ordinary activities like jumping off a porch step or running in the yard
• Pets being electrocuted by lightening or peeing on electrical boxes
Check the Price Instantly
Whether your pet hasn’t needed vet care or has already suffered the gamut of accidents and illnesses (and you think he wouldn’t be covered), you can get an instant custom pet insurance quote online right now. It’s worth finding out what a plan would cost compared to your current saving and spending habits.
For more information about the best pet insurance, visit www.petsbest.com.
