HK pet owners underestimate vet costs by 119pc: survey

A quarter of Hong Kong pet owners underestimate veterinary expenses for serious illnesses by 119 percent, a recent survey reveals.

The online survey by virtual insurer OneDegree, conducted from November 25 to December 9 last year, gathered responses from 537 cat and dog owners.

It found that 26 percent never worry about critical illnesses in their pets, while 48 percent estimate the risk of conditions like heart failure, stroke, epilepsy, quadriplegia, or patellar luxation at under 20 percent.

Underestimation of veterinary costs

Alarmingly, nearly half of respondents have no savings for vet bills, and almost 60 percent lack pet insurance.

Among savers, average annual reserves reach about HK$14,000—insufficient for a year's treatment of severe diseases.

The data reveals a significant disparity in cost perception, where owners' expectations are 119 percent out of alignment with the actual treatment cost of a critically ill pet.

For instance, they predict HK$34,000 annually for pet stroke treatment, but actual costs for a five-year-old British Shorthair cat can hit HK$75,000 in six months—over double the estimate.

The gap surges to 879 percent for alternative treatments like acupuncture or traditional Chinese medicine.

A call for proactive planning

“Many owners mistake a pet's ability to run and jump for complete health, overlooking the sudden onset of serious diseases,” said Emily Chow, Deputy Chief Executive of OneDegree.

She warned of 10 percent medical cost rises in early 2025 and recommended pets aged eight or older have at least HK$100,000 in reserves.

Chow added that 80 percent of pets needed treatment last year, half uninsured.

Unexpected treatment costs lead to abandonment

Veterinarian Kwan shared that clinics occasionally see abandonment cases when pet owners are confronted with unexpectedly high treatment bills.

Ivy, founder of charity House of Joy and Mercy, confirmed such cases are common, urging prospective owners to consider lifelong financial commitments, including medical costs, before adopting.