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A lot of us invest a lot of time, money, and love into our pets. We want to make sure that our pet bills don’t break the bank because vet costs can add up quickly. Pet insurance may be beneficial for some of us with furry friends to help mitigate these costs. Independent financial advisor Jordan Schwartz of Strategic Wealth Designers joined us on the newscast to discuss the potential value of pet insurance.
“Over 85 million American families have pets,” Schwartz says. “That’s a big portion of the population that is also paying expensive vet bills. Protecting our furry friends, and therefore our wallets, can add up to huge savings. People can save thousands of dollars each year by having pet insurance, which is usually fairly easy to obtain.”
Pet insurance works similarly to normal insurance. You will pay premiums during the year, which will vary with coverage. Premiums typically range in the hundreds of dollar range. After you go to the vet, you will file a claim and can get money back on the visit.
“Policies can vary but it’s usually more than just routine visits that are covered,” Schwartz says. “My pup, Enzo, used to eat everything in sight, so his vet visits would add up. We have saved at least $6,000 to $8,000 by having pet insurance. Both routine visits and emergency vet trips may be covered by your pet insurance.”
Many employers offer pet insurance to protect you and your furry friend. To see additional stories surrounding business and economic news for Denver area, visit https://KDVR.com/Money and if you have a question for Jordan send an email to firstname.lastname@example.org.