WASHINGTON — Pets can be delightful and even help lower your blood pressure according to the Mayo Clinic. But prospective pet companions should be ready for a serious financial commitment.
Purebred puppies can cost hundreds to thousands of dollars. It can even be costly adopting from a shelter.
“That’s typically going to run somewhere from say $20 to $350. If you go to an animal rescue organization, that’ll be a little bit more expensive — maybe $150 to $400,” said Kiplinger’s Personal Finance editor Janet Bodnar said.
Pets need regular check-ups, vaccinations and preventive treatments and medicines. And those are just the things you can know to expect.
“An ear infection can cost anywhere from $100 to $250 dollars to address,” Bodnar said. “If you have a more serious injury it can add up to the thousands.”
The average vet bill to take care of a dog that eats something he shouldn’t is about $1,550. Resolving cat bladder stones can average about $1,900.
Insuring your pet can also be expensive. Typical pet insurance for a dog can cost between $30 and $150 a month, for a cat between $10- and $50 a month. And Bodnar said you’ll want to check the fine print.
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“With a lot of policies you actually have to pay the vet for the cost of care up front and then you submit your claim for reimbursement,” she said, noting that reimbursements might cover 60 to 90 percent of the cost.
Also realize some companies don’t cover pre-existing conditions.
“So, if you’re going to buy insurance, it helps to enroll your pet while they’re young and before they’ve been diagnosed with any kind of medical condition,” Bodnar said.
Bodnar recommends shopping around if you’re interested in pet insurance. You can begin by getting recommendations from friends with pet insurance or from your vet. You also can check Pet Insurance Review or PetInsuranceQuotes.com to give you an idea of what’s available.
