New Zealand may be a nation full of pet lovers but research has revealed that its pet insurance market is still in its infancy – showing that a lot of owners may still be having second thoughts on insuring the furry member of their family.
Canstar’s survey to find the Most Satisfied Customers of pet insurance providers found that pet insurance is becoming more popular in New Zealand.
The majority of the respondents said they treat their pets as “part of the family” and they have pet insurance so they won’t be too worried when their pet needs medical attention. They also rated communication as the most important factor in driving satisfaction with their insurance providers.
However, Canstar clarified that the pet insurance market is yet to match pet ownership, as less than 10% of pet owners have pet insurance. Of those who bought pet insurance, more than half were aware of what it covered while 12% chose to purchase extra cover alongside basic policies.
“Our research confirms New Zealanders are a nation who loves their pets,” said Jose George, general manager at Canstar NZ. “However, animals can be expensive and we do encourage pet owners to consider insurance options to protect them from unexpected bills.”
To recognise the best pet insurance providers this year, Canstar awarded its Most Satisfied Customers Award to Southern Cross and Petplan for showing great quality of service. Southern Cross also rated highly on value for money and for ease of claims, while Petplan rated highly in communication and process.
“We pride ourselves on putting customers and their pets first, and work hard to consistently deliver a great quality product and experience,” said Anthony McPhail, general manager of pet insurance at Southern Cross.
“In the past year we’ve seen continued high growth in people seeing the value of protecting their pets’ health and we’re proud to lead a fast-growing industry in customer satisfaction.”
