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One In Ten Pet Owners Would Spend Over $3,000 To Save Their Animal

Approximately one in 10 dog or cat owners is willing to spend more than $3,000 on medical procedures if it meant that their pet could be saved, according to a recent survey conducted by the Kroger Co. on behalf of its personal finance division.

Meanwhile, a majority of pet owners (61%) Kroger surveyed said they would be willing to spend between $100 and $1,000 to save Fluffy or Fido’s life.

Another 15 percent is comfortable spending between $1,000 and $3,000 for life-saving medical care for their pet.

“Determining how much we are willing or able to spend to sustain the life of a pet is a decision none of us ever wants to make, but given the rising cost of pet health care, it’s often an inevitable one,” said Dr. Jennifer Coates, a Colorado-based veterinarian and author. “Even for young pets, planning ahead and budgeting for the costs of pet health care, including cat and dog insurance, can help you feel more prepared when facing a serious health situation with your pet.”

When asked what they fear most about their pet’s well-being, about one in four of dog owners said cancer (27%), followed by hip/knee/leg injury (17%) and getting hit by a car (16%). The biggest concern for cat owners was kidney disease (19%), cancer (17%) and injuries sustained by fights with other animals (10%).

Only a small percentage of the pet owners surveyed by Kroger said they have pet insurance – 4 percent of dog owners and 2 percent of cat owners. However, 61 percent of dog owners and 48 percent of cat owners said they would consider purchasing pet insurance if it costs under $20 per month.

Interestingly, at least half of pet owners (55% with dogs/51% with cats) would be interested in adding their pets to their own health insurance plans, if such a thing were allowed.

“Americans spend more than $13 billion a year on pet health care,” Dr. Coates said. “Veterinary care has become increasingly more sophisticated and expensive, with some life-saving treatments running as high as $5,000 or more. Those potential out-of-pocket costs are what make pet insurance a prudent investment. And from an emotional standpoint, pet insurance keeps owners from having to ask that dreaded question, ‘how much can I spend to keep my pet alive?'”

The online survey was conducted in April of more than 300 adults ages 18 and older who own at least a cat or a dog.

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Samoyed2020
Samoyed2020
9 years ago

I’d be more likely to get pet ins if it actually covered everything that wasn’t routine care.  But all the reports say it doesn’t pay off.   I’ve heard it won’t cover things a breed is likely to get, like hip dysplasia.  I’ve heard it won’t cover preexisting conditions even if they’ve already been treated.  Does it cover automobile accidents, attacks from other animals??

Sarah Detrick
9 years ago

I spent $4k for my dog to have a metal plate in his knee 2 years ago, and I would do it again.

Amandajane
Amandajane
9 years ago

I would like it if a vet offered in house insurance. I would be willing to pay a monthly/ yearly charge in exchange for discounted routine visits and testing. Now that my dog is a senior it’s better if he is checked a couple times a year. It’s easier to pay locally or through work than have to take out an additional plan. Thanks for posting, very interesting.

M Ward1993
M Ward1993
9 years ago

I would give EVERYTHING I own to save my family. Thats an easy decision for me! How could you not?

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