Pet Wellness on a Budget: Balancing Quality Care With Affordability

Looking for ways to give your pet quality care without spending your entire paycheck?

It’s no secret that veterinary costs have skyrocketed over the past few years. In fact, one article says veterinary costs have increased by 60% in the last 10 years.

The problem?

Skyrocketing pet insurance premiums. Vet bills that keep getting more expensive. And if you’re like most pet owners, you could have an emergency vet bill that completely wipes you out.

Quality pet care shouldn’t cost you your life savings.

That’s why this step-by-step guide will cover the best ways to keep pets healthy while spending less money.

Ready to learn how?

You’ll learn:

• Why Veterinary Costs Keep Climbing
• How Pet Insurance Premiums Work
• Top 5 Pet Wellness Tips that Save You Money
• How to pick the right coverage for your pet

Why Veterinary Costs Keep Climbing

Between vet bills, pet medications, and routine wellness care… taking care of your pets is costing more money than ever.

And it’s forcing pet owners to make difficult decisions when it comes to their pet’s health.

In fact, one study showed that 52% of pet owners admitted to skipping or declining veterinary care for their pets. And of those that skipped care, 71% cited cost as the reason for their decision.

Yikes.

When you look at the average pet insurance costs, that starts to make a lot of sense. The average monthly premium for accident and illness insurance is $62 for dogs. And $32 a month for cats. If you have multiple pets, those prices can really add up.

But here’s the kicker…

If you don’t have insurance, one emergency vet bill could set you back thousands. That’s why it’s so important to find affordable coverage that won’t leave you hanging if something happens. And if you’re in Canada searching for pet insurance, check out the best pet insurance Canada options to find the right fit.

How Pet Insurance Premiums Work

Pet insurance isn’t one-size-fits-all. Several things determine the price of your monthly premiums. So let’s take a closer look at what affects the cost of pet insurance.

Things that affect pet insurance premiums include:

• Breed: Some breeds have predispositions to certain health conditions. Bulldog breeds typically have higher premiums due to skin and respiratory issues.
• Age: Younger pets = lower premiums. As your pets age, the risk of serious illnesses like cancer and kidney disease increase.
• Location: If you live in an urban area with higher vet fees, your premiums will likely be higher as well.
• Level of coverage: Just like with human health insurance, a plan with low deductibles and high reimbursement rates will cost more each month.

One of the biggest takeaways when researching pet insurance is that plans are customizable. Playing around with the deductible amount, reimbursement rate, and annual limits can help save money on monthly premiums. The higher the deductible, the lower the monthly payment.

Top 5 Pet Wellness Tips that Save You Money

Now onto the fun part. Let’s dive into five strategies you can use to keep your pets happy and healthy while spending less.

Invest In Preventative Care

This should go without saying, but taking care of your pet now will save you money in the long run.

Annual checkups, vaccines, and preventative medications can help catch problems before they become serious (and expensive). Many vets also offer pet wellness plans that bundle these services together at a discount.

Think of it as maintenance on your car. An oil change is cheap. But if you wait too long and need a new engine, you’re in for some serious expenses.

Shop Around For Pet Insurance

Not all pet insurance policies are created equal. Just like in the example above, taking the time to compare prices from multiple companies can save you a ton of money.

When you’re shopping around, look for pet insurance that allows you to:

• Customize your deductible
• Adjust your reimbursement rate
• Have no breed specific exclusions

Don’t just settle on the first company you find. Get quotes from at least three different providers to ensure you’re getting the best value.

Consider A Wellness Plan

Increasingly, vet offices are offering pet wellness plans. Think of these plans as separate from your pet insurance and cover preventive care like annual exams, teeth cleaning, and vaccines.

Here’s why these plans are great:

Instead of having to pay a few hundred dollars twice a year for wellness care. You break that cost up into manageable monthly payments. Wellness plans allow you to budget for your pet’s care instead of waiting until you’re dumped with a huge bill.

Many vets will even let you pair a basic insurance policy with a wellness plan to cover the bulk of your pet’s needs.

Create a Pet Emergency Fund

Yes, you should have insurance. But you should also allocate a few bucks each month to a pet emergency fund.

It doesn’t have to be much. Start by setting aside $20 a month and build from there. Before you know it, you’ll have a few hundred dollars set aside strictly for pet emergencies.

That safety net will come in handy. And it’ll prevent you from having to rely on credit cards or loans if something happens to your pet.

Look Into Discount And Savings Programs

A lot of people don’t know this, but there are tons of pet insurance discounts out there.

From multi-pet discounts that lower your pet insurance premiums. To military, senior, and rescue discounts… most insurance companies offer ways to save money.

You can even look outside of insurance and find discounted vet services. Local shelters and nonprofit organizations offer low-cost vaccination clinics in addition to microchip clinics, spay/neuter programs, and emergency financial assistance.

Pet saving doesn’t have to be hard.

How to pick the right coverage for your pet

Picking the right coverage for your pet comes down to these three questions:

1. How much can you afford to pay each month?
2. Are you willing to pay a higher deductible in exchange for lower premiums?
3. What are your pet’s needs? Does your pet have any breed specific health concerns that require more coverage?

Take a moment and write down any health risks your pet may have based on their breed and age. Then go from there and find a plan that covers those risks without paying for services you don’t need.

You want to find the balance of affordable premiums that give you enough coverage to feel comfortable.

Nobody wants to find out their pet insurance doesn’t cover half the stuff they think it does.

Wrapping It Up

Keeping your pets healthy shouldn’t cost you your life savings. But with pet insurance premiums on the rise, it can seem that way.

Here’s your quick recap on keeping pets healthy while spending less money:

• Know what factors into the cost of pet insurance premiums
• Comparison shop and get quotes from multiple providers
• Invest in preventive care. Preventative care. Preventative care.
• Create a pet emergency fund.
• Look for discounts, and take advantage of savings programs.

Planning ahead is the best thing you can do for you and your pet. And by combining reasonably priced insurance with routine preventative care, you can care for your pets without going broke.

Your pet depends on you. Start today.