With the latest data showing the soaring cost of pet insurance, owners around the UK are looking for alternatives to providing for their loved one’s medical care. Pet insurance costs continue to outstrip inflation, with average increases of nearly 5% seen in the last six months alone.
Recent advances in medical care for animals is the main cause of the increase in the cost of pet insurance, which now makes the premiums unaffordable for many owners. Although 50% of the British public own pets, 75% of them don’t have insurance, with many citing the expense as a reason for not having cover.
British veterinarian Dr. Stewart Halperin, BVMS, MRCVS, founder and CEO of CarefreeCredit, says: “As a vet myself, I understand the problems faced when a pet-owner can’t afford the urgently-needed medical help required. This is why we established CarefreeCredit with its ability to provide 0% finance quickly for those in need of a loan to provide desperately needed treatment for their pets when their owners aren’t insured and can’t afford to pay a large bill all at once.”