The number of new pet insurance policies has surged since renters were given greater powers to request a furry friend. UK pet insurance brand Waggel has seen a flurry of new pets signed up for insurance since the new Renters' Rights Act came into effect on May 1.
New Rights for Renters
Tenants now have the right to request permission to keep a pet in their rented home, and landlords must consider requests fairly. This means property owners can no longer have a blanket 'no pets' policy. However, landlords can still reject a request if they have a valid reason - for example, if the property is too small for a large pet or several pets, or another tenant is allergic.
Surge in Insurance Policies
Waggel has seen a 26% increase in new pet insurance policies since the bill came into force, compared to the six months before that. When compared to April, an additional 20,000 people also came to Waggel looking for quotes in May. There was a 28% increase in new dog policies in May, compared to a 17% increase in cats.
Hannah Simpson, Chief Product Officer at Waggel, said: 'It's great to see the new legislation allowing so many people to welcome pets into their homes. Animal companionship can be incredibly rewarding, and has been proven to be beneficial for people's mental and physical well-being, so denying people this lifeline because they don't own their own home was terribly unfair. It's clear from this flurry of new pet owners that thousands of people have been counting down until the new Bill came in last month.'
Pet Insurance Considerations
There is no legal requirement to have pet insurance - but it could help you in the event of something unexpected happening. Depending on the type of cover you purchase, pet insurance can cover medical treatment for an injury or illness, as well as theft and any accidents they may have caused. If you are considering pet insurance, you should get as many quotes as possible by using a comparison website. You should also check for any cashback perks or sign-up rewards you could get by taking out a new policy. But keep in mind that most new policies won't cover past issues, whether you've claimed for them or not. You may be covered by an existing provider, but read the terms and conditions carefully.
