While the majority of pet owners consider their pet a part of the family, less than half actually insure their animals, a study by Gocompare.com has revealed.
New research shows that 86 per cent of pet owners consider their pet a part of the family, but 56 per cent of people are yet to take out pet insurance.
One in four went on to say they would put their pet down if it were to become seriously ill rather than pay for an expensive treatment, so it is obvious that the family ties aren’t too strong.
Phil Paterson-Fox, head of pet insurance at Gocompare.com says, “The research shows that we are a nation of pet lovers and with such a high number of pet owners considering their pet to be a member of the family, it’s surprising that so many aren’t protecting themselves from the potential cost of a claim.”
The two main reasons why people don’t have an insurance policy for their pets are either because their pets are too old or young, or because they don’t think they can afford it.
But Paterson-Fox dismissed these claims saying, “there really isn’t an age restriction on insurance. It’s sad to think that a quarter of pet owners would consider putting their pet down rather than investing in an insurance policy that could save them having to make this difficult decision,”
Some of the research highlights include:
-7% of pet owners aren’t sure if they have pet insurance or not
-20% of pet owners have never considered getting pet insurance
-25% of pet owners cite price as their reason for not purchasing pet insurance
-73% of pet owners who don’t have of pet insurance do not put money aside each month ‘just in case’
