Brits thinking about buying a pet have been advised to get pet insurance cover too.
That is because owners will be able to claim back any money they may have paid to a vet when their animal is sick or needs an operation.
Sam Guiry, editor of the Pet Gazette, which is a publication dedicated to the industry, said: "With vet's bills capable of running to thousands of pounds, it is vital for responsible pet owners to take out insurance.
"Almost all animals can now be covered, and not only does it give owners peace of mind, it also ensures that when a pet does fall ill, or has an accident, the owner can give their pet the best possible care rather than worrying about the costs."
He added that buying a pet is a life-long commitment as the owner has to pay for food, veterinary costs and bedding for the life of the animal.
Brits considering obtaining pet insurance may want to use price comparison site MoneyExpert.com to find the best quote for them.
That is because consumers can enter the details of their pets once and see a list of all the policies currently on the market and how much each would cost.
Pet insurance will pay up to £1,000, £4,000 or £7,500 for each condition the animal may be inflicted with. There is no limit to the number of conditions in a year.
It can also cover a pet suffering with an ongoing condition and for older pets as long as the policy is renewed each year in some cases.
Mr Guiry advised pet owners to ensure that the insurance policy they obtain offers the level of cover that they want as cheaper policies may only cover certain conditions for 12 months.
In the UK, it is thought that there are 7.3 million dogs and 7.2 million cats, according to the Pet Foods Manufacturer Association.