M&S Insurance Highlights the Spending Habits of Pet Owners in the UK

Pet owners love to ensure that they have done their best to care for their pets and this is something that is feeding down into their food buying habits.

According to figures released by Mintel Reports, £1.7 billion was spent on pet food in 2008, accounting for the 14.5 million cats and dogs that are owned by the British public. It highlights the sheer amount of food that is bought and consumed in the UK.

But M&S highlights another study in their press release, one that suggests that not only are British pet owners spending more, they are also more conscious of the food that they place in their bowl. This was part of a survey by the Pet Food Manufacturers Association.

The results are published as M&S Insurance announces a competition to win a year’s worth of pet food with M&S Pet Insurance.

The figures highlight one of many ways in which UK pet owners are looking after their pets, with various pet insurance providers encourages dog and cat owners to take better care of their pets to avoid a hefty veterinary bill. After all, a healthier pet that eats healthier food might not need treatment for obesity and as a result, will avoid their owner paying out on their pet insurance.

The study demonstrated that as much as 90% of pet owners are aware of what goes into their pet’s bowls, ensuring that they purchase the best quality food that will not be detrimental to their health.

Charles Sweeney of BestPet Pharmacy commented on the relation of pet food and the health of the nation’s pets: “Obesity is an increasing problem among cats and dogs. Pets that carry too much weight can suffer from heart complaints, diabetes and arthritis.

“Responsible pet owners who ensure their cats and dogs have a healthy diet and regular exercise can help reduce expensive vet bills in the future.”

Of course some ailments are unavoidable and so even if someone owns the healthiest pet alive, they would still be encouraged to take out an adequate pet insurance policy that will protect them in case of an unforeseen illness or accident. Whilst pet insurance cannot ensure that a pet’s life can be saved, it can take steps to ensure that they receive the help that they require.

Source: M&S Press Release October 2009

The Leading Home Insurer offering New Services to Student Landlords

Everyone remembers their student years, back when constant partying was only interrupted with nights out, socialising and even finding time to get some studying in. It is the time of many people’s lives that is cited as the best. But the student lifestyle is not a good thing for everyone and so far student landlords have been amongst those that might face difficulties in providing for them.

Due to the risks associated with students, landlords often find it difficult to find home insurance for their properties, leading insurance provider Aviva to step up its help for the student tenanted landlords. Aviva’s product development manager explains some of the details: “Landlords with student tenanted houses are not always easy to obtain cover for due to the type of risk. Aviva is expanding its underwriting appetite within this sub-segment to enable brokers to offer customers our Residential Property Owners product, which provides cover on an all risks basis.”

This will account for the properties typically inhabited by students in their second or third year of study (or beyond depending on the course or the location within the UK). The company will therefore offer quotes when people need them (using Fast Trade) for brokers that are attempting to find cover for student landlords.

If landlords are using Assured Shorthold or a Short Assured Tenancy Agreement then brokers that are providing insurance for them will be targeted by the new offer. It means that landlords will be able to gain cover for damage (either malicious or accidental) or rent loss.

According to Hamptons International CB Richard Ellis, the amount of students deciding to live in such accommodation is increasing regularly, with the rate of demand for student property expanding by 14% over a period of 5 years. This corresponds to figures from the Universities UK Report and HESA 2007/8 that states that 80% of students do not live at home.

Recent reports from Sainsbury’s Finance in 2009 state that around a third of students do not have their own form of home insurance that will provide cover for their personal possessions. As a result, they are particularly at risk from burglary.

Sources: Aviva Press Release Oct 2009 and Sainsbury’s Press Release Sept 2009.

Tesco Pet Insurance Points to rise in Women Claiming their Pet as a Companion

Over the years, pets (in this case dogs in particular) have carried out many role in society and as a result they have earned themselves the name of ‘man’s best friend’ – a phrase that transcends social, cultural and language barriers.

However, a Tesco Pet Insurance-commissioned study has found that 1 in 3 women consider their pet to be their best friend, which compares to 1 in 5 of men. Of the women consulted, they also found that 76% talk to their pets as though they were a human companion and 34% would prefer their pet’s company as opposed to a fellow human being.

Perhaps it should be made clearer that dogs are in fact ‘mankind’s best friend’ rather than simply ‘man’s best friend’? After all, the results suggest that fewer men actually consider their pet to be their closest companion.

The Press Release from Tesco Pet Insurance does not indicate the reasons as to why these results might have presented themselves. As such it can only be speculated as to why more women prefer the company of their pets.

However, one thing is certain – if people are feeling closer to their pets than ever, then perhaps they should ensure they have adequate pet insurance to cover the costs of emergencies.

They are thoughts echoed by Rachel Cutler, head of Tesco Pet Insurance: “Owning a pet can be a very rewarding experience – many people consider their cat or dog to be part of the family and even, as our research shows, their best friend. We also understand that it can be a costly experience.

“To enable pet owners to manage the costs of their pet insurance, our policies start from £4.50 a month for cats and £8.00 per month for dogs and we don’t change policy conditions as a customer’s pet gets older.”

Customers are, of course, urged to shop around for adequate cover. With many different pet insurance policies on the market, there are various different levels of cover available, all at differing prices. It means that research can make all of the difference in finding a pet insurance policy that suits the needs of the pet owner.

Source: Tesco Pet Insurance Press Release 2009

Simple yes or no on this one please. Answers on a virtual postcard (we like to do out bit for enviroment here)

Are the wheels on the car below worth more than the car?

YES OR NO

Home Owners Urged to Take Extra Care

When we take out any form of insurance, we might be doing so because we fear a range of incidents occurring, from theft and damage of items to structural damage.

However, one way in which both of these areas comes under great threat is through fires. In a recent press release from Aviva Insurance, they cite statistics released from the Association of British Insurers that shows a rise in fire claims from early 2007 to early 2009.

It means that the costs associated with fire damage are now at an all time high, with figures at their greatest amount since records began.

However, whilst these statistics are worrying enough on their own, more shocking is the report that many of the fire claims on home insurance are as the result of arson attacks on property.

“Fire claims are at their highest and we are seeing an increasing number of arson claims crossing our desks” said Allister Smith of Aviva, “Over 40% of all fires in industry and commerce are now started deliberately [according the figures from claims in 2009]”

He warns home and, in particular, business owners to be vigilant against such attacks. He cites a common cause of arson being waste storage outside of properties, where arsonists have been known to ignite bins and place them up against or near the property.

A range of preventative measures are encouraged by the insurer, ranging from businesses isolating electricity supplies to ensuring regular inspections are carried out on vacant or unfinished properties.

“Property owners should undertake risk management by implementing a number of cost effective measures.

“The Regulatory Reform (Fire Safety Order) 2005 (RRO) emphasises that the owner or employer in every workplace has a legal responsibility for implementing and complying with the Order. Businesses should have a strategy in place for managing fire safety, which includes identifying the risk of arson and acting to reduce it.”

Aviva cites statistics that claim 9,000 fires take place in empty buildings annually and damage caused the properties that are yet to be finished or generally unoccupied, are of great concern to insurance providers.

So having home insurance or any other form of insurance does not mean that people should not take necessary preventative measures to protect their property. With fire a serious threat, people should be very careful.

Source: Aviva Press Release Sept 2009