Man’s best friend gobbling-up man’s savings

Posted 2007-12-12

Veterinary fees have begun to top the list in the greatest expenses associated with pet ownership – sending an increasing amount of Britain’s wealth into the pockets of veterinarians. 

Healthcare for humans and pets alike is always of primary concern; but new information compiled by insurer Direct Line, shows 22% of dog owners have struggled significantly to pay for the expenses associated with treating their pets’ healthcare needs.

Nearly 18% of those polled revealed they had lapped-up their savings to meet the financial requirement of their veterinarian’s bill - while 8% sought loans from their family and friends to pay for “Fee Fee’s” care.

Nearly 11 million mollycoddling Brits are adding a combined £1.5 billion to the national debt for the sake of their beloved animals.

Head of pet insurance, Chris Price added, “When a pet gets ill the cost of treatment can add up quickly, so it is important to make sure that you have a plan in place to cover the bills.” For owners with no pet insurance, secured loans could be an alternative in order to meet the cost of veterinary treatment. In most cases, a secured loan with a fixed repayment period would be a more sound financial decision than turning to high-interest credit cards.

Moreover, pet owners should mind their veterinarian’s advice and keep pets at a healthy weight since obese pets are far more likely to require long-term treatment. Additionally, for those considering acquiring a pet, the average expenditure on dog food is now at approximately £209 per year. 

There is no doubt that the majority of pet owners agree that their pets are far more like family, than the antiquated idea of their pets being “just animals.” They’re precious and much adored by the entire family. Their endearing antics often tug at our hearts and most of us wouldn’t give up our fluffy, sleek or rugged companion for anything. So when illness or injury suddenly occurs, more often than not, owners have a knee-jerk reaction and dive straight from their hearts to their piggy banks to mend their friends. Therefore, when considering insurance products, remember to cover that darling little doggy with the waggily tail.

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