51% of Canadians would cut dining out before they'd cut pet costs, survey finds

What's driving pet costs higher?

Those trade-offs reflect real financial pressure. The Ontario Veterinary Medical Association's 2025 cost-of-care estimates put total annual ownership costs — food, supplies, insurance and veterinary care combined — at $5,118 for a dog and $3,726 for a cat, increases of roughly 24% to 31% over 2023 figures. Of that, routine veterinary care alone runs about $2,137 a year for dogs and $1,905 for cats, with professional dental cleaning as the single biggest line item.

Part of the increase comes down to inflation: The Canadian Veterinary Medical Association has pointed to annual vet-cost growth of 6% to 8%, well above Canada's broader services inflation rate of 3.1% in 2025. Consolidation is playing a role too. A handful of corporate chains now control more than 20% of Canada's roughly 4,400 general veterinary practices, and pricing across the industry has followed suit.

Thinking about pet insurance?

If you have a pet, you know the costs can add up fast: food, grooming, toys and especially vet visits. According to the Ontario Veterinary Medical Association, routine veterinary care for a dog can cost between $4,100 and $5,200 per year. And this doesn’t account for expensive emergencies. That’s why paying for pet insurance often ends up being more affordable than paying out of pocket for surprise vet bills.

Instead of absorbing big, unexpected bills all at once, Fetch Pet Insurance helps cover up to 90% of unexpected vet bills, and you can use any vet in Canada or the U.S. Fetch offers fast and easy reimbursements and you can customize your coverage to fit your budget. Get a free, no-obligation quote in just three minutes with Fetch Pet Insurance and rest easy knowing your fur-baby and your finances are protected.

How Canadian pet owners are coping

Budgeting is the biggest lever people are pulling. In Rover's most recent True Cost of Pet Parenthood survey, 37% of pet parents said they specifically save for surprise costs like vet visits, and 36% track their pet spending with a budget. Smaller numbers lean on pet insurance (18%), subscription savings on toys and treats (10%) or pet prescription services (7%). Still, roughly a third (34%) haven't explored any cost-saving options yet — and some are making bigger sacrifices to keep up: 35% have cut back on their own groceries or entertainment, and 15% have taken on a side gig.

Canadians are also shopping differently to manage rising prices. With tariffs affecting pet goods, 55% of pet parents say they now prioritize Canadian brands or locally sourced pet products, even if it costs more.

Next steps: Protecting your pet budget

If a surprise vet bill would strain your finances, a dedicated pet emergency fund is one of the simplest fixes. A high-interest savings account or TFSA earmarked for pet costs, topped up with $50 to $100 a month, can build a $1,000 to $5,000 cushion over time — enough to cover most non-catastrophic emergencies. Comparing pet insurance premiums before you need them, rather than after a diagnosis, is also worth the hour it takes, since coverage and exclusions vary widely between providers.

For the 90% of pet parents who say they actively think about ways to help their pet live a longer, healthier life, the extra planning tends to feel less like a chore and more like part of the job.