You are here: Home - Uncategorized -

Pet insurance falls in quality

0
Written by:
13/06/2006

Just 6% of pet insurance policies match what Sainsbury’s Bank believes is adequate cover, according to its Pet Insurance Charter.

The bank said this highlighted a deterioration in quality from the previous year, and it warned cat and dog owners to be cautious when they chose a policy.

Twelve months on from the launch of the bank’s Pet Insurance Charter, which outlined what it believes should be the minimum levels of cover for cats and dogs, the bank’s analysis reveals that just 6% of pet insurance policies currently meet this. The corresponding figure in 2005 was 12%.

It claimed that more than a third of policies didn’t cover veterinary fees in excess of £3,500 and around half did not include treatment for long-term conditions, the two key elements of cover pet owners are most likely to require from their pet insurance policy. This failure of pet insurance policies to evolve in line with advances in veterinary science means that pet owners could find themselves being left severely out of pocket and not being able to afford the necessary treatment for their cat or dog.

David Pickett, pet insurance manager, Sainsbury’s Bank said: “Pet owners need to make sure that the pet insurance they choose will provide the cover they need in the event of their dog or cat needing treatment. We find it incredible that despite the fact that vet bills are on the rise due to improvements in treatment, even fewer policies this year are providing cover for fees in excess of £3,500. Many pet owners may therefore have to make up a financial shortfall on the cover provided by their policies.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

Spreadbetting hub

Click here to find out everything you need to know about spreadbetting

Is your mortgage fully protected with critical illness?

For a free quote or to speak with an insurance expert call 0800 1218744

Guide for First-Time Buyers

Download our free, handy guide for first-time buyers, produced in association with the Post Office.

BNY Mellon launches investment guide for women

BNY Mellon has produced a free ‘Guide to Investing for Women' to provide an introduction to investing and lo...

Your ultimate guide to the new ISA rules

As the new ISA – or "NISA" – rules come into force, we explain what has changed and how you can benefit.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Shopping for the best rate can help your savings build over time.

Top tips for protecting yourself online

One in six adults has fallen victim to a cyber-attack, according to new research from Experian.

BLOG: Top tips for would-be entrepreneurs

As Global Entrepreneurship Week draws to a close James Benamor teaches Your Money how to get a business off th...

Stock tips from top fund manager: IP Group

James Henderson, manager of the Lowland Investment Company and Henderson Opportunities Trust, selects IP Group...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Questions on health insurance?

Visit www.health-on-line.co.uk or call 01202 544255

Money Tips of the Week

Close