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Animal lovers have greater choice of pet insurance

Monday, 19th September 2011

Animal owners looking for pet insurance now have more choice than ever before, new figures show.

According to data analysed by Defaqto Matrix, the number of cat insurance policies on the commercial market has increased by 27 per cent over the last three years from 204 in 2008 to 278 this year.

Meanwhile, the proportion of dog insurance policies has risen even higher - by 29 per cent - from 214 to 300 over the same period.

Defaqto's Mike Powell pointed out that the increased choice of policies available to pet owners and the various types of cover available could make it confusing to choose the right product.

"New entrants should seek to support product launches with consumer education and, given the potential for consumer detriment from providers exiting the market, ensure that they are in the sector for the long haul," he added.

According to Defaqo's research, 48 per cent of dogs and 69 per cent of cats in the UK are currently uninsured.