£145 billion dogs need pet insurance

Posted : 02-03-2006

Britain may be a nation of animal lovers, but a new report from Churchill has revealed the staggering cost of the country's canine population.

Churchill's Annual Cost of a Dog Report reveals that Britons' lavish £145 billion a year on their furry friends, with the average cost of keeping a dog over their lifetime exceeding that of a new Mercedes Benz C Class.

The report found that 90 per cent of people were unaware that the average cost for keeping a dog for its entire lifetime had soared to £22,000. This compares to £19,500 for the average wedding and £24,000 for a first-time buyer's deposit.

However, 52 per cent of owners believed the cost was less than £5,000. This £17,000 disparity between perception and reality may go some way to explaining the large number of people who do not take out pet insurance.

Figures from Sainsbury's Bank suggested that just 12 per cent of the UK's 13 million dog owners insure their pets. This is despite estimates which claim up to 40 per cent of the cost of owning a dog comes from vet's bills.

Saga Pet Insurance claimed the cost of treating a cat with a broken leg can be around £1,000, while cataracts for a dog could exceed £1,500.

Meanwhile, another pet insurance provider said it cost £553.09 to treat a cat with skin problems, while a dog with a serious tumour costs £2,977.57 to treat, making adequate pet insurance a financial necessity.

However, while the majority of the nation's dog owners do not take out pet insurance, they are perfectly willing to splash out on trivial items for their furry friends. One in ten owners admitted splurging on luxury dog collars, while eight per cent claimed they had bought designers collars for their dogs.


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