Is your cat insured? If so, you are one of a minority of Brits who insure their kitty with new research revealing that we are much more likely to take out pet insurance for our dogs than our cats.
Figures from the Association of British Insurers have revealed that around 2.4 million of the estimated 9 million dogs in the UK are covered under pet insurance – around one in four – while just one in six cats are protected.
The research comes as data reveals that the average pet insurance claim is now almost £700. Keep reading to find out more.
Over £600 million paid in pet insurance claims in 2014
ABI figures have revealed that 2.4 million of 9 million dogs in the UK are protected under a pet insurance policy compared to just 1.2 million of an estimated 7.9 million cats.
The trade association also found that more than a quarter of a million other pets are covered under pet insurance policies. According to the ABI, insurers provide cover for animals including horses and rabbits, and exotic animals, such as snakes.
The ABI added that UK firms paid out a total of £602 million worth of claims in 2014 – the most since records began in 2007. This figure was almost 15 per cent higher than the previous year and equates to claims payouts of £1.65 million every day.
Over 13 million cats and dogs not protected by a pet insurance policy
More than 3.5 million Brits protect their dogs, cats and other pets with dedicated cover although millions of animals remain uninsured. Figures show that there are around 6.5 million dogs not covered under a pet insurance plan and around 6.7 million cats.
Pet insurance can offer valuable protection to your beloved animal considering the cost of vet’s bills can run into hundreds or even thousands of pounds. The ABI says that the average pet insurance claim in 2014 was £679.
Treatment for injuries and illnesses to cats and dogs can be expensive. The ABI cited the case of a kitten, which had fallen down a toilet. Treatment – which cost around £600 – included having its stomach pumped and taking antibiotics.
Other examples include helping a cockatiel to fly – at a cost of around £500 – and treating a tortoise with a digestive disorder – at a cost of more than £560.
Mark Shepherd, general insurance manager at the ABI, said: “It’s good to see an increase in the number of animals and their owners who are now benefiting from the protection offered by pet insurance. However, it remains a concern that the majority of pet owners in the UK don’t have any cover in place.
“The cost of getting quality veterinary treatment for your pet can quickly reach into thousands of pounds, particularly if they have to have surgery or need chemotherapy to tackle cancer. Pet insurance gives you peace of mind that you won’t have to deny your pet life-saving treatment because the veterinary bills are too expensive.”