42% of Brits with pet insurance end up funding treatments themselves

Millions of UK pet owners could be at risk of unexpected vet bills by relying on minimal or no pet insurance, new data reveals.

Research compiled by Quotezone found that when asked what type of insurance they have taken out, the most common response from pet owners was ‘none’, with 14% of respondents stating that they have not taken out any insurance cover for their pet.

Without pet insurance or with basic policies, pet owners can be left vulnerable should the animal suffer an illness or accident.  The Quotezone survey also found 42% of Britons had to self-fund the cost of treatment after their insurance policy wouldn’t cover it – choosing the lower levels of protection could leave families susceptible to overwhelming financial costs. 

Lifetime policies are often the most sensible choice, they provide comprehensive coverage, protecting pets against illnesses and injuries throughout their lives, however, only 11% of owners admit to having this level of protection. 

While at the other end of the scale, accident-only pet insurance is often the cheapest option but usually has a limit for each claim and only covers injuries or accidents.  This type of policy does not cover long-term or chronic illnesses and often has low payout caps, meaning vet bills could quickly exceed any limits and leave pet owners out-of-pocket.

The UK is a nation of pet lovers, with an estimated 51% of the adult population owning a pet of some kind – estimating 10.6 million own dogs and 10.8 million own cats.*  And although a record number of pet owners took out insurance to protect their pets last year, with numbers reaching an all-time high of 4.4 million – this figure is only 20% of the estimated total pets owned in the UK.**  

Tiffany Mealiff, pet insurance expert at Quotezone.co.uk said: “We know Brits love their pets but the statistics show that a worrying number of them are left unprotected.  Choosing the right protection, and not necessarily the cheapest, could be the difference between being covered for expensive treatments or having to make a heartbreaking decision.

“If affordable, a lifetime policy with a decent annual limit often offers far better long-term value despite the higher monthly costs, but it’s always important to compare policies, ensure it is competitively priced and has all the needed extras – our comparison site helps pet owners find savings and review their options.

“Accident-only and bare minimum policies might save you some money in the short term, but could leave you to foot expensive bills when it really counts.”

Quotezone can help animal lovers compare and find savings on all sorts of pet insurance.

References:

*https://www.pdsa.org.uk/what-we-do/pdsa-animal-wellbeing-report/uk-pet-populations-of-dogs-cats-and-rabbits
**https://www.abi.org.uk/news/news-articles/2024/8/record-numbers-take-out-pet-insurance-for-their-four-legged-fur-ends/