Over a fifth of dog and cat owners put off vet visits due to increased costs

New research from Co-op Insurance reveals that almost a fifth (19%) of UK dog and cat owners are avoiding trips to the vet for their beloved pets due to increasing financial difficulties. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The rising cost of living and average vet bill claims, which reached £532 across 2022, are forcing many pet owners to make difficult decisions about their pets’ healthcare. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The study, conducted by YouGov on behalf of Co-op, sheds light on the challenges faced by the nation’s pet owners as they grapple with the financial impact of rising costs. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Worryingly, 20% of those delaying vet visits for financial reasons admit that another unexpected vet bill could render them unable to afford their pet. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

For those struggling to meet these expenses, 37% of dog and cat owners said they would need to take out a loan or go into debt to cover an unexpected vet bill. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Tragically, over 6% of cat and dog owners said they would have to consider giving up their cherished pets against their wishes. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Co-op Insurance data also indicates a 16% increase in the average pet insurance claim for vet bills throughout 2022, with average policy premiums at around £24 per month. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Andrew Nevitt, Head of Co-op Pet Insurance, noted that pet insurance can offer a financial safety net for pet owners facing higher vet bills, but nearly half (49%) of dog and cat owners do not have pet insurance. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

To address this issue, Co-op Insurance is working with FirstVet, a 24/7 independent digital veterinary clinic providing video consultations. All Co-op pet insurance policies include FirstVet as standard, offering free online consultations with UK-registered veterinarians. Since the start of 2023, Co-op has seen a 33% increase in the number of customers using the FirstVet service. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

FirstVet CEO David Prien said that the partnership with Co-op Insurance aims to make vet care more accessible and affordable for all pet owners, helping them manage their pets’ health without incurring excessive costs. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

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