According to Pet Keen Statistics, a significant number of South Africans own at least one pet, with dogs accounting for a sizable 50% of the total. Surprisingly, only 1% of cats and dogs in the country are insured. According to a survey conducted by News24 in 2022, 27% of the country's dogs and cats are without a home, emphasising the significance of adoption when looking for a four-legged companion.
Many people who seek out pet insurance always wonder if it is a worthwhile and beneficial item to add to their growing budget list. In this post, we look at a variety of pet insurance providers, examining how each of them meets the needs of fur parents and what their specific coverage includes. Additionally, we unpack how to set up a Pet Emergency fund to prepare for any unexpected events.
Dotsure Pet Insurance
Voted South Africa's number one pet insurance provider, we get your best pet insured in under 3 minutes. Dotsure takes the hassle out of making pet insurance difficult. They offer three options, all curated to fit your unique budget. With a list of health problems your pet might encounter in their lifetime, these options will have you sleeping with peace of mind knowing your pet is protected, enabling them to live their life to the fullest.
Learn more here: Dotsure Pet Insurance
Founded in 2007 and serving the needs of our beloved furry animals for almost 15 years, Medipet has established itself as a top insurance provider. They offer in-depth options, giving a comprehensive breakdown of services. Each plan is curated into a specifically manageable month-to-month payment plan.
Learn more here: Medipet
OUTsurance Pet Insurance
Since 1998, OUTsurance has been providing insurance services to its customers. They understand that your furry friends can face some risks in the backyard, and that's why they offer Pet Insurance as a smart choice. They have three different options: Accidental, standard, and executive, and each one is designed to suit your budget.
Learn more here: Outsurance Pet Insurance
Pet Emergency Fund
Creating an emergency pet fund is a responsible way to guarantee you have the money to cover unforeseen veterinary costs. We compiled resources in order to create a savings account for your pet, allowing you to have a small emergency fund in case your best friend gets sick or occasionally steals the 18 eggs off the kitchen counter (you might possibly know how that feels!). All of that merely deepens your affection and love for your four-legged companion.
Here are some steps to help you create your own pet emergency fund:
Remember, creating an emergency pet fund is a proactive step to provide financial security for your pet's well-being. While it may take time to build up the fund, even a small amount set aside each month can make a significant difference when a veterinary emergency occurs.
Set a budget
Determine how much you can comfortably contribute to your pet's emergency fund on a regular basis. Consider your monthly income, expenses, and other financial obligations to establish a realistic amount.
Try our free budget calculator: Free Monthly Budget Template (wonga.co.za)
Create a separate savings account
Open a dedicated savings account specifically for your pet's emergency fund. This will help you keep the funds separate and easily track your progress.
Determine a savings goal
Decide on an initial savings goal that will provide you with a solid foundation to cover potential emergency expenses. Aim for what is realistic in your budget, depending on your circumstances and the average cost of veterinary care in your area.
Set up an automatic transfer from your main bank account to your pet's emergency fund. By automating the process, you'll ensure consistent contributions without having to remember to do it manually.
Learn more here: Financial apps to make your life easier (wonga.co.za)
Reduce unnecessary expenses
Analyse your monthly expenses and identify areas where you can cut back. By trimming unnecessary costs, you can free up more money to contribute to your pet's emergency fund.
Research veterinary costs
Familiarise yourself with the typical cost of veterinary care in your area. Knowing the average prices for routine procedures, vaccinations, and emergency treatments will help you estimate how much to save in your fund.
Stick to your savings plan and avoid dipping into the emergency fund for non-pet-related expenses. Having the discipline to maintain the fund will ensure you're prepared when unexpected veterinary bills arise.
Preparation is key for the arrival of your new family member. Keep in mind all the "things" you need to purchase beforehand, making it a good strategy to start the fund months before your pet arrives. You will have enough time to buy all of the necessary goods for your Furry kid, and if you start an emergency fund before they arrive, you will have already built a fund that can help with yearly vaccinations to keep them healthy. A decent rule of thumb is to prepare six months prior; even more time might help a great deal.
Prioritize your pet's health
Regular veterinary check-ups and preventive care can help identify and address potential health issues before they become emergencies. By investing in preventive care, you may reduce the likelihood of costly emergency visits.
Keeping your furry companions' vaccinations up to date is a great preventative maintenance strategy for avoiding any debilitating illnesses or diseases. Here are a few conditions that your best friend may face in their lifetime, understanding them could help you add to your reserve of knowledge, helping you maintain your pet’s health.
- Canine Parvovirus Canine parvovirus - Wikipedia
- Canine flu Canine influenza - Wikipedia
- Canine distemper Canine distemper - Wikipedia
- Feline Calicivirus Feline calicivirus - Wikipedia
- Feline and Canine carnivore protoparvovirus Carnivore protoparvovirus 1 - Wikipedia
If you've ever had to rush your Furry family member to the vet, you know how quickly your billl can skyrocket, and when it comes to your greatest companion, a monthly fee to an insurance provider or an allocation to a designated savings fund is often a wise decision. They, too, deserve the best we can afford, and by doing so, we save them from suffering while relieving ourselves of a great deal of financial and emotional stress. So, think about these options and figure out what works best for you and your furry companions.