Escalating premiums force owners to discard pet insurance
Written by Emily Napier Friday, 10 September 2010
The cost of pet insurance has shot up by 28 per cent in just two years, forcing many owners to abandon protection for their cats and dogs .
Some pet owners find they have to pay an additional 100 per year when their policies come up for renewal, even if their pets are young and healthy. Kate Carr, of the Association of British Insurers (ABI), said: “Most pet lovers want to ensure their animals get the best veterinary care possible. But advances in veterinary care come at a cost and this is reflected in the rising cost of premiums.”
According to the ABI, average premiums have increased from 162 in 2007 to 208 in 2009, which has led to a 14 per cent fall in the number of people taking out policies. Most pet insurance policies do not cover routine and preventative measures. Also, pre-existing medical conditions and anything relating to pregnancy are normally excluded.
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