Pet Insurance Could Make Taking Care of Fido More Affordable

Today’s pet owners are more involved in their furry friends’ lives than ever before – and we’re not just talking about spending time together. The pet industry is raking in billions upon billions of pounds around the world, and the average person is much more willing than they used to be to set aside a significant slice of their income for their dog or cat.


Now, to be fair, this is a relatively recent development. A few years ago, the only people that would’ve dreamed of lavishing their pet with exorbitant treats and accessories would’ve been those with posh, designer dogs. And the only pet owners that would’ve taken out pet insurance for their dog or cat would’ve been breeders or those showing animals with champion bloodlines.

But times have changed, and pet cover is becoming much more commonplace. Now, as this blog is dedicated to helping readers live a happy, frugal life, we thought we would take a moment to consider the merits of pet insurance. Is it really worth budgeting for such an expense?

Before we go any further, we should remind readers that the author of this blog knows that the most affordable four-legged friend is one that ultimately belongs to someone else. Making friends with the neighbour’s Jack Russell and letting it accompany you on your daily routine is a great way to enjoy the companionship of a pet without having to make any major financial sacrifices. But not everyone has the advantage of living next to such an affable dog.

If you’re looking for ways to keep expenses down without having to forego the joys of pet ownership, then a pet insurance policy may be the way to go. We’ll consider why in the remainder of this post.

Here are four reasons to consider taking out pet insurance:

  1. Peace of mind may be worth more than you think.

We’ll begin with the peace of mind argument. Whilst often used to con consumers into buying things that they don’t need (even having those things might make them ‘feel better’), peace of mind is more significant in this case. You see, if your pet becomes seriously ill and needs an expensive operation, you may have to choose between your wallet and the health (or even life) of your pet. With a pet insurance policy, you’ll never find yourself having to make such an earth-shatteringly difficult decision. That’s certainly worth something.

  1. Veterinary care costs more than ever.
    We mentioned above what a cash cow the pet industry has become. Part of this is due to ever-rising veterinary costs. If your pet becomes ill – and it almost certainly will at some point – helping it become well again is going to cost you more now than it would’ve even a few years ago. If you’re not sure you can afford that outcome, then it may be worth checking to see if you can afford the premiums of an insurance policy. If so, that could be the way to go.
  1. Insurance makes budgeting for your pet easier.
    Following on from the previous point, regularly occurring pet insurance premiums are something you can plan ahead and budget for. You don’t have to worry about any significant surprises, because you’ll know (more or less) precisely how much you’re going to be paying over the lifetime of your pet. This makes it less likely that you’ll have to deal with any undue stress down the road.
  1. Today’s pet insurance plans are flexible.
    One of the benefits of a booming pet industry is that owners have more options to choose from across the board. This applies to insurance policies as well. If you have some amount of savings that you don’t mind drawing upon for routine care, then you may decide it makes more sense to purchase a streamlined cover that will take effect in case of an emergency. Or perhaps you decide that you prefer more comprehensive coverage for your pet during the first couple of years of its life while you tuck some savings away (as this veterinarian on Quora recommends).

Fortunately, the average pet insurance policy isn’t all that expensive. If you can afford to keep a pet in the first place, then budgeting for the relatively modest premiums of pet insurance probably isn’t going to be too difficult. Having a pet is a major responsibility, and a well-crafted insurance plan goes a long way towards helping you fulfil your duties as a pet owner.