Sainsburys Bank has conducted a study into the cost of pet ownership to tie in with the pet insurance they offer. Findings show that owning a dog can take up around GBP9,000.
The figure quoted is the lifetime cost of ownership which includes the initial purchase of the dog as well as food, accessories vet bills and pet insurance. Sainsburys Bank also looked at the cost of owning a cat, which came in slightly lower at just over GBP7,000.
The survey also showed that pet insurance can actually reduce the overall cost of keeping a pet, since the survey included those without it who had to pay all vet bills themselves. Sainsburys Bank want all pet owners to consider the cost aspect of keeping an animal before going ahead to ensure both pet and owner have a long and pleasant relationship.
Following on from a programme on the BBC that showed the issues facing some pedigree dogs More Than Insurance is advising all pet owners to understand the specific needs of their dog so they can make sure they can receive the best veterinary care.
More Than Insurance would like all pet owners to check their existing pet insurance policies, or consider buying one if they do not have one already, so that their pet will be covered for the main ailments it can suffer from.
The BBC programme showed how dogs have been changed through breeding and the problems this has caused. The problems are many and varied so More Than Insurance urge owners to do the best for their pet and get proper pet insurance in place.
Having looked at the situation for pet owners in the UK Sainsburys Bank has found that over a million owners do not have any insurance cover in place for their pets.
The answers provided by respondents to the Sainsburys Bank study shows that around half of pet owners do not think they need pet insurance. Of these most thought it was not necessary no matter what whilst a smaller percentage said they felt it unnecessary because their pet was in good health.
As a Sainsburys Bank spokesman explained, cats and dogs get ill just like people do, but there is no NHS for pets, hence the need for pet insurance.