Pet owners not good at fetching insurance

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.