The Co-operative bounds into the Pet Insurance market

December 13, 2010

The Co-operative Insurance has strengthened its customer proposition with the launch of a new, affordable pet insurance product.

From today, The Co-operative Insurance, will be offering dog and cat owners the peace of mind that if their animal is ill or injured, at home or abroad, their treatment will be covered.

Prices start from £10.69 per month for dog cover and £6.32 for cat cover with policies bought online benefiting from an additional 15% discount.

 

Two types of cover are available:

  • The Classic cover option is designed for pet owners looking for essential cover for their pet and pays out up to £2,000 for any illness or injury sustained for 12 months after the condition is first identified.
  • The Select Plus option offers a more comprehensive insurance where each new illness or injury is covered throughout the pets life, regardless of age or how long the condition lasts - as long as the policy is renewed each year.

Policyholders have the option to add on optional bundles*:

  • The Additional Benefits bundle covers a range of eventualities such as holiday cancellation and loss, theft or straying of the pet.
  • The Pet Travel bundle covers emergency vet’s fees, emergency repatriation and quarantine expenses.

With Christmas just around the corner, research by The Co-operative Insurance has revealed that dog and cat owners are planning to spend 10 per cent more on their pets this Christmas, than last year, with an average of £11.78 being spent per pet on an array of treats.

By contrast one in four respondents admit they are not buying Christmas presents for friends, family or colleagues at all this year and of those still spending, nearly half (44%) are spending less than last year in an effort to save money.

Proving that we are a nation of pet lovers, over half of pet owners (52%) believe pets are part of the family and should automatically receive a present; nearly a third of people buy their pets presents simply because they love them; while 7% believe their pets deserve to be treated.

In comparison, those who have decided not to buy for friends and family have done so to save money (37%), as they have fallen out with family (27%) and because they have no money left (24%). One in ten have decided to give money to charity instead (10%) or save up for a big holiday in 2011 (6%).

Lee Mooney, Head of Pet Insurance at The Co-operative Insurance, said: “Unfortunately the majority of vets fees are an unexpected and unplanned for expense which can leave many pet owners extremely worried at what is already a distressing time when their pet is unwell.

“The new product provides an affordable, comprehensive cover with a range of flexible add on bundles so that policyholders are able to tailor the policy to meet individual needs and requirements.

“Cats and dogs provide companionship to many people and at Christmas it is apt that these animals are shown just how appreciated they are. As dogs and cats are such valued members of the family their health is of massive importance and it is vital that people ensure that they have adequate pet insurance in place to ensure that their pets are protected throughout the year.”

With the addition of a new pet insurance product, The Co-operative Insurance now offers a comprehensive range of insurance products including; Motor, Home, Travel, Pet and Breakdown.

The Co-operative Pet Insurance is available online at www.co-operativeinsurance.co.uk or by calling 0800 294 1021.

 

The Co-operative Pet Insurance Key Product Features

Classic

Select Plus (life cover)

Vet Fees Cover

£2,000 £5,000

Complimentary treatment

£750

Free Legal Helpline

Yes Yes

Third party liability (optional -dogs only)

£1m

£1m

 

Additional Benefits (Bundle)

Classic

Select Plus (life cover)

Death from illness or injury

£1,500

£1,500

Holiday cancellation

£2,000

£2,000

Loss by theft or straying

£1,000

£1,000

Advertising & reward

£1,000

£1,000

Boarding fees

£1,000

£1,000

 

Pet travel Cover (Bundle) 

Classic

Select Plus (life cover)

Emergency vet fees £2,000 £5,000

Advertising & reward

Up to £300 per year

Up to £300 per year

Emergency Repatriation

Up to £500 per year

Up to £500 per year

Quarantine expenses

Up to £1500 per year

Up to £1500 per year