Pet insurance customers fare the best of all insurance policy holders
Aquarium Software says pet insurance is fast becoming a worthwhile investment, following new figures from the Association of British Insurers (ABI) which shows the average pet insurance claim is now exceeding the average premium. Pet owners have historically been losing out as the average premium topped the average claim – but with the situation now flipped, Aquarium is urging owners to take advantage of the change in the market and do the right thing by insuring their furry friends.
With pet insurance premiums becoming better and better, Mark Colonnese, Aquarium’s Sales and Marketing Director, says even the most frugal pet owner should now be ensuring their four legged friend is covered by the correct form of insurance.
“Pet insurance has always been a worthwhile investment, but for too long it has lagged behind other more traditional forms of insurance when it comes to value for money,” said Mark. “It is now a fairer price for the consumer and presents a better investment with the price of claims racing ahead of the price of premiums. For pet owners, it’s finally a much more level playing field both when it comes to claiming, and when it comes to initially purchasing cover. There’s no reason for owners not to invest and cover their pets.”
ABI’s research revealed 2010 was the first time that the average claim for dog insurance exceeded the average premium, a trend that has continued the following three years. Mark says with the trend set to continue, pet owners insuring their pets not only help their own loveable companion, but other pets as well. The more animals insured, the better the information databases provide insurers and vets with – information which could prove handy if the worst should ever happen to Fido. With Aquarium managing such information when it comes to the policy administration and claims processes, Mark says he’s seen first hand the importance of insurance.
“Other forms of insurance aren’t ignored anywhere near as much as pet insurance is,” said Mark. “Price may be a reason for that, but with the ABI’s recent findings, our message is clear - it’s time more pet parents started insuring their four legged friends,” concluded Mark.