To learn more about the true cost of dog ownership, the MarketWatch Guides team consulted in the expert advice of Dr. Angela Beal, DVM, an Ohio-based doctor of veterinary medicine who has worked in private practice and taught vet technicians for 15 years.
Vet Care is the Most Underestimated Cost
Similar to our human trips to the doctor, veterinary care can add up quickly.
“People tend to underestimate the cost of veterinary care,” Beal said. “Although some pet owners budget for routine care such as vaccines and parasite prevention, they often forget to plan for unexpected illnesses or injuries. An emergency visit can quickly add up to thousands of dollars, and being unprepared can mean that people have to make difficult decisions about their pet’s care.”
Unfortunately, Beal is not exaggerating. Our data found that the average emergency vet visit is around $1,500 — and that’s assuming the dog owner has pet insurance. In fact, roughly 16% of pet owners said they’ve lost a pet because they couldn’t afford veterinary care, according to a recent MarketWatch Guides survey.
Costs Vary By Breed
If cost is an important factor in your decision to adopt a pet, you should do some deep research on the type of breed you’re planning to buy or adopt beforehand, taking their size into consideration.
“A dog’s breed and size can certainly impact their lifetime care costs,” Beal said. “Larger breeds will incur higher food costs. Most medications are based on weight, so larger dogs may also have higher medical bills.”
It’s not just size, either. “Some dog breeds are predisposed to certain health problems, which can raise veterinary costs,” Beal said. For example, French bulldogs typically weigh less than 28 pounds, but they’re known to be frequent vet visitors due to physical features that make them more prone to health issues.
How Can You Save On Dog Costs?
You can save some money by ditching the groomer in favor of an at-home shave or convincing your friends or family members to watch your pooch when you’re out of town. But if you really want to save on dog ownership costs, Beal says pet insurance is the best place to start.
“Although policyholders pay a monthly premium, insurance can cover a large portion of unexpected veterinary bills, which can significantly lower overall costs,” Beal explained.
What Pet Insurance Could Save You
Let’s say over the course of one year you spend $2,000 on your dog. With an 80% reimbursement rate, you would pay $400 out of pocket.
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