When considering pet insurance, most people weigh it against putting money into a separate bank account in case of a pet emergency. This blog post is not to tell you why one is better than the other, but why it is good to have both.
The benefits of pet insurance:
- It will cover a large vet bill, even if it’s just a few months after you got your new pet.
- There are no limits [with Trupanion] which means you can provide the best veterinary care possible to your pet.
- It will continue to cover your pet, regardless of how many incidents occur.
How a savings account can help:
- Money to cover expected costs, such as routine care, nail trimmings, etc.
- Funds available to cover the initial vet bill when something happens, before the pet insurance check comes through.
- Leftover money can be spent elsewhere.
Without pet insurance, there is the risk of quickly depleting the available funds and not being prepared should another incident occur. Plus, it may take years to save up the thousands of dollars that it costs for common surgeries such as a torn cruciate repair.
Insuring your pet and setting some money aside for vet bills will be your best defense in case your furry family member experiences a costly accident or illness.