We love having pets in our homes because we love animals. The most common pets in Australian households are cats and dogs but some families also have fish, birds, ferrets, teacup pigs, mice and even snakes. Having these pets are all fine and dandy but the cost that comes with owning a pet can literally put a huge dent in your bank account. The cost of owning a pet can vary from one family to another depending on the type of pet they have.

Cost of Owning a Pet

The basics like food and upkeep can be very costly if you think about it for the long run. And since pets are for life, people should really consider all the costs and responsibilities of having a pet in their family. Some people think it’s cute to give a puppy or a kitten as a present but if the recipient isn’t ready for the responsibilities, it’ll be the poor animal that suffers in the end.

The cost of owning a pet is definitely unpredictable because even after you’ve figured out the food and upkeep costs, you still need to consider your responsibility for their health. Accidents do happen. And since pets can’t have Medicare and vets are never really cheap, you’ll need to find the right type of pet insurance. Of course, the pet insurance industry in Australia is possibly bigger than in any other country.

Pet insurance can vary from one insurer from another and there are also many different variables that are taken into consideration. Normally there are three types of insurance cover: accident only cover, accident and illness cover, and comprehensive cover which includes the previous conditions as well as routine checkups. Of these three types of insurance options, prices for each cover can still vary depending on the type of pet and the age of your pet.

There are many different policies to the different types of covers as well. Accident only plans cover injuries caused by accidents like car accidents and burns but it does not necessarily cover all types of accidents. The same goes for the illness cover: pre-existing illnesses and diseases are not covered, especially if there is a known vaccine for those illnesses. The comprehensive plan basically covers accidents, illnesses as well as routine care like health treatments, and potentially cover desexing, dental and vaccinations, all depending on the insurer.

Most insurers only offer pet insurance for cats and dogs while prices vary from one breed to the next; the rarer the breed, the more expensive it will be. Age is also one of the factors; pet insurance can get more expensive as your pet gets older. And if you have a different type of animal, it can be harder to find an insurer and the cost will be higher.

Owning a pet at home can be emotionally fulfilling but the cost of owning a pet can deter you from making that decision. The cost can increase year by year as your pet ages on top of the cost of food and upkeep. So if you’re thinking about getting a pet, consider all the pros and cons of having one before you actually do it.