Owners spend fortune on spoiled pets, but most don’t insure them

Pet-loving Britons are spending a fortune on their furry friends, but most aren’t insured against the sort of costs pets can incur, new research shows. 01_competition

A survey by leading insurance broker Policy Expert of 1,335 customers found that Britain’s famous fondness for animals means many of us are splurging thousands of pounds a year on pets.

But if the animal’s not insured, and an expensive Siamese cat or Pug dog gets run over and the owner wants a replacement, they could be out of pocket by a considerable sum. And without pet insurance there could possibly be veterinary bills to pay, which can run into thousands of pounds.

Pets are spoiled rotten by owners

When it comes to pampering and feeding animals, the sums spent by many pet owners are fairly eye-watering; taking into account all types of spending, including food, treats and sitting and walking services, some are spending well over £1,000 each year.

The survey shows that almost one in fourteen splash £1,200 or more every 12 months looking after their little friends, while just over one in five, 22%, shell out at least £600.

Another 39% spend between £275 and £600, and 33% up to £300.

Santa’s sack for furry family members too…

Such is the love and affection felt for pets that many are even given gifts on ‘big’ occasions, such as a pet’s birthday and at Christmas.

It may seem a little bonkers to non-pet owners, or even some owners too, but a little over one in two, 52%, shower their pets with presents at these times.

Another 24% admit to having given them gifts in the past, but a perhaps slightly less pet-nutty one in five, 22%, say they never have.

Most pets aren’t insured

Given that many owners are investing thousands over an animal’s life, it’s somewhat surprising that more don’t have pet insurance.

Pets can incur very large medical and dental bills. As with private medical treatment for humans, the cost can be astronomical, and the same goes for dental work, which pet insurance often also covers.

And on losing an animal, such as if it’s run over or simply disappears and never comes back (cats being most guilty of this with their wayward allegiances!), many owners will look to replace them. Again, the cost for doing so can be thousands of pounds (check out the price of Savannah cats or Lowchen dogs, for example!), and if the owner doesn’t have insurance, they’re not going to be covered.

Dogs are still the nation’s favourite pet

As you’d expect, the vast majority of the pet-owning respondents in the Policy Expert survey have dogs and cats. Dogs are the most popular pet, being owned by 44% of those surveyed, with cats coming second at 30%.

Fish are kept by 13% of households with pets, and rabbits are the fourth most popular for almost one in 20. Other pets owned include hamsters, guinea pigs, birds, lizards and ferrets.

Policy Expert

Policy Expert is an online Insurance broker, dedicated to helping customers find the insurance policy that’s right for them. Our customers are at the heart of everything we do, so we have a team of experts with a real passion for making sure people get the cover that’s right for them. Policy Expert is driven by a desire to help you find not only the best value insurance, but the right insurance for your individual needs.  For more information speak to an expert today on 0330 0600 604

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