Having a pet can bring endless joy, combined with disbelief at what they can get up to when no-one is looking — and the associated vet bills that often follow. 

For dog owners, unexpected vet visits as a result of their beloved pet ingesting objects like socks, gloves and toys are common, particularly in the early years. Cat owners have their own set of challenges, dealing with the fallout from injuries that come with an adventurous or feisty feline.

Despite this, it’s clear we love our furry friends and are prepared to pay the price for their misadventures. Australian households are estimated to have spent over A$33 billion on pet services and products in 2022; in New Zealand the latest figures suggest NZ$1.8 billion.

Dog owners alone spend more than A$3,000 on average per animal each year in Australia, with cat owners spending an average of A$1,715 per animal each year.

Of that, 14 per cent is attributed to vet services, and the costs can quickly increase if a pet needs ongoing or emergency medical treatment. 

In 2022, 17 per cent of households with dogs and 12 per cent of households with cats had pet insurance, according to RSPCA Australia. The types of claims that insurers are seeing make a strong case for preparing for the worst, with common examples including ingesting foreign objects, skin allergies and ear infections for dogs, and bite wounds and abscesses for cats.

Michelle Le Long, COO of PD Insurance in New Zealand, says claims trends are similar each year and the uptake of pet insurance is growing, in part as a response to an increase in vet bills.

“The cost of vet treatments continues to rise alongside technological and medical advancements, and increasing costs for running vet clinics and recruiting / retaining quality staff,” she says.

Premium

You need to login to access this

Login

What are CIP Points? About ANZIIF Membership