We treat our pets like family members and take good care of them, but it can add up.
And Consumer Reports reveals that we spend billions of dollars each year on veterinarian fees.
If you think pet insurance could save you money on routine checkups and emergencies, listen up.
Find out how Consumer Reports found that not all pet insurance parents are happy, and why there may be better ways to save money.
Paulina Vargas had previously purchased pet insurance for her other dogs, but decided against purchasing Nigel and Bella.
“We decided it made more sense not to pay a monthly fee for pet insurance and that paying out of pocket was the best option,” Vargas said.
Paulina is not alone. A Consumer Reports survey found that pet owners are highly dissatisfied with their pet insurance coverage.
“In our survey, more than 2,000 members shared their experiences with pet insurance, covering everything from the actual coverage, to the premiums they paid, to the claims process for getting a refund. And overall. , there was no true top dog. In fact, most results found that the insurers were all about in the middle of the pack,” said Consumer Reports' Brian Vines.
CR looked at survey data from eight pet insurance companies. On average, the total cost per pet was about $47 per month.
Six insurers received moderate overall satisfaction scores, while two received the lowest ratings.
So what can be done to save? – Deposit the amount you will use for insurance premiums into a dedicated savings account.
“Insure yourself by putting money away each month in a high-yield savings account in case your fur baby needs medical help,” says Vines.
If you're having trouble paying for your pet's medical expenses, why not consider attending a veterinary school that offers discounts on everything from health checkups to spaying and neutering.
If your pet needs medication, shop around. You may find it cheaper to order medications online from places like Chewy, Petco, PetMeds, and Walmart Pet Pharmacy.
“We're very lucky. They're very healthy and happy,” Vargas said.
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