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7 minute read Published on Dec 26, 2025 by BrokerLink Communications
Ever stared at a vet bill and felt your heart skip a beat? You’re not alone. Global News reports that veterinary care in Canada has skyrocketed since the pandemic. In fact, according to Competition Bureau Canada, Canadians spend around $9.3 billion per year on veterinary services. With emergency vet bills often running into the thousands, owning a pet can take a significant toll on your wallet.
That’s why this guide is here. We’re going to break down what pet insurance actually covers, what it typically costs in Canada, and most importantly, whether it’s worth it for your situation.
You’ll learn how average annual costs of owning a pet can climb from $960 to over $4,500, depending on your pet, its age, and health, the typical cost of insurance premiums for pets, and how insurance can be a lifesaver when your pet's life needs saving. This guide helps you decide if pet insurance is right for your pet and budget.
Pet insurance helps cover the cost of unexpected vet bills, including accidents, illnesses, or even some routine treatments, so you don’t have to choose between your pet’s health and your finances.
Just like other types of insurance, you pay either a monthly or annual premium to keep your policy active. According to a popular magazine for dog owners, Dogster, depending on certain factors, the average annual pet insurance cost in Canada is:
$570 for dogs
$340 for cats
When your pet gets sick or injured, you typically pay the vet bill upfront and then submit a claim to your insurance provider. If the treatment is covered, the insurance company will reimburse either all or a percentage of the costs (up to your coverage limit) after you’ve paid your pet insurance deductible, which is the amount you agree to cover before insurance kicks in.
For example, if your deductible is $200 and your vet bill is $1,000, you’d pay the first $200, and your insurance provider might cover 80% of the remaining $800.
However, some pet insurance companies may be able to reimburse your vet directly, so you don’t have to pay as much money out of pocket.
Pet insurance coverage can vary quite a bit depending on the provider and the plan, but most pet insurance policies fall into one of two categories: accident-only or accident and illness coverage.
Type of plan
How it works
Accident-only
Typically covers injuries caused by accidents, such as broken bones, cuts, or your dog swallowing something they shouldn't have.
Accident and illness
Typically covers the same as accident-only, as well as unexpected illnesses like infections, urinary tract issues, allergies, or even serious conditions like cancer or diabetes.
The most common type of pet insurance plan is an accident and illness plan. Here's what it typically includes:
Prescription medications
Emergency care and hospitalization
X-rays, MRIs, ultrasounds, and other diagnostics
Illness treatment (like viruses, infections, cancer)
Surgery
Pet insurance isn’t a blanket solution, so there are some notable exclusions, including:
Pre-existing conditions
Routine dental care
Food and nutritional supplements
Elective or cosmetic surgeries
Breeding and pregnancy
Some pet insurance companies also offer optional wellness or preventative care add-ons that you can add to your policy for an additional cost. These can include coverage for:
Dental cleaning
Spaying or neutering
Annual exams
Behavioural therapies
End-of-life expenses
Vaccinations and flea treatments
To learn more about what else can be included in a pet insurance policy, contact BrokerLink.
It's important to weigh the pros and cons of having pet insurance to help you decide whether it's right for you and your pet. Here's what to consider:
Pros
Cons
Pet insurance is generally straightforward. With fewer plan types than human health insurance, policies are simpler and easier to understand, making it less of a headache to compare your options.
Insurance premiums can be costly for older pets. If your pet is older or has a pre-existing condition, your premiums could be much higher.
Pet insurance for young, healthy pets can be surprisingly affordable. If your pet is still in their early years or you opt for a basic plan, you might pay less each month than you do for your favourite streaming service.
In most cases, you'll need to cover the vet bill upfront and then submit a claim for reimbursement. So if your pet requires an expensive procedure, coming up with the money right away can be a challenge.
You don’t have to switch vets. With pet insurance, there’s usually no hassle around eligible providers, as long as your vet is licensed in your province, your expenses should be covered. That means you won’t need to stress about whether your vet accepts your insurance or if your claim will be rejected because of who you saw.
Depending on the policy you choose, your insurance coverage might be limited. For example, routine medical care, such as check-ups or annual vaccinations, is usually not covered (unless you add them on for an extra cost).
