3 Reasons Why Every Canadian Pet Owner Needs Pet Insurance

With living costs and inflation dramatically rising, we're all looking for ways to cut costs. Financial concerns like these put us in a mindset of saving, not spending. However, this can unfortunately mean we neglect important expenditures, such as pet insurance, that give us financial peace of mind and can save us a lot of money in the future.

A 2022 survey by PetKeen revealed that only 3% of pet owners in Canada have insurance for their fur babies. This means most Canadians are at risk of receiving unexpected vet bills (up to thousands of dollars) if their pooch or kitty gets sick or injured. And in today's economy, that's a pretty big risk to take.

So if you want to be savvier with your money, you should consider enrolling in pet insurance. Here are three reasons why.

1. It Gives You Peace Of Mind

While we may be unable to prevent rising gas prices and energy rates, we can ensure we do not get hit with high unexpected vet bills. If you have pet insurance and your pup gets in an accident or develops an illness, you can focus your energy on helping them recover rather than worrying about money and how much it’s going to cost.

All pet insurance companies and plans vary, including the maximum amount you can claim each year. We recommend choosing one with a generous budget, also known as a plan’s annual policy limit. Additionally, the more services your plan covers, the more at ease you will feel.

Some plans offer additional benefits for even further peace of mind. For example, imagine you get sick and are hospitalized for over 48 hours with no one to look after your fur baby. Some policies, such as Furkin, will help pay for those costs to board your pet. Furkin Pet Insurance doesn't just give you peace of mind that your furry friend will be ok if something happens to them; you can also rest assured with Furkin that they will be fine and cared for should something happen to you.

2. Your Fur Baby Can Get Quicker Care

In an ideal world, we would take our cherished pets to the vet whenever they seem under the weather. However, as vet visits are not cheap, many pet owners “wait to see” resulting in feeling guilty afterward.

For example, let's say you notice your kitty has some diarrhea and vomiting, two of the most common symptoms in pets, out of the plethora of other health conditions. If you don't have pet insurance and payday is one week away, you might decide to give it a few days to see if the symptoms clear up on their own.

While this may be fine under certain circumstances if it's just a case of a dodgy tummy, vomiting and diarrhea can also be signs of something more severe. This is especially true in puppies and kittens, as these symptoms can sometimes signify a life-threatening condition like Feline Panleukopenia or Canine Parvovirus.

Time is of the essence with these viruses, as they can worsen very quickly. So in these cases, waiting a few days could have a detrimental effect.

However, if you have pet insurance, you'll have the peace of mind that unexpected illnesses are covered so you can book an appointment with the vet immediately. Getting your fur child veterinary care much faster with pet insurance than without could prove to be life-saving.

Of course, most pet insurance plans ​​do not pay 100% of the vet bill. For example, Furkin reimburses 80% of your total eligible expenses. So while you will still need to pay for a bit, it will be much less than if you didn't have insurance, making your total out-of-pocket expenses a much more manageable amount of money when in an emergency situation.

3. Annual Insurance Is Cheaper Than The Average Vet Bill

According to our data, a large portion of vet bills are over $1,000. In contrast, annual pet insurance costs are on average closer to half that amount (oftentimes even cheaper for cats). Moreover, suppose your fur baby was unfortunate enough to get in an accident and require surgery. In that case, your vet bills will be much higher than the average $1,000.

For example, ligament repair in dogs can cost anywhere from $3,000 to $7,000. And that's just for the surgery alone; there will then be x-ray, anesthesia and follow-up care costs on top of that figure. In contrast, dog insurance with the lowest premium will be considerably less than any one-off surgery cost.

Why Choose Furkin Pet Insurance In Canada?

Getting pet insurance is rapidly growing in popularity as pet parents want to ensure their furry family can enjoy a long and healthy life. When you have financial protection for your pet's health, you won't hesitate to book a vet appointment when they are sick or find yourself strapped for cash should they need an expensive procedure. In a world full of financial woes, having pet insurance means one less thing to worry about. You can talk to the Furkin Care Team today to learn more about Furkin’s $20,000 in annual coverage or click here to get a free quote.