Rising vet costs make pet insurance vital, report says

Tuesday, 27 September 2011 09:39

The average cost of owning a dog or cat can reach £17,000 over their lifetime, making pet insurance more important then ever, new research has shown.

Sainsbury's Finance estimated the amount of money owners shell out for a dog is around £16,900, while the corresponding figure for a cat is £17,200.

The report revealed that food accounts for 33.7 per cent of the average annual spend on a dog, and 41 per cent for a cat.

For vet fees, the corresponding figures are 15 per cent and 13 per cent respectively.

The study went on to point out that these numbers are set to rise dramatically because of vet fee increases of 15 per cent a year, making insurance cover vital.

Helen Williams, head of Sainsbury's Pet Insurance, said: "Looking after a pet dog or cat properly can involve a significant financial commitment. Costs can escalate as pets get older as they often need extra medical care and attention; with advances in veterinary treatment and better diets many will live well beyond their average life expectancy so it's important to have good pet insurance in place to pick up what could otherwise be fairly daunting costs."

Use the Myfinances.co.uk comparison tables to find the best deal on pet insurance 

• Tags:
• pet insurance
,
• product news
,
• sainsbury s