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Pets put first in insurance stakes
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13 June 2006 Pets put first in insurance stakes
People are more likely to take out pet insurance than purchase accident or income protection for themselves, new research has revealed.
The survey, conducted by specialist accident and health insurer Combined Insurance, showed that while less than one in ten self-employed workers has income replacement protection, nearly a quarter have chosen to take out pet insurance for their cats and dogs.
Although the numbers of self employed workers has risen by around a million in the last year, many of whom will have pets who they choose to insure, a third of those choosing to work for themselves have nothing saved to guard against loss of income.
Nigel Brittle at Combined Insurance commented: "In a country where approximately one in five workers are self employed, it is a concern that so many are more likely to financially protect their pets than they are themselves or their families.
"We know the average Brit could survive for just 17 days without an income, so it makes sense to take steps to guard against an unforeseen loss of earnings."
Other figures show that the UK pet industry is now worth around £3.4 billion with the pet food industry alone being worth £1.9 billion.
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