Petcover Umbrella for Life Cover

Did you know there are almost 29 million pets in Australia? That means we have more pets than people with a human population of 25 million. According to recent studies, Australians are more likely to have a pet than most other countries with just 57% of Americans and 40% of British households owning pets compared to almost two thirds here.

A recent study commissioned by the Animal Medicines Australia (AMA) found it’s not just the number of pets we own that’s changing, it’s how we treat them too.

In their study to better understand the role pets play in modern Australian society, the AMA found 90% of pet owners reported their pets having a positive impact on their lives. This positive impact was reported across their owners physical and mental health which is a position that’s long been supported by academics.

Over 60% of cat and dog owners reported they viewed their pet as a member of their family, they’d refer to their pet as their ‘fur baby’ and the AMA hypothesised this protective view was supported by the rise in pets being given more human names.

However, owning a pet is not always plain sailing. The most common difficulty pet owners face is the ongoing cost for their care. When it comes to caring for our beloved pet, there are costs that are essential (like their food) and there are costs we voluntarily spend (like that extra squeaky toy) and we can budget for these.

Unfortunately, there are always some costs that can’t be budgeted for no matter how carefully you plan. Vet services account for around 20% of the total cost of caring for a pet over the year and with Australians spending over $13 billion per year to keep our pets fed, happy and healthy, that’s a lot of cash.

Whilst vet bills can feel expensive, The Australian Veterinary Association notes that “veterinary fees can feel expensive when compared with the cost of human healthcare, which is typically subsidised by governments and private health insurance; further, veterinarians fulfil specialist roles beyond that of a ‘pet GP’ – acting as a pet’s surgeon, radiologist, dermatologist, neurologist, psychiatrist, oncologist and pharmacist”.

With 84% of dog owners and 68% of cat owners reporting a trip to the vets in the past 12 months, it’s an expense most pet owners are willing to make.

The more expensive problems arise when an ongoing medical condition occurs. Over 30% of dogs visited vets in 2019 for illness, injury or surgery and these are things even the most careful owner can’t always avoid.

Petcover’s Umbrella for Life policies provide cover for ongoing conditions for the rest of your pet’s life, provided the cover is renewed each year without a break. This means you’ll never have to worry about financing any ongoing vet costs at the end of your policy and you can be sure you’re never put in the dreadful position of having to put a cost on your pet’s life – so long as your policy is renewed each year, we’ll take care of everything else.