Australia is officially a nation of pet lovers. With one of the highest rates of pet ownership in the world, we have around 25 million pets living in almost 63% of all Australian homes – that’s 2 million more pets than people in our population. The majority of these are cats (29%) and dogs (39%), and as almost all pet owners consider them part of the family, it’s no wonder we’re spending big on our furry friends.
Did you know that over the lifespan of the average dog, owners will generally spend more than $25,000 on their canine companion? For cat owners, this figure is around $15,000. This includes things like vet services, clipping and grooming, training, therapy and boarding. The pet industry is now worth around $8 billion a year, with people prioritising spending on their pets as they would a member of their family.
It’s not hard to imagine why pet owners are willing to spend so much on their furry friends. Research shows that pet owners typically visit the doctor less often, have lower cholesterol and blood pressure levels, recover faster from illness and surgery and enjoy increased quality of life and companionship.
The cost of keeping your pet healthy
Every year, Australians spend over $1 billion on vet bills in order to keep their pets healthy. While medical advancements are giving pet owners more time than ever with their furry friends, the general cost of treatment has also increased.
Yearly figures show that dog owners have claimed over $8,000 for treatment for twisted stomach, $4,211 for cruciate ligaments, and $2,934 for inflamed intestines. Cat owners have claimed $6,643 for tumours, $2,943 for ligament tears and $2,895 for pneumonia treatment*.
This is where pet insurance can help. Depending on your level of cover, you can receive up to 80% back from eligible vet bills, helping you keep up with the cost of pet ownership. Get a quote today to find out more about looking out for your cat or dog’s health.
11 Mar 2015