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Pet Insurance VS CareCredit

3 Mins read

Did you know that 67 percent of households in the United States are home to at least one pet—if not more. Only about 1 to 2 percent of the nation’s 90 million dogs and 94 million cats are insured.

The cost of annual check-ups and unexpected/emergency visits can get expensive. It’s extremely important to be sure that you have a financial plan set up that works best for you and your pet. Your three options when it comes to finding a plan: You can either buy pet insurance, pay out-of-pocket, OR you can open an account with CareCredit and receive a credit card.

Pet Insurance

Many pet owners purchase insurance plans but not all plans are appropriate for all pet breeds. Some breed-specific issues are not always covered. Therefore, it is important to do your research before deciding on which plan is right for you. Pet Insurance requires you to make the full payment at the time of medical services being rendered. Afterward, you are then supposed to submit a claim in order to be reimbursed. To be more specific, this is how the expense will be dealt with:

  1. When you visit the veterinary office you pay for the services as usual.
  2. Submit your claim online, either through an app, email, fax, or by mail.
  3. Get reimbursed for covered services.

There are many insurance plans to choose from, so take our time when deciding on which plan to get. Your accident and illness coverage will depend on factors such as your deductible, reimbursement percentage, and annual coverage limit. To break that down for you, you will need to meet a deductible before you are allowed to start getting reimbursed. There are some providers that have a per incident deductible, which means you would need to meet that amount for every incident and others that have an annual deductible that you would need to meet once a year.

Your reimbursement percentage is your covered costs. You can choose between 70%, 80%, and 90% options. Choosing a lower amount would result in a lower monthly premium and a higher amount would result in you receiving more cash back on your claims.

In terms of an annual coverage limit, make sure you pick whichever is best for you. Be aware that if you spend more than your chosen coverage, your insurance is not responsible to reimbursing you any money beyond that.

Here are the top 10 pet insurance companies you should consider.

In reality, pet insurance is a sturdy safe net when it comes to protecting you against unexpected costs. Though, many people view it as an unnecessary expense.

Here is another option:


CreditCare is an affordable alternative and can be sued for all approved services at over 175,000 providers. This option is most helpful to those with minimal health insurance. We all know that emergency veterinary care can be expensive and sometimes our financial situations are not prepared for that. Consider this your best solution if you are looking for immediate financial support.

Instead of having to show up to your veterinary office with out-of-pocket cash or ack, you can use your CareCredit credit card to pay for all or a portion of your medical expenses. Also, you pay it off similarly as you would a regular credit card. Typical options to pay the card off are 6, 12, 18, or 24 months financing with no interest charges.

If paid in full within the promotional period (this policy was put in effect as of July 2019) and if a $200 minimum in purchases has been made. However, usually if the cardholder requires a payoff period longer than 18 months, CareCredit will attach a 14.90% annual percentage rate (APR) to the monthly payment after the 18 th month until the balance charged is paid in full.

If you cannot afford insurance for your pet, it can be unfortunate from a financial viewpoint. If CareCredit sounds like the best option for you, you can apply for a credit card online here, or at your local veterinary office.

Also Read: Dental Insurance For Your Pet

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