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UK pet insurance sector leads the way

A report from research firm Datamonitor has confirmed what many already knew, that the UK pet insurance sector is literally leading the way round the world. We are seeing more and more complex operations carried out throughout the UK, often putting many of our worldwide competitors to shame. This has resulted in a significant increase in the UK pet insurance sector which is forecast to grow to around £600 million in 2011 from just £380 million in 2006.

While pet insurance in the UK is currently voluntary, with a debate raging as to whether it will become compulsory in due course, there is no doubt that demand is increasing. The ever-growing cost of veterinary treatment would appear to have pushed many pet owners in the UK towards pet insurance which is available for as little as a few pounds a month. The peace of mind, and practical financial benefits, afforded to pet insurance are for many pet owners becoming a necessity rather than an option.

This is a market which has literally grown from zero just a few years ago to a market which is potentially worth over £600 million. Competition is now rife in the pet insurance sector and there are significant benefits for consumers looking to insure their "best friends".

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