“It was an accident!” Those words, often spoken mournfully, demonstrate that as common as accidents are, we are often unhappily surprised by them. And indeed, accidents are very common. In the United States, every 7 seconds a disabling injury is caused by a motor vehicle crash,* and 1 in 5 Americans visit the emergency room at least once a year.**

When you or a family member is injured, you know that your medical insurance will take care of a good portion of your medical bills, but there are additional expenses (medical and non-medical in nature) that can accumulate quickly. How can you financially prepare for this unhappy situation?

For many of us, pets are not just animals; they’re part of the family. When your pet becomes ill or injured, you want him or her to recover quickly. Veterinary medicine has made advances by leaps and bounds in recent years, but the cost of veterinary care has also increased dramatically: in 2006, Americans spent approximately $9.2 billion on veterinary care. For the year 2014, that amount leaped to $15.3 billion.* For many families, pet insurance is a practical way to manage the expense of providing their beloved pet with quality care.

Consider the following scenario that could possibly happen to you:

You’ve been hurt in an accident and you’re told it could be months before you can get back to work. Once the physical and emotional pain has subsided, you begin to think about practical matters – like your finances and how your family will get by without your steady paycheck.

You’re not worried because you obtained disability insurance long ago.

Most likely, however, your life has changed since then. Your income as well as your family have probably grown. And it’s possible that the coverage you have may not be enough to cover your current living expenses – like your mortgage, your monthly bills, or even your student loan payments. And suddenly you realize that your finances – and the savings you’ve worked so hard for – could quickly be devastated.