When you love something, you like to take care of it, and with 44% of UK households owning a pet; it’s safe to say, we’re rather fond of our furry (or scaly) friends. So, a big slobbery welcome has been given to the news that pet claim pay-outs reached a record high of £706 million in 2016.

With more than 2,500 pet insurance claims made daily, that works out at about £1.8 million paid out every 24 hours. The average claim has also increased from £720 in 2015 to £750 in 2016. But whilst this is all good news indeed for pets with cover; spare a thought for those that don’t.

There are about 16.5 million cats and dogs in the UK but only 30% of dog owners and a measly 16% of cat owners, have pet insurance. So, whilst a cautious few have cover, the vast majority don’t have any safety net in place should their beloved companions need medical help.

The likely lifetime cost of owning a dog can be anything from £21,000 to £33,000; cats will cost an average of £17-24,000 and even rabbits can set you back, between £10-15,000 in their lifetime. If that sounds like more than you bargained for, then it’s also worth knowing that these estimates don’t include vet bills (which are rising by around 12% every year).

The cost of treating a cat involved in a car accident, could set you back £875 and an overexcited dog that’s torn a leg ligament, could mean forking out around £1,200 to get them back on their feet again. But that’s just for run of the mill accidents, what about the more…exotic ailments that pets can get? Like the python with an eating disorder that cost £796 to treat, or £313 for an iguana with stomatitis (which is vet speak for mouth rot – how enchanting).

On the flipside, accident only pet insurance could start from as little as £2.76** a month for cats and £3.01*** for dogs. So, for the price of a sandwich or posh coffee, you could ensure your pet pooch or favourite feline, gets the treatment they need, when they need it. And if you need help sniffing out the right policy for you then canter on over to our pets’ hub – you’d be barking not to.

**50% of people could achieve a premium of £2.76 a month for accident only cover based on comparethemarket.com data in November 2016.
***50% of people could achieve a premium of £3.01 a month for accident only over based on comparethemarket.com data in November 2016.

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