Last month we laid our 16-year-old chihuahua Puk to rest. Despite a lifetime of good health, an overnight stroke saw the little chap head downhill fast. It didn’t take Dr Doolittle to work out that euthanasia was the kindest option. The clinic staff were sympathetic and professional. No problems there. What surprised me was the cost. A few minutes with the vet, a couple of ml of barbiturate, and the bill was close to $200.
In Puk’s case, it was clear he was all out of options given his advanced years. However, a survey by Finder revealed pet owners would be willing to spend an average of $3500 to save their furry friend. That’s more than two weeks of the average salary.
But this level of financial devotion can fall well short of the mark if your pet suffers a serious illness or injury. PetSure’s Pet Health Monitor, which draws on insurance claims data between 2013 and 2018, found the single highest benefit paid over the period was $19,600 for a labrador requiring stomach surgery after it had wolfed down a corn cob.
More recently, Pet Insurance Australia reported a 300% increase in payments for rat bait poisoning, with insurance claims of up to $11,000 for pets that ingested bait – an unhappy side effect of the mouse plague impacting regional NSW and Queensland.
High vet bills underpin pet cover
The upshot is that pets, like people, can be prone to unexpected illness and injury. As with human medicine, veterinary treatment has benefitted from advances in new technologies and drugs. Unlike human health care, vet bills are not subsidised by Medicare or the savings of the Pharmaceutical Benefits Scheme. So, treatment can be expensive and the cost comes straight out of the owner’s pocket.
This story is from the September 2021 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2021 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Is the public market shrinking?
Australia needs a healthy stock market to give companies access to funds and to allow retail investors to build wealth.
India: three steps to transformation
Massive investment and extensive reforms turbocharge the economy.
The ballet of business
Changing direction, products, models and marketing is a hard task for a business. We chart what it takes to turn a business around, plus profile four successful pivots.
Save money and the planet
Could the high cost of living give us the incentive we need to reduce how much water and energy we use or waste? These eco-friendly household tips will help you do just that.
AI adoption is the new black
Artificial intelligence is set to reshape the commercial world, and small enterprises can’t afford to miss the boat.
Spam attack! Murky laws jam our inboxes
Unwanted marketing material is one of the pain points of modern life.
From rags to riches in style
Rich Tran sported a bowl cut until he was 14 years old and had no intention of becoming a hairdresser.
New work deals are killing the 'old' office
The Covid pandemic and the subsequent lockdowns accelerated the trend to more people working from home. It was a mixed experience.
Points taken: the truth about rewards
Can hopping between credit cards really boost your frequent flyer haul and give you cheap or free travel - or is it doing more harm than good behind the scenes? Money puts it to the test.
Shortcuts to own a home
Innovative ideas with a focus on low costs and sustainability could help solve the housing crunch.