Pet Savings Account: What You Need to Know
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As a new pet owner, it is hard to know how much your new furry friend is going to cost you. You can plan for items like food, bedding, and routine vaccinations. But how do you budget for medical issues you don’t see coming?
Whether you have a baby pet or a senior, accidents can happen at any time. Naturally, you can try to guess or put money aside, but when the unexpected happens, there is no way to predict how much that veterinary bill will eventually cost. For instance, a pet savings account is an additional resource to supplement your pet’s veterinary bills. But can it cover what your pet really needs in an emergency?
Learn more about a pet savings account and the advantage of preparing your family budget for your pet’s lifetime journey.
Pet savings account: essential information every pet owner should know

Family budget
When you look at your monthly budget, you are planning for the expected. In essence, these are costs for which you know you are responsible.
Certainly, when it comes to your pets, very few things are expected. For example, as part of being a responsible pet owner, you can plan for wellness veterinary visits, preventative care, and vaccinations. In addition, you can also plan that your furry friend will be your new best friend for life. Those things are for certain.
But when it comes to the unexpected illnesses or injuries that could affect your pet, you simply cannot predict if or when your pet will get sick or hurt, or how much it will cost you when something happens.
Factors of the pet savings account
When it comes to putting money aside in a savings account, consider the following-
- For instance, if you put away $100/month that totals to $1200 a year in savings. Diagnostic testing could total that amount on its own. Additionally, that is not including treatment, surgeries, or medications your pet might need, or if they need veterinary care for multiple conditions.
- A pet savings account has limits.
- Once the funds are gone, you have to start over with the savings.
- In brief – pet savings account just might not cover the cost of what is needed for your pet’s treatment. Further, no pet owner wants to have to make a tough decision based off of finances.
Essentially, a pet savings account is a wonderful option for something you can plan for. Such as your pet’s flea/tick medication, veterinary wellness visits, food, and pet care items. But is it the right option for the costs that you can’t predict?
Cost of pet medical care
The cost of medical care for your pets can vary based on if they need routine care or specialized care. In addition, it also varies off of the veterinary practice or region into which you live.
With the advancement in medicine, your puppy might need an MRI or your cat might need allergy testing, and all of that specialty care comes at a cost. Further, if your pet has a life-long condition, such as allergies, arthritis, or diabetes, the medication and treatment usually last for their lifetime.
The difference between a pet savings account (“piggy bank”) and medical insurance for pets
Although a pet savings account is a necessary tool for any pet owner, there is a distinction between budgeting for a pet savings account and medical insurance for pets.
For example, a pet savings account, allows you to put a certain amount of money away on a weekly or monthly basis. In addition, how much you put away can vary from person to person or factor in how many pets you have. And once the savings have been depleted, you have to start over with saving.
Conversely, if you choose medical insurance for your pets, it allows you to budget for your pet’s unexpected medical costs with a monthly subscription model. Fortunately, with the Trupanion policy* your have no limits on coverage for your pet’s lifetime. In turn, when your pet needs thousands of dollars for eligible treatment, you can say yes, without the worry or stress of how you’re going to afford it.
Essentially, both options are providing protection but addressing different concerns. In summary, a pet savings account is great for planned expenses. In contrast, medical insurance for pets protects for those unexpected circumstances. Both options provide the financial assistance that allows pet owners to help their pets. When combined together, all aspects of a pet’s health are protected.

Pet savings account: supplemental support to help your pets
Whether you opt to put money away in savings or pay a monthly price for medical insurance for your pet, both are providing support for your pets. Moreover, knowing your pets are protected can give you the peace of mind for a lifetime.
We love informed decisions. See our policy for full coverage details.