Owning dogs are generally expensive, that is if you plan to be a responsible dog owner. Responsible dog ownership includes having the financial capacity to feed your dog, buy those toys and necessary equipment (beds, collars, leashes, bowls etc.), and take them to a veterinarian for health checks.
All these costs to consider throughout its lifespan of 12 years is not cheap. In an estimate, owning a Labrador Retriever will cost roughly around £27,100 - £30,800 in its lifetime. However, this does not include pet insurance costs, which depends on the type of coverage. Basic insurance coverage £23 while a lifetime policy will cost you £50.
For a Labrador, you might want to get a lifetime policy with higher coverage. Labradors are known to be an expensive breed due to its long-term hereditary health conditions.