Staggering Figures Show Pets Could Be At Risk

11th February 2010 

Recent figures released by pet insurance comparison site Gocompare, show a worryingly low number of pet owners have their pet insured. Just 40 per cent said they have protected against expensive vet bills by insuring their pet.

With the average cost of owning a pet at £676 a year it is surprising to many that an extra £3.30 or £3.70 a month (for cats and dogs respectively) would be a "no-brainer". However, these are headline rates so expect to pay more than this. Some pet owners report paying hundreds of pounds a year and complain about insurance rising upon renewal due to their pet getting older.

Not surprisingly, food makes up just under half of the cost of ownership with £314 spent by each pet owner every year to keep their furry friend satiated. The second biggest expense for the pet owner though is spent at the local veterinary practice. According to these figures, an average of £241 is spent there each year.

While 60 per cent of pets are not insured, they are certainly pampered. These numbers show that some pets are the lucky recipients of more than £120 a year in all manner of treats from small food snacks to fashionable clothing.

Gocompare point out that trying to skimp on pet insurance can work against the pet owner. Why? Since the year 2000, pet insurance has become much more competitive so prices have had to stay low in order to attract customers. This should serve to help the 60% of uninsured pet owners who are 'at risk'. It should also help protect the wallets of the 20 per cent who could not afford to pay an expensive vet bill.

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