Brits insure pets more than income

13 November 2007

Survery reveals Britons insure their pets more than their income

People in the UK are more likely to insure their pet than their salary, a survey has found.

Insurer Friends Provident found that while 18.5% of Britons have an insurance policy to cover medical bills for their pets and 11% have some form of insurance cover for their mobile phone, only 10% take out income protection cover.

The survey found that few people had the policy, despite the fact it insures income if they fall seriously ill and cannot work.

Additionally, the insurer said that of those who did not have cover, less than half thought they would be able to support themselves, claiming they would have to rely on either a family member or state benefits.

Mark Jones, protection products and actuarial manager at Friends Provident, said: "It's a sign of the times that people place more importance on their mobile phone or their pet than on their health."