Pets give us immeasurable joy. But just like anything — or anyone — we treasure, they require tender loving care. And that entails expense.

Cost can be particularly daunting when it comes to chronic health problems — like diabetes, cancer and obesity — all of which are being diagnosed more often in pets. So, whether you have pet insurance or rely on savings, a financial plan for your pet is in order.

If pet insurance is your thing, shop for a plan that works best for your pet’s needs. You can usually choose among plans that cover injury due to accidents only, costs of both accident and illness, or routine wellness expenses. Some companies have various coverage maximums, while others have no annual ceiling for expenses.

Keep your long-term goal in mind: that’s freedom from financial concerns when making tough decisions about care.