Pet Care Financing for Senior Pets

Our four-legged companions have given us so much love over the course of their lives that we want to make their senior years as comfortable as possible. Unfortunately, as our pets reach their golden years, life might become a little slower for them and they are more likely to develop health issues. These medical conditions often come with costly veterinary care and additional expenses.

With the right pet insurance, you may be able to cover most of these costs, but sometimes, insurance doesn’t cover everything you need. If this is the case, there are other options available for financing your senior pet’s care.

Buying pet insurance for older dogs and cats

If you do not already have insurance for your pet, be aware that most pet insurance companies will charge more for older pets, and some may not cover older pets at all. Furthermore, if your pet has any pre-existing conditions, these conditions won’t be covered by the insurance company. Thus, it is generally better to buy insurance sooner rather than later, even with older pets.¹

The cost of insurance can depend on many factors. Purebred dogs and cats, for example, can be more susceptible to certain diseases or hereditary conditions. Large breed dogs tend not to live as long as smaller dogs, and they may have more health issues at a younger age.² Factors like these can all affect what policy your pet is eligible for and how high a premium you'll have to pay.

Look for a company that will cover the most common diseases for older pets, such as arthritis, cancer, diabetes, or heart disease. Some pet insurance policies will only cover your pet’s care in case of accident or illness. This means that routine veterinary visits, dental care, vaccines, and preventative parasite medications are not covered unless optional routine care coverage is purchased. If your pet is relatively healthy, you might be satisfied with these policies, but older pets tend to need more care.³

It may benefit you to look for a pet insurance company that offers a full line of insurance options. These can range from routine care coverage, accident coverage, or accident and illness coverage policies. Depending on the coverage chosen, it can ensure expensive surgical procedures and routine care items are covered. Keep in mind, however, that more comprehensive pet insurance policies tend to have higher premiums.

Financing unexpected veterinary costs

On average, dog owners pay anywhere from $700 to $1,500 a year for routine care.² Additionally, costs for surgeries, medications, or other treatments can reach thousands of dollars. Emergency veterinary procedures, unexpected medical conditions, or sudden accidents could add to these pet costs.

Even if you have pet insurance, your insurance company may not pay the veterinarian directly. Instead, you’ll pay the veterinarian and your insurance company will reimburse you according to the terms of the policy. This means that you should set aside some money to cover vet costs so that you can live comfortably without those funds until the insurance company reimburses you. As your pet gets older, you may want to start a dedicated savings account to cover unexpected pet expenses.

If you’re struggling to cover veterinary costs, ask your veterinarian if you can negotiate the price of the procedure or if you can pay in installments.⁴ There are several other financing options you can consider as well. For example, some lenders, like CareCredit, offer veterinary financing for care at over 225,000 participating locations nationwide.

Finally, some charities and rescue organizations may offer affordable options for treatment or may assist with paying off veterinary costs, but these may be limited by breed, geographical area, or medical condition.⁴ Reach out to your local humane society or other pet organizations to learn more.

Saving money through good preventative pet care

Another way to help afford increasing veterinary costs is to practice good preventative pet care. Make sure to take your pet to routine wellness checks to catch early signs of disease. The earlier you catch a condition, the easier it will be to treat it.

If your pet needs any vaccines or preventative parasite medication, do what you can to ensure that they receive it. While there may be a slight upfront cost associated with these treatments, you will save more money in the long run.

It’s also a good idea to encourage healthy habits in your pet. Exercising your pet  through play and walks can help keep them fit. A healthy diet will reduce their risk of diabetes and other weight-related issues.

You can also save money by grooming and bathing your pet at home. You can even try brushing your pet’s teeth, which can reduce costly dental visits and prevent expensive conditions like periodontal disease. These practices will keep your pet both happy and healthy as they reach their senior years.

Conclusion

As your pet gets older, it’s important to help your senior dog or cat age gracefully& by keeping them comfortable and healthy. A good pet insurance policy is one of the things that can help reduce the cost of pet care. Pets Best is one option to consider for pet insurance policies.*

If that’s not enough to cover your older pet’s care, you might consider financing through CareCredit.** CareCredit offers financing for veterinary coststo qualified borrowers. Some plans may offer low interest rates or even 0% interest for an initial period of time.