Pet insurance can help keep costs for your furbaby in check

FILE - A woman plays with her dog at sunset, Saturday, Nov. 6, 2021, at a park in Kansas City, Mo. New pet owners need to prepare for the cost of medical care. Each year, dog owners spend an average of $242 on routine visits to a veterinarian and $458 on surgical visits, and cat owners spend slightly less, according to the American Pet Products Association. (AP Photo/Charlie Riedel, File) FILE - A woman plays with her dog at sunset, Saturday, Nov. 6, 2021, at a park in Kansas City, Mo. New pet owners need to prepare for the cost of medical care. Each year, dog owners spend an average of $242 on routine visits to a veterinarian and $458 on surgical visits, and cat owners spend slightly less, according to the American Pet Products Association. (AP Photo/Charlie Riedel, File)

By KATIA IERVASI / NerdWallet via The Associated Press December 18, 2021 4 min read

You might be thinking of adding a furry friend to the family during the holidays. And you’ll be in good company: 70% of U.S. households have a pet, according to the 2021-2022 American Pet Products Association National Pet Owners Survey.

As cute as pets are, they’re a financial commitment. Americans spent $103.6 billion on their pets in 2020 alone, APPA says.

Some expenses, like food and shelter, are predictable. But if your new puppy or kitten gets sick or injured, an unexpected medical bill can derail your budget. For a growing number of Americans, pet insurance provides peace of mind.

THE COST OF VETERINARY CARE

Medical issues are almost inevitable for pets, and costs are likely to rise, says Kristen Lynch, executive director of the North American Pet Health Insurance Association, or NAPHIA.