Pet insurance 'is complex to calculate'
Published On 30 September 2007
Insurers take into account a range of factors when calculating pet insurance premiums, an industry expert has said.Clare Wheatley, risk and underwriting manager for Allianz's Petplan programme, explained that calculating insurance for animals was carried out in a similar way to health insurance for humans.
"We take a pet's age, breed and location into account when insuring them," she added.
Ms Wheatley said that breed played a role in calculating insurance premiums because "we know that cross-breeds are hardier than pedigree cats and dogs".
"We also look at where a pet is located when insuring them. The cost of setting up and running a vet practice can vary greatly across the UK which is something we need to take into account," she pointed out.
However, Ms Wheatley explained that insurance for more exotic pets was more complex.
"Where the animal is housed can also have an effect. For example, if a parrot is kept in a kitchen, the risk is greater because of their intolerance of Teflon used in cookware," she concluded.
Recently, Sainsbury's warned pet owners that they were risking their beloved animal's health by feeding them treats which lead to obesity.
