As an increasing number of pet owners consider cutting back on pet insurance during the recession, Sainsbury’s Finance has warned that veterinary fees have “risen sharply” over the last few years. Pet owners who fail to insure their animal could face some hefty bills in the coming year, the insurer said.

Joanne Mallon, manager of Sainsbury’s Pet Insurance highlighted the sharp rise in vet fees in recent years. However, research from the firm shows that almost 500,000 people have cancelled their pet insurance policies to save money during the financial downturn. Ms Mallon said that these customers were “leaving themselves exposed to some very large bills”.

Rival insurer More Than also highlighted the expense of sending pets to the vet in a report released last month. According to the firm’s research, the average cost of keeping a medium-size dog healthy throughout its life is £10,039. This figure does not include unplanned trips to the vet.

PetPlan has also noted that a large number of its customers are purchasing more basic cover for their pets, or sometimes doing away with pet insurance altogether. The insurer warned that conditions such as glaucoma are on the up, and can cost more £1,000 to treat, meaning those without insurance could face hefty bills if their pet falls ill.

This entry was posted on Tuesday, May 26th, 2009 at 3:11 pm and is filed under Insurance, 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.