World’s biggest pet insurer’s survey says 25% choose pets
Allianz’s pet insurance arm Petplan says almost two-thirds of people would put off starting a family during the current economic downturn but a quarter would choose a pet instead.
It’s survey of 3,000 pet owners found the decision to put family life on hold in favour of nurturing a four-legged friend was equally divided between men and women.
The insurer said the findings were supported by a recent Mintel report showing that the pet care industry is thriving with animal lovers spending £484m on their cats and dogs this year. Pets at Home also announced its profits have doubled compared to this time last year.
A spokeswoman from Petplan, said: "It seems that pets of all shapes and sizes are now being considered a perfectly sensible alternative to starting a family for cash-strapped couples. We know that many owners develop very strong emotional ties to their pets that are often treated as part of the family. But we do urge all would-be pet owners to understand that pet ownership does come with responsibilities, just like parenthood."
The company said that research shows the cost of raising a child from birth to 21 is £186,032 whereas RSPCA figures state that a dog costs approximately £9,600 during its lifetime, a cat £8,000 and a rabbit £3,800.
Petplan’s top 10 most popular child substitutes:
1. Dog
2. Cat
3. Rabbit
4. Guinea Pig
5. Rat
6. Hamster
7. Mouse
8. Gerbil
9. Reptile
10. Bird