Pet insurance can make it easier to visit the vet when your pet needs care. No one wants to be in the heartbreaking position of choosing between their pet’s health and a hefty bill. With coverage in place, you’re more likely to prioritize your pet’s well-being without the added financial stress.
Like with any type of insurance, you could end up spending more than necessary if your pet is healthy and only requires routine vet care throughout its life.
Deciding whether pet insurance is right for you comes down to balancing potential risks against your financial comfort zone. Here's who often benefits the most from pet insurance:
Puppies and kittens enrolled early often enjoy lower premiums and broader coverage before age-related conditions emerge. Breeds prone to hereditary issues, like Bulldogs (breathing problems) or German Shepherds (hip dysplasia), are also strong candidates.
If your dog loves off-leash adventures or your cat is a daring outdoor explorer, the chances of injuries (e.g., broken bones, foreign object ingestion) are higher. Emergency vet visits for accidents can easily range from $1,600 to $10,000 or more.
Global News states that vet care in Canada has surged 6% to 8% annually post-pandemic. And according to Rover.com, depending on the year and pet’s life stage, annual costs for medium-sized dog breeds can range from $1,440 to $4,500, and for medium-sized cats, $960 to $3,720.
Here are some situations in which you may decide you don't need pet insurance:
If your older pet already has pre-existing conditions, like arthritis or diabetes, most insurance companies won’t cover them.
Indoor cats or dogs that rarely go outside, and are generally healthy, have fewer chances of costly accidents or complex illnesses, making insurance potentially unnecessary. However, keep in mind that there is always a risk of unexpected potential vet expenses.
If you’ve built a sizeable pet emergency fund and you feel confident that you can handle covering high vet bills, you may be better off self-insuring, especially if you own low-risk pets that are generally healthy.
Pet insurance isn’t for everyone, and that’s okay. In fact, according to Dogster, only around 3% of pet owners in Canada have pet insurance. If you decide not to buy a policy, there are still some ways that you can prepare for unexpected veterinary bills without putting your finances at risk.
Just like you might save for car repairs or household emergencies, setting aside money specifically for your pet can offer peace of mind. A good target amount is between $1,000 and $5,000, depending on your pet’s age, breed, and lifestyle.
Many vet clinics now offer their own wellness plans. These are often monthly or yearly packages that cover routine care like checkups, vaccines, and dental cleanings. These aren’t insurance, but they can help manage expected vet costs and may come with discounts on additional services.
While not ideal, some pet owners may use credit cards, lines of credit, or specialized financing options like PayBright or Scratchpay when unexpected veterinary costs pop up. While these can be helpful in a pinch, it's important to keep in mind that interest charges can add up quickly if you don’t pay them off promptly.
The answer depends on your pet, your budget, and your personal comfort with financial risk. But for many Canadian pet owners who have it, the answer is yes, for the peace of mind alone. In fact, 22% of pet owners with insurance say it was a “life-saver,” according to Global News.
No one can predict the future. Your pet might stay perfectly healthy for years, or they could suddenly need surgery after swallowing an object, develop a chronic condition, or get injured in an accident. Pet insurance helps you prepare for those “what ifs” so you’re not left scrambling when something unexpected happens.
That’s why it’s smart to consider enrolling while your pet is young and healthy. Premiums are lower, and you’ll avoid being locked out of coverage for conditions that develop later. Waiting until your pet is older or already in need of treatment often means higher costs and fewer benefits.
If you still have questions about pet insurance Canada, contact BrokerLink. Here at BrokerLink, we understand that pet ownership can be expensive. Our licensed insurance advisors can help answer any questions you may have about pet insurance, as well as help you decide whether having pet insurance is worth it.
If you're looking to buy pet insurance in Canada, we can also help you find the best pet insurance policy for your needs and budget. At BrokerLink, you can find comprehensive pet insurance through our partner, Fetch Pet Insurance, where their pet insurance plans cover even more than what you may find from other insurance companies. Plus, BrokerLink customers qualify for 10% off their plan every month for life.
Get a pet insurance quote1-866-381-1946
