Let’s be honest, the cost of living has increased quite drastically over the last couple of years.
We’re starting to look a little closer at our spending habits but how does pet insurance impact our spending?
I don’t know about you but I have recently taken my budget a lot more seriously and with that, I have started to notice some interesting spending habits. It’s odd when you start to dig deeper into what you spend your money on, you realise two things:
- You spend a lot of money on some pretty unnecessary things (yes, my dog does need 4 new toys a week)
- Food is expensive
Let me get back to my point. Pet insurance.
Pet insurance has a pretty big impact on our spending, how, you might ask? Well, let’s find out.
Why has pet insurance become so popular?
Pets are family members, now more than ever. Gone are the days when pets are there as protection or just a cute cuddly thing you forget about over time. They are now fully entrenched family members.
We now go the extra mile to ensure our pets are healthy and that they will be around for as long as possible. This is where pet insurance comes in.
Pet medical care is pricey and, more often than not, we aren’t prepared to pay for a hefty bill (no matter how much we want to). Pet insurance gives us the ability to provide adequate healthcare to our pets without breaking the bank.
How does pet insurance impact our spending?
There are many aspects to this. There is some research that suggests pet insurance makes us spend more money on pet care but on the other hand, it saves us money. How does this work?
Pet insurance makes us spend more
This sounds contradictory to the point constantly made about pet insurance. Don’t stop reading now and think pet insurance is going to cost you more than it’s worth. I have a point to this.
Studies have shown that when people have pet insurance, they increase the number of times they visit the vet and they’re more likely to spend more at the vet.
Now before you start to wonder if pet insurance is a conspiracy to get you to spend more at the vet, hear me out.
It’s not because of the pet insurance that insured individuals go to the vet more often, but it’s the affordability. Those that have pet insurance feel confident that they can help their precious pets when they need it instead of hoping and praying that their pet gets better on its own.
With the right pet insurance, you know what coverage you have and the amount so you have access to vet care that would be out of reach without it.
Research has shown that the top reason pet parents avoid the vet is because they were worried they wouldn’t be able to afford it.
Pet insurance saves us money
The fact that pet insurance saves you money while also making you spend more is probably making a little more sense now.
You’re more likely to spend more at the vet and ask for more services because pet insurance gives you peace of mind. But because you’re more likely to visit the vet and get the tests your pet needs, you’re more likely to save money.
This is because these tests lead to preventative care for your pets. You’re more likely to find any illnesses or ailments in their early stages rather than ignoring your pet’s symptoms. By catching these issues early, the treatments could be less invasive and a lot cheaper. And another bonus is you have a higher chance of saving your furry friend’s life!
Of course, there are so many ways that pet insurance saves you money – from vet visits to routine care to hospital admissions. With pet insurance, you don’t have to fixate on the bill but rather on getting your pet back into peak health.
It’s pretty interesting how pet insurance changes our behaviour in the sense that we’re more likely to seek out vet care rather than avoid it.
I don’t know about you but in times like these, I am so grateful for pet insurance so I never have to worry about protecting my fluffy family members.
Until next time,
The petinsurance.co.za Team