Many people increasingly regard their pets as vital members of their families. Pets like cats, dogs and parakeets boost your mental health, give you a sense of purpose and can help remain more active. Before you bring home a pet for your family, however, you should learn about some of the primary costs associated with pet ownership.
Insurance
Pets factor into the type of insurance you should invest in as a pet owner. To help reduce your out-of-pocket veterinarian costs, you may decide to take out a pet insurance policy. The premiums on this policy can cost anywhere from $20 to $50 or more per month, on average.
Likewise, if you have renters or homeowner insurance, you must include your pet’s information on the policy. Some insurers raise your premiums if you have a certain breed of dog, such as a German Shepherd or Chow. Having this kind of insurance as a pet owner can significantly reduce your financial liability if your pet bites and injures someone.
Pets for Children
Having pet and home or renters insurance in place can prove especially helpful if you plan on adopting a pet for your children. Some of the better pets for children include:
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Goldfish
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Hermit crabs
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Parakeets
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Guinea pigs
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Geckos
Cats likewise make a good selection for children over the age of 10 to 12, as do dogs, particularly golden retrievers, labradors and collies.
Still, any pet can harbor the risk of causing an injury or illness to a child. You can mitigate costs related to allergies, dog bites, cat scratches and ringworms by investing in the right insurance for pet owners.
Food Costs
The cost of feeding your pet can also put a dent in your household budget. Depending on what kind of pet you have, you could spend as much as $120 to $550 a year on food and treats. When evaluating the options for your pet’s food, be sure to take into consideration recommendations from your vet and your own budget.
Vaccinations
You must also cover the costs of vaccines for your pet, particularly if you own a cat or dog. Vaccines for illnesses like rabies, feline HIV, distemper and kennel cough can range between $50 to more than $100. You may also have to get these vaccines yearly for your pet to remain compliant with your homeowner or renter insurance.
Veterinarian Care
Vet visits can cost upwards of $200 for even the most basic of care. If your pet needs more advanced care, like surgery, you could spend thousands of dollars. If you plan on bringing a pet into your family, you should set aside money for routine and emergency vet care.
Spaying and Neutering
As a responsible pet parent, you may decide to spay or neuter your pet. Spaying and neutering require specialized vet care. These procedures can cost anywhere from $200 to $500, depending on the type and size of your pet.
Grooming
Some pets require regular grooming to protect their fur and prevent matting, dry skin and fur loss. For example, if you own a Shih-Tzu dog, you may have to have it professionally groomed at least two to three times per year. The cost of grooming can range from $50 to $100 or more, depending on what pet salon you take your pet to and what kind of grooming services you choose.
Training
Finally, if you have a dog like a German Shepherd or Rottweiler, you may want to have it professionally trained to obey your commands. Dog training can cost between $30 to $80 per session depending on your local professional.
Adopting a pet is a large commitment of your time and your money. As you can see, costs of pet ownership can quickly add up, and it can be overwhelming for a brand new pet owner. Evaluate what your new pet will need and what you can afford before adopting a new pet for you and your family.
Written By: Katherine Robinson, a writer for Pet Insurance Offers
