Crazy Money! Pet Insurance for Emergency Vet Expense

It’s Crazy Money Day! 

Do you have a pet? You may be surprised by how much you spend annually. Add up food and supplies, grooming, boarding, training, and vet visits. Have you had to replace damaged items? What did your last vet visit cost? Many pet owners spend over $4,500 annually. Some people spend more on their pets than on their children! The average cost of an emergency vet visit can run between $250 to $8,000, depending on the animal and the service.

Now, if you have vet insurance, you may be reimbursed a large portion of the bill. Generally, the more you pay for a policy, the greater the coverage. The bill must be paid first, then filed for reimbursement. One pet health insurance group reports that the average monthly premium in the U.S. runs $62 for dogs and $32 for cats. The global pet insurance market is projected to exceed $100 billion by 2032 due to the escalating costs of veterinary services. The time spent researching insurance can save you a lot of money.

Before signing up for any plan, shop around. Pet insurance can reduce the financial burden of an unexpected expense, but so can an emergency fund! Pets are wonderful companions. Just don’t allow emotions to overrule financial wisdom when it comes to their care. When considering adding a pet to your home, add up ALL the costs. If you already have one, then build your emergency fund to cover the unexpected.

Now, I invite you to join us in Knoxville, Tennessee, September the 10th through the 12th, as we celebrate all that God has done through Crown over the last 50 years. Learn more at crown.org/50years.