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How Much Does a Pet Cost?

How Much Does a Pet Cost?

With an estimated 54 million pets in the UK at the moment, we really do appear to be a nation of pet lovers. Pets bring a lot of joy and companionship, from dogs and cats to fish and birds. They also come with costs, which understandably, pet owners happily pay!

Below, we will discuss how much different animals cost throughout their lifetime, from food to vet's bills. After all, even though each pet is unique and special to their owners, they do tend to have an average cost.

Pet Popularity

While 56% of UK households own a pet, not everyone chooses the same type of pet. Right now, the most popular pet in the UK is the dog, with 24% of people having one. Cats are a close second, with 17% of people owning a feline companion. Indoor fish are owned by 8% of the pet-owning population and rabbits by 2%.

As different pets will have different costs throughout their lifetime, it is important to consider which pet will suit your lifestyle, as well as your budget.

How Much Does Your Pet Cost?

How Much Does a Pet Cost?

Dogs can cost nearly twice as much as cats in their first year, as dog owners tend to spend, on average, £4,791 on dogs and their food, while the average cost of a cat in year one is £2,455. The most expensive four-legged pet to own is the horse, with an average of £12,654 in the first year.

If you're looking for cheaper alternatives, rabbits can be a good solution, as their average cost is £1,802. Fish are also a popular choice for those who don't wish to spend much in their first year of pet-ownership, as they cost, on average, £769.

With 38% of people admitting that they dip into their savings to cover ongoing pet costs and 9% saying they use a credit card, it's clear just how much we, as a nation, love our animals.

Cost Breakdown

There are several things to take into consideration when it comes to owning a pet. Vet visits are one of them, which is why you may wish to consider taking out pet insurance. A pet insurance policy may cover some or all expenses incurred if a pet has fallen ill or had an accident. Compare pet insurance policies to see which one may suit you and your pet.

Other costs associated with pet ownership is food. Just like humans, pets need a balanced diet to stay healthy. Dogs, for example, require a mix of proteins, carbohydrates, fats, vitamins, minerals and water in order to thrive. Big dogs require more food than smaller dogs, which may be another factor to consider when choosing your pet.

While size tends not to be a key factor with cats, they do also need a balanced diet and adequate nutrition. If your pet requires a special diet, your food bills may be higher. Other costs may include:

  • Price of pet (purchasing or rehoming fee)
  • Microchipping
  • Neutering
  • Vaccinations and booster vaccinations
  • Grooming
  • Accessories (like toys, leads, and collars)
  • Beds and cages
  • Training classes
  • Pet-sitting
  • Dog walking
  • Health (such as deworming and flea treatments)

Compare pet insurance quotes today using Compare Cover, and enjoy the peace of mind that comes with knowing your pet is safeguarded against a wide range of potential issues. Get in touch. with us or call our team on 0800 915 2926 should you have any questions.

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