Pet insurance is growing with more coverage and services since the pandemic

"On the occasion of World Dog Day on 21 July, GCO's (Grupo Catalana Occidente) traditional business companies, which will soon merge under the new Occident brand, have carried out a profile of insured dogs: it is an average of 3.5 years old and is mixed breed, followed by the most frequent breeds of German shepherd, Yorkshire terrier and border collie"

For years now, more and more people have started keeping pets in Spain. In 2023, the number of dogs and cats registered amounted to 15 million, an increase of 38% in the last three years following the pandemic, according to data from ANFAAC. Of this total, 9.3 million of pets are dogs, while 5.8 million are cats. With regard to the annual cost we spend on each pet, maintaining a dog costs €1,260 a year. Half of the expenditure corresponds to food, and the rest to hygiene and health. In fact, in the last 12 months, nine out of ten dogs have attended at least one veterinary consultation. And 45% of the owners had to take them to emergencies in the last year, according to the OCU.

Aware of this reality, GCO's (Grupo Catalana Occidente) traditional business companies, which will soon merge under the new Occident brand, have carried out a study on the profile of insured pets from the details of pets protected with insurance policies, which was launched on the market in 2021, to mark World Dog Day on 21 July.

Specifically, of the total number of animals protected with this product, 91% are dogs compared to 9% cats. Mixed breeds are the most insured dogs, followed by the most frequent insured breeds, in this order: German shepherd, Yorkshire Terrier and border collie. With regards to their age, of all the dogs insured in the insurance group, the average is 3.5 years, with dogs up to one year being the most common, with 28.5% of the total portfolio. 37.18% are aged between 2 and 4 years old, 29.63% are from 5 to 8 years old, and 2.85% are from 9 to 13 years old.

Tailor-made protection for dogs and cats

"In recent years, the demand for protection for pets has increased significantly. Through different products, GCO's traditional business companies offer multiple coverages specially designed for dogs and cats, such as veterinarian advice, staying in affiliated clinics, civil liability defence, compensation for theft or coverage for death expenses" explains Antonio Tejero, Director of Private Insurance in Traditional Business at GCO (Grupo Catalana Occidente). In this regard, the insurance group currently offers its customers services specially designed to protect pets through their Mascotas product, as well as through specific coverage in their Home and Funeral policies.

One of the differential values presented by the insurance group's Pet Insurance policy is that customers can freely choose the veterinary centre of their choice, whether or not it appears on the list, and will receive 100% reimbursement for veterinary expenses due to accident and illness provided that the risk is covered (veterinary consultations, diagnostic tests, laboratory tests, surgical procedures, etc.)

Furthermore, among the new coverages of the policy, discounts are offered in subsidised boarding kennels and catteries, in dog grooming centres and training services, among others. In-person veterinary advice, with free and unlimited consultations (not urgent) at authorised veterinary centres from the list.

It should be noted that the customer can set up the protection of their pet according to their preferences and needs. Thus, among the optional services, Mascotas includes, for example, the admittance of an animal in a residence due to urgent hospitalisation of the insured pet, whether due to an accident or illness; or the coverage of total or partial expenses of cancellation of travel in the event of an accident or loss of the animal.

In the event of loss of the dog or cat, Mascotas pet insurance includes the expenses necessary to locate it, such as the distribution of posters, press and radio ads, as well as compensation in the event of theft of the pet. In the event of death, it includes the collection and transfer service for the animal and the cremation and urn expenses.

Cover for pets on home and funeral insurance

The insurance group's home insurance also includes specific benefits to protect customers' pets, even when they are travelling. In this context, it should be recalled that from 28 September 2023 the Spanish law will oblige owners to have public liability cover for all types of dogs. In this regard, the product offers the options needed to protect them even if it is a breed considered potentially dangerous under Act 50/1999, such as Pit Bull Terrier, Staffordshire Bull Terrier or Rottweiler.

Likewise, funeral insurance from traditional GCO business companies also includes services for pet animals. The main cover of this policy is the collection, transfer and cremation of the dog or cat in the event of death; It also offers a free and unlimited veterinary consultation service, as well as a list of services with subsidised prices.