Pet priorities changing, insurer reveals

Pet insurance sales are being altered as a result of shifts in owners' social patterns, according to research.

More single person households and longer working hours are meaning that fewer Britons are able to look after a dog - creating growth opportunities in the cat insurance sector, figures from Defaqto have revealed.

The study also indicated that 17 per cent of cats and 32 per cent of UK dogs are currently insured, meaning that the total market could exceed £1 billion if all owners opted to insure their animals.

Brian Brown, head of Defaqto's insight team, said: "Despite the massive supply of insurance policies from all types of outlets, many owners, particularly of cats and non-pedigree dogs, have never experienced a large veterinary claim and therefore do not necessarily perceive a need for cover."

Mr Brown added that a number of owners have opted against insuring their furry friend - choosing to pay the bills if they occur.

According to UKPets, Datamonitor research has revealed that the pet insurance market could soon be brought into question, as insurers would need large premium increases in order to balance their books.



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