The latest survey on Pet Insurance reveals that more than one million Britons believe their cat or dog has been stolen over the last five years. Tragically 5,700 dogs and cats are lost or stolen every week and around 1,500 pets are involved in traffic accidents.

These high figures are not paranoia from pet owners. According to the Missing Pets Bureau report, 38% of those who reported their pet missing have actually been the victim of theft. UK pet owner are very concerned, though pet insurance is available to cope with the eventuality of a stolen pet.

Unfortunately, victims of lost or stolen cats and dogs may find that their pet insurance policy will offer little or no support towards the recovery of their pets. Around a quarter, of all pet insurance policies offer no reward for the return of lost or stolen cats and dogs and will not provide financial assistance to owners who want to try and find their missing pet by placing advertisements. Some pet insurers offer better packages than others for dealing with pet theft, including cover for ransom fees.

Specialists believe there are three main reasons why pets are been stolen:

1. Resale Price
2. Breeding
3. Ransom

Good quality pet insurance does not need to be expensive, so look around for the best pet insurance quotes.