Why choose not to offer pet insurance? GEICO don't!
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Written on: 19.11.2009 [01:40]
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Hummel
Topic creator
Posts: 3
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Why doesn't everyone offer the same insurances? GEICO don't offer pet insurance. GEICO offer every other kind of insurance instead tho! How do they decide what their product range will be? |
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Written on: 20.11.2009 [15:44]
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Claire
Claire
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Usually a company will only offer a service or product if it creates profit for them. As you say, GEICO offer a huge range of insurances, so I'm sure they are choosing not to offer pet insurance for a reason. Either they are planning to offer it in the future or they have already assessed the business opportunity and decided it's not worth their while. Pet insurance is unfortunately one of those insurances where claims will always be made because pets tend to get ill a lot and owners tend to rush them to the vet a lot... and vet bills are super expensive! Since the insurance is pretty cheap (often just £5 a month) the chance of the insurance company making a big profit is smaller than with other types of insurance! |
| Also very interesting: | |
