Aussies love their pets—and money seems to be no object when it comes to their health. New research reveals 54 per cent of pet owners have, or would consider, pet insurance. Even without insurance, 50 per cent would spend more than $1000 on treatment and recovery if their pet had an accident or was diagnosed with a serious illness, and 34 per cent would spend more than $2000.
The survey of an independent, nationally representative panel of 1000 Australian pet owners was commissioned by leading insurance comparison service comparethemarket.com.au to gauge how much Aussies are willing to spend on their pet’s health.
The research further revealed that younger pet owners are more likely to take up pet insurance than any other generation; and that 12 per cent of pet owners would spend more than $10,000 on medical costs if their animal fell ill. Interestingly, twice as many women as men would spend this amount on their beloved cat or dog.
Respondents were also asked how much they currently spend on medical, grooming, food, products and accessories for their pet. Fifty-eight per cent admitted to spending over $50 a month for these services. For 82 per cent of respondents, most of these costs are food-related.
“While many Australians may be dropping their health cover, the number of Aussies insuring their pet’s health is increasing,” comparethemarket.com.au spokesperson Abigail Koch said.
“Aussies love and see their pets as family members, and while they can be costly, many of us would do whatever we could to afford treatment if they were to fall ill or become injured. With pet insurance, Aussies could spend as little as $20 a month, depending on their level of cover, and save up to 80 per cent on expensive vet bills.”