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Animal lovers 'spend billions on pets'

Animal lovers in the UK have spent more than £2 billion on purchasing cats and dogs in the last five years, according to a new study.

Halifax Pet Insurance stated that Britons have spent a total of £520 million a year on cats and dogs since 2002, which works out to £2.6 billion overall.

However, the firm warned that many are underestimating the financial impact of owning a pet, as expenses such as veterinary bills are higher than is widely thought.

Vicky Watson, spokesperson for Halifax Pet Insurance, said: "It is worrying that so few pet owners are researching the upkeep costs for their chosen pet before selecting an animal.

"The cost of upkeep between different breeds can vary enormously both in terms of food required and susceptibility to ailments that necessitate expensive treatment.”

She recommended that pet owners take out comprehensive pet insurance to mitigate the financial cost of providing expensive treatment for their animal.

Ms Watson said that those who do not could find themselves liable for expensive vet bills, as well as considerable financial and emotional pressure.

Research from Mintel recently revealed that four in ten pet owners find vet bills difficult to afford.

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13/04/2007 14:58:37

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