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 Or should we say “why” you should insure your pet?
If you have pets, you’ll know just how important we are to you. The love and comfort pets like us provide you and your family cannot be measured or equated easily into a financial equivalent. But, if we become ill, vets costs can run into the thousands, and many owners who have not insured their pets have no choice but to pay the costs or consider the unthinkable. With one in three pets requiring treatment each year, we can’t stress the importance of considering pet insurance any stronger.
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In 2002, our owners discovered that Teddy had a problem with his hip (jumping after too many postmen!!!). Luckily Teddy was covered by oet health care insurance, and it was good job too as the surgery was expensive and would have cost our owners over £1000. But as he was insured we only had to pay the excess which was around £60.
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With numerous insurance companies offering very competitive premiums, its well worth making sure your own Kitty, Teddy or other pet is suitably covered by pet health insurance. In this guide we’ll outline the reasons for taking out an insurance policy for your pet and share with you our top tips for finding pet insurance that meets your needs and how you can cut the costs.
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Where to find suitable cover?
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So, where do you start and what types of cover should you look for? With hundreds of companies offering pet insurance, it really can seem like a huge task. But a few calls or visits to insurance company web sites should enable you to find the right cover for your pet (with minimal impact to your pocket).
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As with all forms of insurance, premiums vary due to the type of pet you are looking to insure, his or her age and your location. So, we can’t let you know which company is the cheapest; you’ll just have to do a little searching for yourself to find the best policy. However, there are a number of insurance companies who offer online quotes; a few our owners have used are:
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www.petplan.co.uk (at the time of writing, they were doing a 2 months free offer see: www.petplan.co.uk/2monthsfree
www.rspca.org.uk (follow link from main page)
www.morethan.com (follow link from main page)
http://uk.virginmoney.com/pet-insurance
www.tescofinance.com
www.animalfriends.org.uk
www.asdafinance.com/pet-insurance.html
www.sainsburysbank.co.uk (follow link from main page)
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Insure or not to insure?
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If your pet is old, insurance premiums are likely to be higher. So, carefully consider whether it’s worth taking out an insurance policy at all – remember, old age will get us all in the end and there is nothing a vet can do to overcome that.
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You could opt to ‘self insure’ – with this method you put the money you would spend on pet insurance in a bank account earning you interest, to use if and when an occasion arises. If it doesn’t arise, you’re better off, but if you need to pay for a pet’s health condition and have only just started to pay into your self insurance pot, you may not have enough to cover the condition.
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Shop around
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Contact a few companies for quotes before agreeing to an offer, to find the most competitive quote.
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Check the level of cover
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You may find that some policies are cheaper than others, but do they offer the same level of cover? Does the policy cover any existing conditions? Many policies don’t or will apply additional excesses for those conditions. Make sure you read the small print.
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Additional benefits
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Many policies will also pay you a sum if your pet is missing so you can advertise, offer a reward or cover costs if you have to cancel or curtail your holiday. They may also offer to pay boarding fees if you have to go into hospital or even cover legal fees if your pet injures someone else or their property.
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Excess fees
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What is the excess if you are making a claim? Can you increase the excess to reduce the annual premium? (Clearly, only choose this if you are able to afford the excess fees).
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Cover for long term conditions
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Be careful of policies that only pay out for a limited time. We would recommend that you opt for a policy that pays out for the lifetime of your pet. I.e. if your pet develops a life long, recurring or chronic condition – the policy will continue to pay out to treat the condition. Particularly important if you have a pedigree cat or dog, as we’re prone to such illnesses. Watch out for polices that are called “lifetime” cover policies, but are not truly lifetime policies as the cost does not remain the same for the duration of the cover and can increase each year, and they do not cover your pets condition for longer than a year.
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Hereditary conditions
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Many pedigree pets may suffer from hereditary conditions. Some insurers won’t cover you for these, so read the small print.
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Cover for small, large and exotic pets
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Pet insurance isn’t only for us cats and dogs, some pet insurance companies also offer pet insurance policies that cover rabbits, hamsters, spiders, snakes, horses and many other popular and exotic pets.
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Kitty & Teddy’s final word
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When calling or requesting a quote, be honest – you may reduce the premium by shaving off a few years here or changing a few details there, but this is pointless as this may mean that your insurer may choose not to pay for an illness that does arise if they find you have not been truthful when making the application (especially with regards to pre-existing conditions)!!!!
(Kitty & Teddy only speak cat / dog language and are unable to type these articles themselves because their paws are so big. For these reasons, this article has been translated and written by the My Pet Friends team writer listed at the beginning of this article.)
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