Majority Of Pets Are Not Insured
Published: 8 December 2011 By Peter Thompson Leave a Comment
Despite the fact that pet owners consider their pet ‘one of the family’, the majority don’t take what might seem to be the logical step and buy pet insurance to protect their beloved animal.
Research by Gocompare.com shows that 86% of pet owners consider their pet to be part of the family yet 56% have not taken out pet insurance cover.
Some 25% of pet owners who don’t have insurance would have their pet put down if he or she were to become seriously ill.
That said, nearly 60% of owners would pay whatever it took to nurse their pet back to good health, with as need be delving into their savings, using a credit card or asking family and friends to help them pay for treatments and remedies.
Of those that don’t have pet insurance, a quarter said they couldn’t afford it. But with 42% of pet owners paying less than £10 per month for their policy, insurance could be more affordable than they might have thought.
Some 23% of owners feel that insurance isn’t worth it but when treatments such as cruciate ligament surgery, a very common claim, cost as much as £3,000*, pet insurance really is worth considering.
Phil Paterson-Fox, head of pet insurance at Gocompare.com says: “It’s sad to think that a quarter of pet owners would consider putting their pet down rather than investing in an insurance policy that could save them having to make this difficult decision, and with a pet insurance policy costing as little as £2.12** a month, it doesn’t have to cost the earth to get peace of mind for you and your pet.”
MoneyHighStreet comments: “Clearly it is important to be aware of the cost of owning any pet before you take on the responsibility for one.
“Protecting yourself with the best pet insurance to meet your pets needs is certainly something to consider – and clearly it can be done at a price that may well suit more budgets than many people perhaps think.
That said, whilst cover doesn’t have to be expensive but as with any insurance it’s important to make sure that you buy the cover you need and don’t necessarily just opt for the cheapest.”
*No two claims for any one specific condition will be the same as there are so many factors involved ie; Breed, size, vets or referrals, area of the country etc, so this figure is illustrative.
**The cheapest policy for pet insurance starts at £2.12 per month.
