Continuing our series from: Is Pet Insurance Worth It? Part 1

do you need pet insurance

What if you had to take care of all these cute pups?

What is Credit Card Care vs Insurance?

Users of everyday credit cards will recognize that said cards are used for expenses that occur as they happen. Insurance is pre-paid (usually a monthly payment) against a point in time when the need occurs.
CareCredit is a health financing credit card which you apply for and is subject to approval. Their veterinary option says:

From routine appointments to emergency situations or surgeries, the CareCredit card gives pet owners the peace of mind needed to care for pets big and small.

Unlike traditional pet financing or veterinary payment plans, the CareCredit credit card gives you the flexibility to use your card again and again for your pet’s procedures.

These are just some of the small and large animal care procedures you can use the CareCredit card for:

Routine veterinary

    • Annual check-ups
    • Teeth cleaning
    • Parasites
    • Dermatology
    • Rehab
    • Medication
    • Diagnostics
    • Care of chronic pet diseases and conditions
    • Dog chemotherapy
    • Vaccinations
    • Microchipping
    • Pet food and nutrition

Veterinary surgery & emergencies

  • Spay and neutering
  • Emergency services
  • Surgical procedures
  • Hip-dysplasia surgery

It’s a way to pay for the costs of many treatments and procedures and allows you to make convenient monthly payments. CareCredit is accepted at over 200,000 providers nationwide for LASIK and Vision Care, Cosmetic and Dermatology Procedures, Dentistry, Veterinary, Hearing Care and other specialties.

Credit cards can be expensive if you need to use them. The default Annual Percentage Rate (APR) for CareCredit is 26.99%. However, when financing large amounts, they have two options that allow you to defer interest and make month payments for the term periods:

Our No interest if Paid in Full Within 6, 12, 18 and 24 month financing options (sometimes called “Deferred Interest”) let you pay for purchases of $200 or more with minimum monthly payments made throughout the duration of your promotional period. Interest accrues during the promotional period but will not be charged if you pay your balance in full by the end of the promotional period.*

Our Reduced APR special financing options of 24, 36, 48 and 60 months are for larger purchase amounts ($1,000 or more for our 24, 36 and 48 month options with a 14.9% APR, and $2,500 or more for our 60 month plan with a 16.9% APR), letting you make monthly payments with a reduced, interest rate over the duration of your promotional period.

Full Circle Veterinary Care is an authorized provider for CareCredit and accepts their card for veterinary expenses you incur at our clinic.You can also apply for CareCredit in person at our offices. We have brochures for you. A credit decision is almost instant.

You can find out more about the CareCredit card online, apply for the card and read FAQ’s and testimonials from users. As an update: CareCredit has partnered with Pet’s Best to offer pet health insurance.

Let us move on to actual insurance providers for the comparison.

Trupanion is a pet insurance provider

From their site:

Trupanion offers more than traditional animal insurance Trupanion was created to help your four-legged family members get the care they need when they’re sick or injured. When your pet is unwell, the last thing you want to think about is the cost of medical care. Insurance will help take care of that financial burden so you can focus on getting your pet quality veterinary care. When it comes to cats and dogs, they deserve a lifetime of nothing but the best.

Our love of cats and dogs is why we provide comprehensive coverage for pets and strive to offer an exceptional insurance experience for pet owners. We can approve and pay bills directly to select veterinary hospitals within minutes, our customer care team is available to assist 24/7, and we have trained veterinary professionals working throughout our company to help us better understand the medical issues pets face. Because of these unique offerings, we consider ourself a step above traditional pet insurance and prefer to be known as medical insurance for cats and dogs. No matter what you choose to call us, rest assured that our policy has what it takes to help protect your pet.

trupanion pet insurance
trupanion pet insurance

You can view these graphics on the Trupanion site.
It is pretty straight-forward. You make a claim and they pay 90% of the eligible expenses. You can see what is eligible in the “What’s covered” column. Knowing “Whats not covered” is also key. Exam fees, wellness and preventive care and pre-existing conditions are not covered.

It is important to know that a pre-existing condition is defined as an illness or condition which occurred or showed symptoms prior to your pet’s coverage effective date. So your pet insurance coverage will not be excluded for what might be a hereditary trait in the animal, unless the symptoms are already showing for that trait.

You can view a Trupanion SAMPLE Policy.

What is the cost?

That is the 6 million dollar question.
For the purposes of this article, we did what most of our readers will do – we went to the Trupanion site and put in our requisite pet details and generated a quote. Using our test pet Oliver, who is a male, American Shorthair at 6 years, we came up with this quote:

As you can see clearly see in the chart, without a deductible, our 6 year old male cat is going to cost just over $130 per month to insure. Prices have also (unsurprisingly) increased since we first did the article in 2018. See the comparisons 2018 vs 2021.

2018 Pricing as a 6 Year Old Cat

Oliver Quote - as a 6 year old male, American shorthair cat

2021 Pricing as a 6 Year Old Male Cat
2021 trupanion quote 6yr male

We were curious if it would make a difference by age (Yes, it does) and plugged in age at 1 year old to get this quote:

2018 Pricing as a 1 Year Old Male Cat

Oliver - as a 1 year old male, American shorthair cat

2021 Pricing as a 1 Year Old Male Cat

2021 trupanion quote 1yr male cat

Oliver as a 1 year old cat is much less expensive to start.

Lastly, we wanted to know if there was a difference for insuring male versus female cats and we turned our pet into a female (virtually, of course). Yes, there is:

2018 Pricing as Female 1 Year Old

Oliver - as a 6 year old female, American shorthair cat

2021 Pricing as Female 1 Year Old

2021 trupanion quote 6yr female cat

Oliver (or Olivia) as a 6 year old female cat is less per month versus her male counterpart.

If you choose to pay a $200 deductible, you can knock off the better part of $50 on the premiums. Which many choose to do, judging by the, “Our Most Popular Choice” tag.

This gives you a hint of the rates for pet insurance. Obviously there are other variables to consider which we could not cover, like differences between individual breeds and pets with hereditary or pre-existing conditions.

To wrap up our series in Part 3, we are going to look at three more pet insurers – Healthy Paws, Figo and Pet’s Best.

FCVC hopes you find this insurance series for your pets useful for making a decision whether insuring pets is right for you, your pet and your lifestyle.

Our related articles – Is Insurance Worth it? Part 1 and Is Insurance Worth It ? Part 3

Attribution: From the websites: and Trupanion
Photo: jametlene-reskp-651411-unsplash