Pet Insurance Saved Me Loan

Pet Insurance Saved Me Loan

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Pets play an essential role in co-existence with human beings. Like humans, pets also need to be cared for when they get sick or injured. It can be very devastating when one finds himself in an awkward situation whether they have to treat their pets but have no money to cater for the bills. The inflation had affected many people, with some having no option but to take loans. The U.S household loan increased to about $16.15 trillion in the second quarter of 2022. Meeting health needs becomes challenging in such an unfavorable economy.

Pet insurance services have continued to gain steam in the modern world. There are about 4 million cats and dogs insured in the U.S, as per the State of Industry Report (2022). Similarly, the Pet Health Insurance Association (NAPHIA) report indicated that the number of cats and dogs insured in 2022 almost doubled the rates recorded in 2017.

Is it Worth Having Pet Insurance?

Having pet insurance means that you are prepared for unexpected illnesses or injuries. While some health issues may cost a few hundred dollars, some, such as cancer and surgeries, may cost vast amounts of money. Having the proper protection in place would save the shock and frustrations that come with medical emergencies. Instead of rushing to the bank for an emergency loan, just get covered by acquiring insurance.

Is Pet Insurance Expensive?

Most people may perceive pet insurance to be expensive, though it would be surprising to learn that they are most affordable to take. On average, the monthly premiums for the dog and cat insurance are $35 and $28, respectively. On average, one is likely to spend between $150 and $450 on the cat’s accident and illness insurance plan. The costs are even lower for routine care, accident only, or best wellness care. Be sure to review the insurance policies before taking any. Get more on the best cat insurance plans.

Do most Vets accept pet insurance?

If you have pet insurance, you can seek treatment from any licensed veterinarian in U.S and Canada.

Factors Affecting the Pet Insurance Costs

  1. Location: The veterinary costs vary from one place to another. Also, the services are more expensive in the urban regions compared to the rural ones.
  2. Pet’s age: The risks for illness increases with age; therefore, older pets attract higher premium.
  3. Pet’s breed: The risks for illnesses vary from breed to breed. For example, the Abyssinian species are more expensive to insure because of the higher risk for retinal atrophy.

Some of the best pet insurance companies include

Pet Loan Option

Pet financing involves using credit cards and personal loans to cater to vet bills. Some famous pet finance companies in the U.S include LendingUSA, CareCredit, Bivy Pet Credit, and PowerPay, among others. Alternatively, one may opt for personal loans to cater to pet treatment bills. Pet financing may be appropriate in emergencies; however, ensure to pay the loan on time.

Which is the Best Option between Vet Loan and Insurance?

I recommend that you choose the pet insurance option because it is cheaper than the pet loan option.


Pet Insurance Saved Me Loan

Other Health Needs for Pets

  • Provide the right diet to the pets. Like human beings, the pets also need a complete diet comprising of the proteins, carbohydrates, fats, vitamins and micro nutrients. Proper dietary intake improves the immune system and improves their abilities to fight infections.
  • Dogs and cats require regular physical exercise to remain healthy. Lack of exercise exposes them to obesity and cardiovascular diseases.
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