*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).
Raina Moskowitz, CEO of The Knot Worldwide, unpacks the 2025 Global Wedding Report, from Gen Z trends to how Taylor Swift's wedding could reshape the industry.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
