Money News
Vet fees are rising - average prices in London have gone up by about 15% over the past year, those in the rest of the South-East are up 10%, while elsewhere in the UK they have increased by between 6 and 8%. Yet fewer than a third of Britain's seven million dogs and just 17% of cats are covered by pet insurance, according to research organisation Defaqto.
Animal-loving Britons have collectively spent £2.6 billion purchasing pet cats and dogs in the last five years - that's £520 million each year - according to research from Halifax Pet Insurance. During that time, dog lovers spent £2 billion purchasing canines at an average of £282 per animal, while cat lovers spent £639 million buying felines in the last five years at an average of £92 each.
Nor do the expenses stop there. Considerably more than half (59%) of cat and dog owners admitted that they didn't investigate simple costs such as food or veterinary care before taking on their pet. Owners underestimated the cost of vet bills by a massive 103%.
You need to shop around to find which type of insurance suits your needs - and expect to pay according to your postcode, because of the variations in fees around the country.
Read more: Pet Insurance or The truth about cats and dogs
18 April 2007 © Moneyextra.com
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