How to avoid going into debt over a pet medical emergency

Pet owners all across America would more likely than not do anything for their pets, including shell out hundreds — if not thousands — in dollars to cover potential medical bills due to a pet-related emergency. Some of those bills can certainly rack up, and, if not properly prepared, could leave pet owners in serious debt.

NerdWallet Personal Finance Expert Kimberly Palmer joins Yahoo Finance to discuss how pet owners can avoid falling into debt over hefty vet bills and animal care costs.

Palmer shares insights into the affordability of pet insurance plans:
""What's important to know is that you can often buy pet insurance at a relatively affordable price. So, for example, the average cost for pet insurance for a dog is about $53 a month. It's important to know, though, and this is something that surprises a lot of pet owners, the price of your pet insurance actually goes up as your pet ages. And at the same time, because of inflation, we're seeing the price of pet insurance go up anyway... But it is definitely more affordable than if you suddenly have to pay for these unexpected medical bills because your pet does either get injured or needs some kind of medical care. ""

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[Davekoolskool]

Here are some tips to help everyone.

1. Don't get pet insurance from your employer if it is offered. If you ever leave, get laid off, fired, etc. and the employer sponsored policy is terminated then you need to get a new policy where pre-existing conditions will not be covered.

2. Look into getting a Care Credit credit card. Any medical purchase including vet above $200 can be paid in 6 months with no interest. So you can go to the vet, put the bill on the care credit card, get reimbursed from the pet insurance and put that towards the card then pay off the remaining balance over 6 months interest free.

Hope this helps.

[CoinOpTV]

worth having pet insurance - treat your pet like family

[brendaechols]

I have pet insurance and still come out with high vet bills.

[LKMMcLaw]

Reading this currently not due to debt but planned interventions such as dental care, where a quote of $2000 becomes $4000 and can go up to $8000 while the dog is under anesthesia!

[thisguy]

How would the insurance co know about pre existing conditions. just say no none.

[elementaryMusic]

Ear infection = green tea half cup 20 minutes cool down and add 2 teaspoons of apple cider vinegar. 5 drops to ten drops in the base of the ear. 😊 5 days later better

[grahamjones]

Get a gold fish, anything bigger will put you in debt.