Brits Should Not Save on Pet Insurance – NFU Mutual

According to NFU Mutual, UK provider of insurance, pensions and investments, Brits who cancel pet cover in an effort to save money are becoming the victims of false economy. The insurer found that the cost of claims has risen by 115% in the past year, which means that cancelled pet cover might cost pet owners a fortune.

The research carried out by NFU Mutual showed that an average cost of insurance claim for a dog is £660, which is approximately 3 times more than the cost of annual pet cover.

Commenting on the findings, Mr. Kenny of NFU Mutual said that buying cheap policy or cancelling cover have proved to be beneficial in the short-run and ruining in the long-run. Instead, he suggested looking for the right pet cover.

Let us remind that we already have reported that many Brits are trying to save on health cover of themselves or their pets. This fact has also been proven by NFU Mutual, as its research showed that 15% of respondents have cancelled some type of insurance as a result of economic downturn.