Tesco Bank’s Pet Insurance Index has found that the number of uninsured cats and dogs has dropped from 44% last year to 40% this year. Between the two species, cat owners are less likely to buy cover and 45% are uninsured, compared to 31% of dog owners.

Alex Cross, insurance director at Tesco Bank, said: “It’s encouraging to see the number of uninsured cats and dogs is falling. But it remains the case that a high proportion of cat and dog owners aren’t protecting themselves or their four-legged friends. Mishaps and illnesses are more common than we perhaps like to admit and that can mean bills well into the hundreds, if not thousands of pounds.

“The number of pet owners who are self-insuring but don’t have any savings set aside is also worrying.”