Health insurance for Milo and Otis

Loving pet owners can now buy what could soon become the ultimate in accessories for the pampered companion animal – health insurance.

Loving pet owners can now buy what could soon become the ultimate in accessories for the pampered companion animal – health insurance.

Up to 10% of pets in Britain and the US are currently covered, but Australian insurers have only recently realised that besotted owners will fork out to safeguard the health of their furry kids.

Until recently, most pet insurance packages were offered by animal focused companies or organisations such as the RSPCA, but now mainstream insurers are getting in on the act.

Insurance mutual firm Manchester Unity last year launched its own pet insurance product and has already attracted hundreds of pet subscribers, The Australian Financial Review reports.

The price of the insurance depends on the animal – apparently dogs, at about a $1 a day, are a bit more risky than a cheaper-to-insure cat.

Many of the insurance products are underwritten by a company called PetSure. The biggest payout PetSure has had to meet? Over $13,000 for a spleenectomy for a fox terrier by the name of Cricket.

Read more on insurance and veterinarians

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