Quickly skimming over it, I'm not convinced. It's so prescribed with the conditions it covers in the animal and it only covers the fabric of the building, not contents. What's the point in that when more often than not it's the sofas they go for first!
In my experience (and I have just a smidge), some landlords couldn't care less what insurances and extra deposits you give them, they just won't take pets full stop.
It's more about changing the attitudes of landlords overall. Perhaps if this insurance was a little more comprehensive on both sides it would make more of a difference but as it is, £700 isn't actually a lot to replace carpets, doors and repair any wallpaper damage. The pet insurance side just seems a bit odd.