Less than half of pet owners have money to deal with a medical emergency: survey

A majority (77%) of pet owners are interested in a health reset in 2025 – and almost as many (69%) are considering one for their pet as well.

A survey of 2,000 dog and cat owners compared pet priorities and spending this year to last year. Why the focus on health?

The annual survey found that pet parents are taking a proactive stance. Only half of those whose pet experienced an unexpected health event in 2024 were financially prepared for the cost (52%), up from 82% who said the same in 2023. On average, this event cost respondents $560.80 dollars.

If their pet were to face a medical emergency, less than half of parents surveyed would be financially prepared (49% – up from 59% in 2023).

These costly circumstances contribute to why fewer pet owners are interested in getting a new pet in 2025 (27%) than those who said the same for 2024 (66%).

What’s more, their furry friend still takes precedence: respondents’ relationship with their current pet was most likely top of mind when asked what they would consider most when considering getting a new animal (25%).

The survey conducted by Talker Research for MetLife found that the average pet parent spent $2,085.60 on their four-legged friends in 2024.

While 45% anticipate spending the same amount of money on their pet in 2025, as inflation increases and pets age, 36% think they will end up spending even more.

But despite the cost, pet owners aren’t holding back on spending on their pets. Fifty-five percent said they don’t have a regular budget for how much they spend on their pet.

More than a third of pet parents have found themselves on tight budgets with their work or family schedule affecting their care costs (37%).

“While we know rising costs are on the minds of many pet owners, it’s important to remember that investing in your pet’s health today can save you from bigger challenges tomorrow,” said Brian Jorgensen, CEO of MetLife Pet Insurance. “Quality care and preventative treatments are essential to keeping your pet happy and healthy, and there are more affordable options available to make sure they get the care they deserve. We are committed to providing support and solutions that make it easier for you to give your pet the best care without compromise.”

The cost of care may be top of mind when respondents think about their busy schedules and travel implications; The thought of leaving their pet at home makes them feel anxious (48%) and sad (48%) most of all.

When they have to leave their furry friend at home, pet parents are more likely to consider asking a family member to sit or stay with them (64%) than hiring of a pet sitter (23%) or boarding. those in a pet shelter (16%).

Avoiding separation is a focus – as pet parents are keen to enjoy time with their canine and feline friends, reflecting on some of their favorite pet memories from 2024 as spending quality time together (60% – doubled from 32% in 2023), playing with them (47% — from 29% in 2023) and taking pictures with or with them (31% — from 10% in 2023).

“As we begin a new year, making sure your pet is covered with proper insurance and care brings peace of mind for both you and your pet,” said Jorgensen. “With that security in place, you can worry less about the unexpected and focus more on spending quality time together, knowing that whatever comes your way, you and your pet are prepared to tackle the future together.”

LESSONS THAT PET OWNERS HAVE SHARED

• “Plan ahead. Living in a hurricane-prone state has you buying extra pet supplies in advance.
• “Always make regular routine visits to the vet.”
• “That we never know when something will happen, so appreciate every moment of every day.”
• “If you give them something from your soul, they will give it back from their soul.”
• “It’s actually pretty easy to teach an old dog new tricks.”
• “Their behavior will change over time. For example, with dogs, they will be more mellow and less hyper as they age.”
• “Pets give so much to their owners and ask for nothing in return. They freely give unconditional love.”
• “That pets really are family and if they’re not happy, neither are you.”
• “The importance of being patient and attentive to my pet’s needs. Whether it’s noticing small changes in their behavior or giving them extra love during stressful times, being present makes a big difference.”
• “That my pet’s quality of life depends on me.”
• “I trust my dog’s instincts when he tries to tell me something.”
• “Each animal has its own needs and characteristics. If you pay enough attention to their routines, habits and reactions, you can learn how to help them and give them an even better life.”
• “We humans can learn from their loyalty.”

Survey methodology:

Talker Research surveyed 2,000 dog and cat owners; the survey was commissioned by MetLife and administered and conducted online by Talker Research between Nov. 25 and November. 28, 2024.