Almost one in four dog and cat owners in the UK are making some form of pet-related spending cutback - with insurance near the top of the list for many.
Pet insurance is being sacrificed by spenders as a result of the ongoing credit crunch, new research from Sainsbury's Bank has revealed.
The pet insurance provider has revealed that animal owners across the UK are making cutbacks in a number of areas, with medical cover for cats and dogs among the first products to go.
Some 1.91 million cat or dog owners have delayed buying pet insurance or cancelled policies in an attempt to cut household spending. A further 836,000 pet owners have stopped taking animals to the vets for regular check-ups in order to save money, while a further 247,000 have refused treatment on the grounds of price.
Joanne Mallon, manager of Sainsbury's Pet Insurance, said: "We understand that almost everyone is being affected by the current economic climate, however one way to make sure your beloved dog or cat doesn't suffer is to make sure that you have adequate insurance cover should they have an accident or fall ill.
"It's inevitable that many pet owners will look to cut back on expenditure, but it's worth noting that veterinary medicine has advanced greatly over the past five years and treatments have become a lot more costly."
