Are you considering adding a pet to your family? We don’t blame you – pets bring love, comfort, and excitement to our lives. Before you visit that rescue or make that deposit to a breeder, it’s important to understand the real cost of pet ownership! Sadly, it’s not just food and toys that need to be considered.
Let’s break down estimates of the expected (and unexpected) expenses of owning a pet in Canada. Of course, we’ll also touch on how pet insurance can help with unexpected vet bills.
The basics: What people expect
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Food & treats: Depending on your pet’s size, their diet, and the quality of their food, this can range from $300 to over $2,000 each year.
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Routine vet care: Annual check-ups, vaccinations, flea and tick preventions, and dental cleanings add up quickly. Expect about $300-800 a year but know that if you live in a major city, vet costs may be higher!
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Gear & supplies: Beds, bowls, leashes, litter boxes, crates, grooming tools, and a lot of toys are purchased in your first year of pet ownership. Budget at least $200 for these items.
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Licensing & microchipping: Most Canadian cities require pets to be licensed, and microchipping is strongly recommended. These are typically one-time or annual costs under $100.
The hidden costs: What people don’t expect
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Emergency vet visits: Unfortunately, accidents happen. A swallowed sock, a broken bone, or a sudden illness can lead to a vet bill in the thousands. These are the moments when pet health insurance can seriously help.
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Chronic conditions & medications: Any pet can develop long-term conditions that require vet care or medication like diabetes, arthritis, or allergies. These meds aren’t cheap!
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Specialized care: If your pet needs to see a veterinary specialist (like a dermatologist, cardiologist, or surgeon) the care will cost way more.
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Training & behaviour support: Many dog owners will buy into puppy classes or specialized training to help with the basics, anxiety, reactivity, and more. Training is optional but a cost to consider.
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Pet sitters & boarding: If you’re heading out of town, you will likely need someone to care for your dog or cat while you’re away.
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Home & lifestyle changes: Taking steps to pet-proof your home, replacing chewed up shoes and scratched up furniture, or upgrading to a vacuum that can handle all the sudden fur are all costs we recommend budgeting for!
What’s the total?
It will always vary depending on your pet, your lifestyle and location, but most Canadian pet owners spend about $2,000 to $4,000 on their pet each year. Of course, this number would be drastically higher if their pet had an emergency or unexpected health issue.
How does pet insurance help?
With pet insurance, you’ll pay a monthly premium that will vary depending on each pet. You’ll likely pay between $150 and $800 in premiums for their coverage. While these amounts might seem like a lot, remember they’ll help protect you from vet bills that can be ten times more. If you’re considering pet insurance, check out our coverage plans and get a quote for your pet.
The bottom line
While they might be an investment, pets are a special part of our lives. They become family and should be cared for as such. Amongst the chaos and accidents will be snuggles and memories you will cherish forever. Responsible pet ownership starts with research and preparation, so you’re already off to a good start!
Please note: Petline Insurance Company is not licensed or qualified to give financial advice, and that the article should not be considered financial advice.