Dog Parents Spend This Much on Pet Insurance Each Year

Dogs make great pets, so it's no surprise that so many people choose to adopt them. A dog is an excellent choice if you want a furry companion to spoil. But before adopting any pet, it's essential to consider your financial situation to ensure you can properly care for your new pal.

Some pet parents invest in pet insurance to help cover the cost of care. If you're considering bringing a dog home from your local shelter, you may want to research pet insurance policies first. Let's take a closer look at how much dog parents are spending on pet insurance.

Pet insurance is an additional expense to consider

There are many costs associated with owning a dog. While you're not required to purchase pet insurance, it can be helpful. Pet owners can use their pet insurance policies to get reimbursed for eligible pet expenses, like medical costs. You may feel more peace of mind investing in insurance before adopting a dog. Insurance coverage can vary, so compare policies and research multiple pet insurance companies to find the right coverage for your pet.

Fur parents are spending up to $1,200 each year on insurance for their dogs

Rover's The Cost of Dog Parenthood in 2024 examined how much the average pet owner is spending on dog care. The study examined various costs, including pet insurance. According to the study, 45% of dog owners have pet insurance. An impressive 93% of those who carry pet insurance feel the expense is worth it.

How much are dog moms and dads paying for pet insurance? They pay between $10 and $100 monthly or $120 to $1,200 annually to insure their dogs. That's quite a vast range, but it shows that pet insurance can be pricey. It's wise to carefully research pet insurance options and policy prices before buying coverage to know what to expect.

A pet illness or emergency can significantly impact your wallet

No one expects their dog to get sick or have an emergency. But, unfortunately, these situations happen and often occur when we least expect them. You'll want to feel confident that you can provide them with the best care possible if they need your help.

If you don't have a sizable emergency fund, dealing with the cost of an emergency visit to the vet can be stressful. The last thing you want to face is the added stress of an expensive credit card bill. You may risk accumulating credit card debt if you don't pay the entire statement balance. The good news is you can prepare before you find yourself with an unexpected vet bill.

Many soon-to-be pet owners invest in a pet insurance policy before adopting a new friend. With the right pet insurance policy, you can feel less financial stress if you ever have to deal with a pet emergency. This can allow you to fully focus your time and attention on your pet's needs.

Dogs are a commitment

Dogs are very loving creatures, and they make great family members. But make sure you're not making an impulsive decision. Research from Rover shows that the cost of dog care can total $870 to $4,565 during the first year of ownership.

Before becoming a dog mom or dad, the best strategy is to review your personal finances and research average dog care costs before bringing your new furry family member home. For more information about pet insurance, check out our free pet insurance resources.