Pet insurers handled claims worth £2.2m per day in 2020

Despite pandemic disruption, pet insurers last year processed claims worth the second highest annual amount recorded according to figures from the Association of British Insurers.

Pet insurers processed claims worth £799m – the equivalent to £2.2m each day – mainly to cover the costs of veterinary treatment. This is the second highest figure since the ABI started collecting the data in 2007, and 80% higher than the amount recorded ten years ago.

The 2020 figures show 978,000 notified claims. These included 212,000 involving cats, 734,000 for dogs, with an equivalent value totalling £148m and £598m respectively.

More cat owners had pet insurance than ever with 1.06m policies and a claims value of £148 – a 10% increase on the previous year to an all-time high. The average claim value across all pet policies was £817, up 2% on 2019 figures.

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