Next to food, vet bills and vaccinations are the biggest expenditure dog owners face, according to Forbes Advisor.

While 28% of dog owners said the vet is their biggest monthly cost, just 2% reported having pet insurance. Further, 37% of dog owners have never considered obtaining coverage for their furry friends.

Behind the low level of adoption are misperceptions about price, Forbes Advisor found. Nearly 90% of dog owners think pet insurance would cost more than it actually does. In fact, 76% overestimate the cost of pet insurance by at least three times the average price.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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