The post The Smart Money is on Specialist Pet Insurers for UK Pet Owners appeared first on Katzenworld - Welcome to the world of cats!.

According to data from Smart Money People, the UK’s dedicated financial services review site, the pet insurers that receive the best customer reviews are those that operate solely in the specialist Pet Insurance niche. More than 26,000 reviews left over a five year period, and across 57 providers, were analysed.*

• Companies that only provide pet insurance and don’t offer other insurance types or additional financial products, received an average rating of 4.88 (out of 5) by their customers.

• Providers offering multiple types of insurance were close behind them, collectively receiving an average rating of 4.74.

• General financial providers that offer other non insurance products and may offer other banking and financial services, scored lower, receiving an average rating of 3.24

As well as scoring highest, specialist providers have also been the most consistent year-on-year.

The gap between the different types of providers is even more prominent when looking at the last full calendar year. In 2022, specialist providers and multiple insurers both scored more than twice as highly as general financial providers on average, at 4.9 and 4.84 respectively, compared to just 1.93.

Common complaints over pet insurance from general financial providers included disputes over payouts on claims, especially when with regards to pets with pre-existing conditions.

The top 10 pet insurance providers, as rated on Smart Money People reflect this. Of the current top 10, eight are specialist providers, one offers multiple insurance and one is a bank.

Despite the rising cost of pet insurance, the average ‘value for money’ score across all providers has remained fairly consistent year-on-year.

Jacqueline Dewey, CEO of Smart Money People said: “Since the pandemic, the number of UK households with pets has increased considerably. It’s important to have comprehensive pet insurance to protect yourself financially against unexpected costs such as vet bills, but it’s just as important to select the right provider.

“While premiums will of course be important to many households, especially at the moment, it’s important to consider more than just price, taking into account other aspects such as customer service, and how easy it is to make a claim. This is especially true if you have an older pet or one with pre-existing health conditions.

“Judging by our reviews, the smart money is on the specialists – they know their sector and customers inside out and because it’s the only thing they do, it gets their undivided attention.

“Checking customer reviews for your prospective insurer is advisable as it’s important to know that you’re buying from a reputable company. Whilst specialist pet insurance providers as a whole get good reviews, these are averages which means that some will still be better than others.”

Pet owners can leave reviews here.

The post The Smart Money is on Specialist pet Insurers for UK Pet Owners appeared first on Katzenworld.