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 {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
