Our pets are among the first things to be neglected as the recession puts pressure on consumers’ finances, according to a new study.

Research for insurance provider More Than found that 69% of pet owners would not give up luxuries such as meals out or short breaks in order to stump up for unexpected visits to the vet. According to the study, only 31% of pet owners have taken out pet insurance, while the majority trust that their animal will continue in good health.

10% of pet owners said they would prefer to self-diagnose and administer human medicine to their cat or dog, rather than paying a qualified vet to offer a diagnosis.

Peter Markey, head of marketing at More Than said that the recession was prompting many customers to cancel their pet insurance and skimp on visits to the vet.

“Thanks to the credit crunch many of these pets are at risk of being put down if they need a surprise vet visit,” he said.

“The report highlights just what a big responsibility owning a pet is and how important it is to make provisions in case the worst should happen.”

This entry was posted on Thursday, April 16th, 2009 at 2:30 pm and is filed under Budgeting, Pet Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.