Dogs need pet insurance as dognapping escalates

Tue, 05 Jul 2005

With an estimated 2,000 pet dogs stolen every month, Sainsbury's Bank is urging pet owners to ensure their pet insurance policies cover them and their pooches adequately.

'Dognapping' is a growing crime in the British capital – with even Elizabeth Hurley reporting her eight-month-old black Labrador Emily as missing.

Enterprising thieves have stolen pedigree dogs and then attempted ransoming the animals back to their owners.

Sainsbury's Bank is therefore calling on pet insurance providers to provide more adequate cover to policyholders.

Adequate pet insurance should provide a reward of at least £250 for lost or stolen dogs, the bank argues.

Only half of pet insurance policies presently offer cover for rewards.

Datamonitor research recently found that only about 18 per cent of the 6.5 million British dogs have pet insurance.

Take-up levels of pet insurance policies are lower, especially among pedigree dog owners – the ones that need adequate cover the most.

Pet insurance has been launched recently by Asda, Argos, Superdrug and Virgin.

Sainsbury's Bank has been named as the "Best Overall Provider" for the second successive year in the 2004 Your Money Direct Awards.

Sainsbury’s Bank opened in 1997 as a joint venture with Halifax Bank of Scotland.

The bank has a range of available financial services, including insurance, loans, credit cards and savings accounts.

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