Is pet insurance worth it?

As a pet owner, you’ve got a couple financial options to plan for the worst. Setting aside an emergency fund is one, but it’s inconsistent and you won’t know if you have enough until you’re faced with the reality that you don’t.

Let’s say you start a savings account with $100 and put $50 aside every month — you’ll have just over $6,000 by the time your pet turns 10. That’s pretty good if your dog stays healthy until their older years. But what happens if your 6-month-old puppy gets parvo and you’ve only saved $400?

The thing is, you never know when an accident or illness will occur, or what it will cost. Your emergency fund could be cleared out in the blink of an eye, and you’ll be back to square one.

Pet insurance provides a guarantee that you have what you need to cover your pet’s bills, and you can manage your own finances with the confidence that you won’t have to dip into your savings to save your furry family member.

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Who needs pet insurance?

While pet insurance provides security for all pet owners, some need more backup than others.

If you live in a high-traffic area or your dog is known to get into the garbage, you could be hit with emergency vet bills at any time. Take into account your pet’s breed and habits as well: Purebred animals are more likely to have genetic diseases and outdoor cats can get into a lot of trouble.

Having pet insurance means you’ll never have to make a heartbreaking decision when the vet asks for your credit card.

What does pet insurance cover?

Fetch by The Dodo offers coverage for treatment of injuries, illnesses, emergency vet visits and more, but the cost of these offerings is flexible and based on your needs.

With Fetch, you’ll get a monthly quote, deductible and reimbursement rate, then you customize the price and coverage as you see fit.

That means that if your tabby chases a mouse into the street and gets hit by a car, insurance will cover as much of your emergency trip to the vet as you’ve set out in your personalized plan, plus your add-ons like physical therapy for his broken leg.

Unexpected vet bills don’t have to break the bank

Life with pets is unpredictable, but there are ways to prepare for the unexpected.

Fetch Insurance offers coverage for treatment of accidents, illnesses, prescriptions drugs, emergency care and more.

Plus, their optional wellness plan covers things like routine vet trips, grooming and training costs, if you want to give your pet the all-star treatment while you protect your bank account.

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Bottom line

If you had to pay a $5,000 vet bill today, could you cover it?

If that question makes you frantic, please consider protecting yourself and your pet.

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Em Norton Staff Writer

Em Norton is a Staff Writer for Money.ca. Em holds a B.A. in Professional Writing from York University and has been writing professionally since 2019. Em's work has previously been published by Room Magazine, IN Magazine, Our Canada and more.

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