As the New Year approaches, the Association of British Insurers (ABI) is reminding pet owners that taking out pet insurance should be top of their New Year’s resolution list. While four out of 10 owners are likely to have splashed out on Christmas presents for their pets*, only 25 percent of dog owners and 15 percent of cat owners purchase pet insurance.
Every day insurers pay out the equivalent of over £1.6 million to pet owners for vital treatment and emergency surgery. Pets are often considered part of the family, but owners tend to forget about the potential cost of treatment should their pet become injured or ill:
- A dog will cost its owner on average between £16,000 - £31,000 over its lifetime, a cat £17,000, and even a rabbit £9,000**
- The average cost of treating a cat after a road accident is around £875
- Care for a dog which has a tumour or growth averages £509**
- Helping out a cockatiel which has trouble flying properly cost nearly £500
To help pet owners understand the range of pet insurance available and what different policies can cover, the ABI has published a new Consumer Guide to help ensure individuals take out the most appropriate cover.
Ross Penstone-Smith, Policy Adviser for General Insurance, ABI said:
"Despite people often thinking of their pets like a member of the family, many forget the expensive cost of emergency veterinary bills. Pet insurance gives owners peace of mind that if something happens to their pet they’ll be able to receive the care they need, and be able to enjoy having healthy pets who live longer.
"At a time of year when many people have just spent money on personalised dog bowls and Christmas stockings for cats, pet owners should also consider the benefits of taking out a pet insurance policy."
Statistics can be found here:
**People’s Dispensary for Sick Animals
****ABI's latest annual pet stats can be found here