Insurance puts a leash on pet expenses

Forty percent of pet owners surveyed said that pet insurance is too expensive, yet about the same number — 39% — said they’ve been saddled with an expensive vet bill.

Personal finance management Website LendEDU.com on Tuesday released the results of a survey of 1,000 American pet owners to see how much people spend on their pets. Insurance — naturally — was a hot topic as a way to curb expensive emergency care, as 20% of respondents said they have gone into debt caring for a pet, yet 61% said they do not have pet insurance.

 Other highlights include:

• 45% said they spend the same or more on their pet’s health care than their own;
• 39% said they didn’t know pet insurance was available;
• 11% have delayed having children or more children because of pet expenses;
• 10% missed bill payments because of a pet expense;
• On average, those with pet insurance pay $76.76 per month.