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Veterinary costs: how to deal with unexpected costs?

Blog | Various

The veterinary medicine is making great strides forward, with advanced treatment technologies increasingly accessible to our pets. Thus, more and more animal owners have to deal with high veterinary costs as the result of sudden illness or accident of their animal. How to face such costs?

Increasing costs

Each year, more and more treatments are made accessible for pets. Surgery, advanced medical equipment, animal hospitals, … Those are accompanied by major increase in costs. Thus, an accident requiring hospitalization and advanced treatments can be quite expensive. For example, the cost of a surgery goes from 400 CHF to 1,000 CHF per hour, plus various veterinary costs: analysis, exams, animal pension, … the total cost can quickly reach several thousand CHF.

Which solutions to face unexpected costs?

An animal owner who can’t pay unexpected veterinary costs may be faced with unwanted choices involving it’s companion’s health. In that kind of situation, there are several cases to be envisaged:

  • If the pet is insured: the insurance will pay most of the costs, according to the selected coverage.
  • If the pet isn’t insured: the owner can try to negotiate an arrangement with the veterinary clinic (monthly installment), or borrow some money (to friends and family, or with a personnal bank loan).

A pet insurance

This solution works roughly like a health insurance. Thus, the insured animal benefits from some coverage subject to a deductible. The monthly cost, however, is quite low, and the offered coverages are sufficiently complete to effectively protect the insured pet. As for a health insurance, it is also possible to compare different offers from different companies to choose the most suited solution. Asking for advice from a neutral insurance advisor (for example, our partner PrestaFlex Services) in order to comparer the different solutions on the market.

A personnal loan to pay veterinary costs

Obviously, a pet insurances will work only if you pet is insured before the accident or illness. If the need arises, a personnal loan is also a solution: to borrow some money in order to pay a veterinary bill. For all question related to a loan, our Multicredit team will be glad to help and assist you.