Pet owners are in the doghouse when it comes to ensuring they can cover emergency medical costs for their furry friends, according to a survey by Pumpkin Insurance Services Inc.
According to the survey, 44% of pet parents cannot afford an unexpected bill of $1,000 and report they’d need to rely on a line of credit, credit card, borrow from family, or simply turn down the procedure.
Thirty-nine percent of owners admitted they delayed visiting the vet for fear of the cost and of those, 87% lack pet insurance and 60% would not be able to pay out of pocket for a vet bill over $1,000.
Only 23% of people have financial plans for their surprise vet bills: 13% would turn to their pet insurance and 10% have a savings account set aside, according to the survey.
And while some pet parents would rather deal with unexpected emergency veterinary costs as they happen, 93% of them underestimated the cost of vet care.
The federal agency that takes on companies big and small for fraud, false advertising and more is aiming to come to the aid of those who desperately crave a McFlurry or soft serve sundae from their local McDonald’s franchise.