Alternatives to taking out a pet insurance policy:
Option 1: Self-insurance.
Some breeds, French Bulldogs for example, have so many genetic conditions that pet insurance premiums can be quite expensive. A ‘self-insurance' fund is a good alternative to pet insurance. This often takes the form of a separate bank account where money is set aside for veterinary care.
The disadvantage of being self-insured is there may be times where your self insurance fund has insufficient funds for the required treatment. Snake bite can cost $5000 or more. Cruciate repair, the number one orthopaedic injury in dogs, can cost upwards of $5000 per leg.
It can take quite a long time to save large sums on money. Pet insurance policies provide coverage into the thousands of dollars from your pet's very first year. No saving required.
Option 2: Payment plans.
Payment plans are another option for funding unexpected medical expenses. We have Vetpay available for you.
The disadvantage of payment plans are the fees. The interest, transaction fees and application fees can add up. At time of writing Vetpay charge a $49 application fee, 18.4% interest and $2.50 per transaction.
For more advice on selecting an insurance policy see: