Over half of Americans own one or more pets. When it comes to dogs and cats alone, 36.5% percent of Americans owned dogs in 2012 and 30.4% owned cats — and for good reason.
Those benefits don’t come cheap however, and not just because owners pay for fancy snacks, chew toys and doggy daycare. While some species and breeds are more expensive than others, all pets take a financial toll. The annual cost of owning a dog averages $1,843, including health care for pets like heartworm, flea, and tick medication, wellness visits, surgical vet visits, and those all-expensive emergency vet visits. (One expert estimates pet owners are likely to incur at least one $2000 to $4000 bill for emergency care in their pet’s lifetime.)
Studies show those costs are steadily rising. In 2011, a report by the American Pet Products Association calculated that the rise of veterinary costs (routine and surgical visits) in the last decade had risen 47% for dogs and 73% for cats.The fact is advanced medical care means advanced medical costs.That’s in part because an increase in veterinary education (and corresponding tuition). In addition, the greater availability of technology like MRIs, CAT Scans, and cancer treatments (and the specialists and staff that accompany it) that was once available only to humans is now an option for our pets.
As a consequence, many pets are getting less or even no-care. While we want our pets - like all of our loved ones - to live longer than ever, many pet owners are increasingly avoiding vet care,including exams and vaccinations, laboratory tests, medications and flea and tick products necessary for optimal pet health. While most think routine checkups are important, according to one report, 20% to 30% of cat and dog owners said they just couldn’t afford it.
If you are struggling to pay for your pet’s care - or just dreading the moment you are faced with a potentially prohibitive bill - pet insurance might be an answer.
While pet insurance was once considered a luxury only for the very rich, today paying monthly premiums toward a pet health insurance policy is an option for all pet owners. And it’s catching on. In April 2018, the North American Pet Health Insurance Association (NAPHIA) reported that more than 2 million pets in the U.S. and Canada (out of nearly180 million) are now insured.
If you know you can afford a pet, but want to protect your finances in the case of an unexpected accident or illness, Bivvy pet insurance is for you!