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

A majority (77%) of pet owners are interested in a health reset in 2025 — and nearly as many (69%) are considering one for their pet, too.  

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

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

If their pet were to face a medical emergency, under half of pet parents surveyed would be financially prepared (49% — down 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 about 2024 (66%).

Even more, their furry friend still takes precedence: respondents’ relationship with their current pet was most likely to be top of mind when asked what they would consider most in thinking about getting a new pet (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, with rising inflation and pet aging, 36% think they’ll end up spending even more.

But regardless of cost, pet owners are not holding back on spending for their pets. Fifty-five percent said they do not have a regular budget for how much they spend on their pet.

More than a third of pet parents have found themselves loosening up on budgets with work or their family schedule impacting their care expenses (37%).

“While we know that rising costs are top of mind for 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 preventive treatments are key to keeping your pet happy and healthy, and there are more affordable options available to help ensure they get the care they deserve. We’re committed to providing support and solutions that make it easier for you to give your pet the best care without compromise.”

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

When they do need to leave their furry friend at home, pet parents would be most likely to consider asking a family member to pet sit or have their pet stay with them (64%), above hiring a pet sitter (23%) or boarding them at a pet lodging facility (16%).

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

“As we begin a new year, ensuring your pet is covered with the right insurance and care brings peace of mind for both you and your pet companion,” 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 PET OWNERS HAVE SHARED

• “Plan in advance. Living in a state where hurricanes hit makes you buy extra things for your pets in advance.”
• “Always have regular routine vet visits.”
• “That we never know when something will happen, so treasure each moment of every day.”
• “If you give them something from your soul, they will give it right back to you from their own soul.”
• “It’s actually very easy to teach an old dog new tricks.”
• “Their behavior will change over time. For example with dogs, they will be more tame and less hyper as they age.”
• “Pets give so much to their owners and ask for hardly anything in return. They freely give unconditional love.”
• “That pets are really family and if they aren’t 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.”
• “To trust my dog’s instincts when he’s trying to tell me something.”
• “Every animal has their own needs and quirks. If you pay enough attention to their routines and habits and reactions, you can learn how to help them and give them an even better life.”
• “We humans could 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 Nov. 28, 2024.