Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 21st of August 2018
September 29, 2010

Pet insurance adopted by only a third

by Richard Kilner

Story link: Pet insurance adopted by only a third

The latest consumer attitudes towards pet insurance have been uncovered by the new YouGov SixthSense report.

The recession has seen a relative rise in policy cancellations, and cost has been seen as an obstacle to wider coverage of pets.

One in three Britons own pets (20.3 million people), but only around a third of these have pet insurance.

Of those who cancelled policies due to cost, 18% said they needed the coverage but could not afford it, and 27% stated that their policy was not value for money.

YouGov SixthSense Research Director James McCoy has stated that pet insurance does not provide extra benefits available from other forms of insurance.

McCoy suggested that pet insurance could include maintenance or cosmetic treatments, such as an annual booster or regular flea or worming treatments.

 

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