Companies vie for pet insurance market

Three companies have launched pet insurance products over the past few weeks, vying for a share in this as yet untapped market. It is estimated that one in every three pet owners experience unexpected trips to the vet.

Products have been launched by Allcare, Laferla and Middlesea Insurance.

Allcare’s Petcare policy provides cover for veterinary fees, advertising and reward costs in the case the pet is lost, boarding or pet minding fees in the case the pet owner needs to be hospitalised, holiday cancellation fees in the case the pet needs treatment, third-party liability, burial costs and an optional overseas pet travel cover.

Laferla Insurance Agency’s policy covers veterinary expenses, accident, sickness, death and theft, legal expenses and your liability towards others as the pet’s owner.

And finally, Middlesea Insurance provides coverage for veterinary care in case of illness or accident, theft or loss and expenses associated with the death of a cat or dog.

The policy also covers the costs of the pet’s stay in a kennel or cattery when the owner is hospitalised, the cost of advertising the pet’s loss in the media and reward in case the pet is recovered, legal expenses and third-party liability cover.