Four in five Australian pet owners are concerned about the soaring costs of pet care, with pet healthcare rising at a higher rate than inflation.

A new study, commissioned by HCF, showed that 80 per cent of pet owners are using or planning to use at least one strategy to manage expenses, from buying pet food in bulk (46 per cent) and grooming their pets at home (43 per cent), to cutting back on personal pleasures, like dining out and shopping (29 per cent).

Dr Katrina Warren, Veterinarian and Pet Expert, said factors like ageing pets and rising treatment costs are driving up prices, making it harder for pet parents to manage.

“Pet parents want to ensure their dog or cat receives the best possible care, but rapidly increasing vet costs can leave them with some difficult decisions to make.”

Data from PetSure reveals that over the last 12 months, pet healthcare expenses have continued to increase at a rate that exceeds the high inflation seen across the economy.

For example, to treat common pet health ailments like arthritis and elbow conditions, the year-on-year increase for treatment costs is more than 50 per cent.

Lorraine Thomas, Chief Operating Officer at HCF, said pet insurance can play a role in helping to support owners with unexpected costs.

“When using features like the GapOnly service, pet parents can worry less about the upfront cost of pet bills by paying only the gap at participating vets or get up to 80 per cent back on eligible vet bills.”

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