*By Carlo Versano*
It has become a hallmark of the modern millennial: Babies? Maybe later. Fur babies? Absolutely.
Seven out of 10 members of the millennial generation own a pet at an average cost of around $1,000 per pet yearly.
Given that pets are increasingly treated as family members, more animal owners want to insure them against accidents and illness.
Indeed, the gross written premiums for pets in North America doubled ー from $575 million in 2013 to $1.15 billion in 2017, according to the National Association Pet Health Insurance Association.
Whether that's a smart use of funds is another question.
Jeff Blyskal, senior writer for the [Consumer's Checkbook](https://www.checkbook.org/), one of the original consumer review outlets, told Cheddar that pet insurance is often not worth the price.
"You're treating the pets like children, so you want to protect them," he acknowledged. But with premiums costing anywhere from $30 to $60 a month for mixed breed cats and dogs, the totals add up fast.
The average monthly cost to insure a dog against accident and illness is $45, according to NAPHIA, while the average monthly cost for a cat is $28.
Pure breeds, Blyskal noted, will cost far more as they are generally more prone to congenital diseases. A purebred Dogue de Bordeaux (think [Hooch](https://www.imdb.com/name/nm1212798/) from "Turner & Hooch") costs about $400 a month to insure.
Premiums will also skyrocket as your pet ages, Blyskal warns. That's why the [majority of U.S. veterinarians](https://www.checkbook.org/national/pet-insurance/articles/Is-Pet-Insurance-a-Smart-Purchase-7096) don't recommend it.
While accident and illness plans are most common, there's a growing market for wellness insurance for routine pet care. "It's really a waste of money," Blyskal said. If you're going to insure your pet, "buy insurance to protect against the unpredictable stuff."
Even then, you might be better off negotiating with your vet when the bill comes due, Blyskal said.
For full interview [click here](https://cheddar.com/videos/the-costs-and-benefits-of-pet-insurance).
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
