Post office launch new Pet Insurance Product
It’s a dog’s life for partners - 01/02/2008 POST OFFICE PRESS RELEASE
The Post Office® reveals the UK's pet priorities
A third more pet-owning adults would buy medical insurance for their pet than for their partner according to new research* from the Post Office®, which this week launches a new pet insurance policy for the UK's cats and dogs.
Further findings show that men are barking up the wrong tree if they think they are the most important thing in their women's lives. When asked who they would insure first almost two thirds more women would choose to insure their pet over their other half. That should really put the cat among the pigeons.
Around 50 per cent of the UK's homes have a pet and in recent years cats have overtaken dogs as the nation's favourite furry friend**. But whatever the animal, it seems we are prepared to resort to drastic measures to protect its health. Almost one third (32 per cent) of pet owners would sell valuable personal possessions in order to pay a large vet's bill (over £1000), while an incredible 11 per cent would even remortgage their house, despite the current economic climate.
Advances in medical science mean that the treatments available to our beloved pets are increasingly sophisticated and in many cases increasingly expensive. Even fairly common complaints such as healing a broken leg or the removal of a lump or tumour can cost around £1,000. Despite the high costs of veterinary bills, only one in five*** pet owners insures their pet, leaving millions of pet owners potentially exposed to huge bills.
The research also revealed that three times more people would take out a loan to pay for their pet's medical care, rather than pay for their own children's activities such as football or dancing. For the older generation (55+) this number increased by a whopping 50 per cent, highlighting how beloved pets are in the UK as retirement companions.
The three biggest concerns people have for their pets in order of importance are that they become ill, get run over or are ‘pet-napped'. However, only two per cent were worried about their pet getting too fat, despite RSPCA estimates last year which claimed that half the nation's cats and dogs were obese.
Post Office® head of pet insurance Emma Baunach said: "The figures clearly show how we feel about our pets but there is more we could do to help them.
"Our research showed that 36 per cent of pet owners worry about their pet getting ill and yet only one in five will take out pet insurance - a product, that often can be less than the monthly cost of dog food, and can provide peace of mind with up to £5,000 worth of cover per condition."
Former Blue Peter vet and Vets in Practice star Joe Inglis, who is currently appearing on the BBC's One Show, added: "It is always sad to see an ill or injured animal but it's heartbreaking when the owners can't afford the treatment needed to cure their treasured pet. I would always recommend pet owners get their pets insured - it can literally mean the difference between life and death for a pet.
"When it comes to the UK's love of animals, I'm not at all surprised by the Post Office® figures - although I do feel a bit for some of my fellow men!"
The new product from the Post Office® covers vets bills to a maximum of £5,000 per condition and unlike many policies on the market does not stop paying out after 12 months which is important if your pet contracts a long term illness. And with no upper age limit, cats and dogs of all ages can be covered.
In addition, the Post Office®'s pet insurance includes an added benefits package at no extra cost. This includes cover when taking pets abroad, emergency kennel and cattery costs and 12 months free PetBack Protect membership to the Missing Pets Bureau, which means the Post Office® ensures that everything possible is done to find lost and stolen pets.
Post Office® pet insurance is readily available on the phone on 0800 218 2384, on-line at www.postoffice.co.uk. Information is also available at all 14,000 UK Post Office® branches -the largest retail network in the country.
* All figures, unless otherwise stated are from YouGov plc. Total sample size was 1994 adults. Fieldwork was undertaken between 18-21 January 2008. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+)
** Datamonitor - UK Pet Insurance 2007
*** Post Office® research data sourced December 2007
Source Royal Mail Press Office
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