Half of pet owners do not have insurance but admit they can’t cover vet bills
Research from comparethemarket found that cat owners were less likely to take out insurance than dog owners. Around 62% of cats had no insurance cover versus 47% of dogs.
For those who have taken out a pet insurance policy, the average premium per month is £19 or around £230 a year – although this varies by region. Londoners pay the highest average monthly premiums at £25, but were found to be the least likely to insure their furry friends.
Meanwhile, Yorkshire pet owners were most likely to take out a policy, while the Welsh paid the least per month at £14.21.
Close to two thirds of policy holders said they took out insurance in order to reduce the cost of vet fees, while 35% said they had a policy because they were worried their pet would fall ill. Finally, a quarter feared their pet would be hurt in an accident.
Of the pet owners surveyed by comparethemarket, 32% said their cat or dog had been taken ill or injured and had to see a vet. Cuts and scratches were the most common reason for vet trips, followed by injuries sustained as a result of a fight with other animals, skin or paw problems, and ear or eye conditions.
The research also showed that the most popular dog in the UK is the Labrador Retriever, with an average insurance premium of £44.30 a month. Meanwhile, the most popular cat breed was a Moggie with an average monthly premium of £34.13.