September is National Pet Insurance Month, and with nearly 60% of U.S. households owning pets—around 78 million dogs and 86 million cats—it’s a great time to think about how to protect your furry friends and your wallet. Tom Dock, Director of Communications at Noah’s Animal Hospitals, shared insights on pet insurance and how it can help pet owners manage the rising costs of veterinary care, especially during emergencies.

While pet insurance is popular in Europe and the UK, only about 2 million pets in the U.S. have a policy. It works differently than human health insurance. Typically, you’ll pay the veterinarian up front and then get reimbursed by the insurance company later. You also pay regular premiums and have a deductible, but the insurance can offset the costs of accidents or sudden illnesses.

There are many pet insurance companies, including Nationwide, Trupanion, and Embrace, and it’s important to compare them. Review things like premium rates, deductibles, and what’s covered—some policies include wellness care, while others only cover injuries and illnesses.

It’s a good idea to research insurance before you need it. Pet emergencies can be expensive, so having a plan in place is crucial. Other options include financing programs like CareCredit and ScratchPay or even keeping a separate credit card for pet expenses.

As you weigh your options, consider how pet insurance will impact your budget. For some, it can be life-saving, but others may prefer to save the money for potential future vet bills instead of paying monthly premiums.

For more information and to compare plans, you can visit review sites like BuyersGuide.org.