Horse Owner Survey
In spring 2007, we surveyed over a thousand horse owners about their pets and this is what we found:
- The majority of horse owners (70%) also own both a dog and a cat.
- Over 70% have thought about providing care for their horse(s)/animal(s) after their death.
- A little more than half of survey respondents (52%) indicated that they have considered the cost of caring for their horse(s)/animal(s) for their estimated lifetime, which they indicated was an average of 21 years or greater.
- Again, over half (53%) of horse owners indicated that the average life expectancy of their animal(s) was greater than 21 years
- Of all respondents, over 80% spend more than $2,000 a year for all of their horse(s)/animal(s) to provide basic care, e.g. food, supplements, grooming, medical and veterinarian feeds, stabling/boarding, and transportation. Of that number, greater than 42% spend $5,000 or more a year on basic care.
- Over 80% of horse owners do not currently have their horse(s)/animal(s) insured.
We also researched the cost of a typical Pet Trust and discovered that pricing ranged from just under $50 for a bare bones trust document to several thousand dollars for a Pet Trust and related documentation. Based on our research, we decided to create the country’s first no cost, interest-bearing savings account tied directly to a free Pet Trust. The idea is simple: Animal owners should save the money they would otherwise spend on creating a Pet Trust, and instead start saving for the long-term care of their animals.
