Feb 8, 2026
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Many Canadians love their pets like family, but a Toronto woman is learning the hard way that pet insurance can become a financial burden as pets grow older.
Elaine Citter has had her bichon-poodle, Rosie, since she was a puppy (1). At 11 years old, Rosie remains a lively and loving companion, but Citter says the cost of insuring her has become “unmanageable.”
From reasonable premiums to a shocking bill
When Citter’s previous dog faced expensive veterinary bills, she decided to purchase pet insurance for Rosie.
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“Rosie is the best, she loves people,” Citter told CTV News (2). “I love her, she is amazing. She is my little shadow.”
Initially, the premiums for Rosie were reasonable, but over the last three years, they have steadily increased. In 2024, her monthly payment rose to $286. By 2025, it jumped to $470, and this year the company notified CItter that her pet insurance premiums for her beloved Rosie would cost her $866 per month.
“I can’t afford that with all the prices going up. I want to live comfortably and I want her to live comfortably but I can’t justify this kind of money,” said Citter.
Be prepared for when the unexpected happens. Protect your furry family member with Petsecure — they offer comprehensive coverage for up to 80% of vet bills.
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Why premiums are climbing
Citter’s policy is with 24PetWatch, whose parent company, Independence Pet Holding, told CTV News that rising premiums are common in the industry.
“Across the pet insurance industry, monthly premiums have risen in recent years as veterinary costs continue to increase. Advancements in veterinary medicine — such as MRIs, laser therapy, rehabilitation services, and other innovative treatments — have expanded the care available to pets, but they’ve also driven up the cost of veterinary services. As claim costs rise, insurers must adjust premiums to keep pace,” explained a company representative in a written statement.
Independence Pet Holding also explained that premiums can increase as pets age.
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“Because dogs and cats age more rapidly than humans, their health risks increase each year. These elevated risks can affect premiums at renewal, as older pets are more likely to need medical care,” the statement said.
Expert advice for pet owners
Brian Vines, a spokesperson for Consumer Reports, confirmed that pet insurance for younger animals tends to be cheaper. He recommends shopping around for coverage, particularly after a sudden price hike.
“People can self insure meaning you have a lockbox where you put that money in the event your pet does need some kind of service,” Vines said. Setting aside even $100 a month can create a safety net for future veterinary costs.
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The high cost of long-term coverage
Citter said she only filed a few minor claims and had a $500 deductible, but over 11 years she estimates she has paid $17,000 in premiums.
In hindsight, she now wishes she had created her own savings fund, instead.
“It’s very disappointing. It’s disturbing and I really wish I wouldn’t have bothered with insurance. I could have stuck $100 away each week for her and I would have been just fine,” she said.
Understanding insurance limits
Pet insurance can provide peace of mind, but it is important to know the limits of coverage. Many plans do not cover pre-existing conditions, and some require policyholders to pay up front and submit claims for reimbursement. Coverage varies widely, so reading policy documents carefully is essential.
For Canadians considering pet insurance, experts say it is wise to compare multiple providers, calculate the potential long-term cost and explore alternative ways to prepare for veterinary expenses. A dedicated savings plan can sometimes be more predictable and flexible than a policy with escalating premiums.
A cautionary tale for pet owners
Pets are part of the family, and we all want to give them the care they deserve — but sometimes the costs sneak up on you. Rosie is still a beloved companion, but her soaring insurance premiums are a reminder to plan ahead. Whether that means building a savings cushion, comparing policies carefully, or exploring other ways to cover vet bills, there are ways to keep your pets healthy without putting your own finances at risk.
Article sources
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CTV News (1)
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Leslie Kennedy served as an editor at Thomson Reuters and for Star Media Group, followed by a number of years as a writer and editor and content manager in marketing communications, before returning to her editorial roots. She is a graduate of Humber College’s post-graduate journalism program and has been a professional writer and editor ever since.
