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Out-of-pocket healthcare costs aren't just for people anymore -- many American pet owners are unfortunately racking up some big "pet debts" for veterinary care. People love their pets and want to give them the best care possible. And veterinarians do heroic work of providing preventive care, treating pets' chronic conditions and age-related diseases, and helping pets live longer lives.According to analysis from Spot Pet Insurance, emergency veterinary bills can cost more than $5,000 per visit, pet hospitalizations can cost more than $1,500, and lifesaving pet care can cost tens of thousands of dollars. If you don't have pet insurance, the cost of caring for your furry friends could hit $50,000 or more.Let's look at a few real-life examples of how pet insurance can save you from "pet debt."Guinness, the underwear-eating dog ($14,662 of vet bills)Erin Mickles is the pet parent of Guinness, a friendly and adventurous dog who is sometimes prone to mischief. One time while on vacation out of state, Guinness ate a pair of underwear -- leading to a few days of vomiting and thousands of dollars of emergency vet bills. In fact, during one year, Guinness racked up a total of $14,662 of veterinary bills.Fortunately, Guinness's owners had pet insurance with Spot Pet Insurance. Mickles and her husband got reimbursed for a total of $12,889 of those vet bills (about 88%). Pet insurance helps people focus on their pet's recovery instead of worrying about having enough money in their checking account to cover their expenses.Spot Pet Insurance offers up to 90% cash back on vet bills and lets you visit any vet in the U.S. or Canada -- so even if you're away from home, you can still be covered. Spot also offers a 100% coverage option.Pet insurance for severe conditions and big vet billsSadly, pets can suffer serious diseases and medical issues like cancer and respiratory conditions, and chronic health ailments like diabetes and kidney disease. Spot Pet Insurance research shows a few of the most expensive treatment costs for serious conditions and emergency vet visits for dogs and cats: Medical issue Dogs' average treatment cost Cats' average treatment costs Cancer $4,500 $3,800 Swallowed foreign objects $3,500 $3,500 Diabetes $2,800 $2,400 Broken bone $3,000 $2,400 Heart murmur $1,200 $1,500 Source: Spotpet.com Not all vet bills are a one-time cost either. Some chronic ailments like kidney disease can be expensive every month, for years. The average monthly cost of treating kidney disease for a dog is $500, and it's $300 per month for cats.Pet insurance can help cover your pet for everything from regular vet checkups to treatment for the most serious and life-threatening conditions. And keep in mind that not every vet bill is within range of the average costs listed here -- some pets have more complex conditions or require advanced treatment that can be even more expensive.According to data provided to The Ascent by Spot Pet Insurance, some of the biggest vet bills that Spot covered in 2023 included:$17,000 for an emergency stomach condition$33,000 for an emergency respiratory condition$51,000 for an emergency cancer treatmentBottom lineDon't let your personal finances be derailed by the potentially huge costs of caring for your pet. Pet insurance can protect you from thousands of dollars of veterinary bills, especially if your pet develops a chronic condition or needs emergency treatment. People love their cats and dogs, and veterinarians can do amazing things to keep your pets living healthy, happy lives. And you don't have to pay for all the costs out of pocket. The best pet insurance companies can help.Alert: highest cash back card we've seen now has 0% intro APR until 2025 This credit card is not just good – it's so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!  Click here to read our full review for free and apply in just 2 minutes. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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