In lieu of pet insurance, I put $20 a week into a separate ING account for my two dogs. I used to have pet insurance that cost me about $60/month, but whenever we needed to use it, there was always some sort of fine print that prevented us from getting anything back. So I turfed it and set up the additional account which nets me about $1000/year should anything unforeseen happen that requires a bit of coin. Routine visits, food, and other expenses are all done out of pocket so we keep the account for a rainy day. If it never gets used, at least I have been making a little interest on it in the mean time and I don't even realize it is there. Just an idea for those who are unsure about the insurance route.
The reason that we got pet insurance in the first place was, before we were insured (either through our own forced savings account or through pet insurance), one of our dogs needed back surgery to the tune of $4500. Being a little older or wiser now, I'd like to think that I wouldn't spend that type of money on a dog, even though we are more financially stable now than we were then. But I also couldn't just walk away from a 4 year old dog who, in hindsight, has gone onto live a pretty decent life since the surgery and is now 9.5. There's a line to be drawn somewhere, but you never know exactly where it is until you're forced to decide.
Without question, dogs are a money pit, even if they stay relatively healthy. Food, vaccinations, "minor" issues at the vet - they all add up. I don't even want to know how much we have spent on our dogs over their 9.5 and 6 years because, in my mind, the trade off is worth it.
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