Click to Chat

Live chat with our customer service team.

InsureWithMax Blog

The scent of pet insurance

I’m not keen on dogs, but I love cats, having grown up with them. However, the UK’s most popular pet is a dog, with 26% people owning one. Pet owners claim that having a pet makes them feel happy and improves their quality of life. If you are a pet owner, do you buy pet insurance?

pet dog

Thin pickings

The UK pet insurance market is expected to grow the premium income to £1.6bn by 2021. Nearly 4.3m pets were covered by insurance last year, a record number. About 80 brands sell pet insurance, which is about 15% more than 5-years ago.Market researchers reckon that about 60% dog owners and 40% cat owners buy some form of pet cover from insurers.

Rich Pickings

On the other side of the fence, the pet insurers paid out £785m in claims last year. The size of the average claim rose by £36 to £793. Most pet insurance claims were for veterinary treatment.

Why avoid pet insurance?

Insurance won’t make you money, so here are reasons not to buy pet insurance.

  • Older pets with a pre-existing condition can be costly to insure.
  • You still must pay for procedures up front, as the vet needs to be paid.
  • An insurance wording will not cover every claim. Pet owners are left out of pocket.
  • Insurers set the amount you can claim and what you can claim for, either annually or over your pet’s lifetime.

Why buy pet insurance?

After a large claim, the insurance policy will look good value, as it covers illness, accidents and even a pet being stolen.

  • A claim is a chance event, so there’s no way to predict what pet illnesses or injuries might occur. The cheapest insurance covers accidents (pet hit by a car), but not illnesses.
  • Being insured, allows the freedom to make medical decisions based on quality of the pet’s life rather than the cost of the veterinary skills.
  • Understand the best policy for your pet, based on your pet’s potential breed-specific health problems.
  • Choose catastrophic coverage (big shock claims) by having the highest deductible, as this will make the premium cheaper.

There’s no NHS for animals, so who’s going to pay for the medical treatment and care of the beloved extra family member? The good news is that in the last decade, the average claim cost has increased by 75%, whilst the average premium has gone up by 50%. The advances in veterinary science mean that human medicine is transferring to animals. Either use a savings plan to pay for the vet bills or buy an insurance policy. The decision rests with you; if pets could talk, it would be an interesting conversation.

ChildMax insurance pays your take home salary while you’re on 12 months’ unpaid leave caring for a sick child. It starts from £49.50. Can pay monthly payments for easy budgeting with an initial payment of £8.25 followed by 11 monthly payments of £3.75.

Visit at or call the UK call centre 0333 323 0098 for more information.


Date: 27 May 2019 by Max Robinson