Pet insurance
Ownership of a pet brings huge rewards, but also brings responsibilities. One of these responsibilities is to provide healthcare for your pet, another is to protect yourself and your family from unexpected, expensive veterinary bills.
Animals are just as susceptible to illness and injuries as their owners and two out of three pets need veterinary attention every year. With veterinary fees unfortunately continuing to rise at a faster rate than inflation, it’s worth considering pet insurance. Here are some things for you to consider:
You can get pet insurance for all types of popular pets, such as a cats, dogs, rabbits and horses.
If your pet had an accident or serious illness then would you have money to pay for necessary veterinary treatment? Fairly minor treatments for pets can cost hundreds and sometimes thousands of pounds. If you have insurance, the decision to get veterinary treatment will not be made based on your financial position, but on the best welfare for your pet.
Examples of costs for common veterinary treatment:
- £150 for treatment for a dog after swallowing grass seed
- £3,000 for x-rays and surgery to repair a dog’s injured knee
- £750 for a cat injured in a road traffic accident
- £1,500 for surgery for a dog that has eaten something dangerous
Many pet owners who have no insurance and no savings face the heartbreaking decision if their pet falls seriously ill or is badly injured to euthanase or rehome their pet.
Research from Petplan found that you are more likely to have to claim on a pet insurance policy than you are on your home or car insurance, yet only a third of the country's 16 million dog and cat owners insure their animals.
Current average pet insurance claims are £715 for a dog and £501 for a cat (source: Petplan).
Some insurance companies offer extras to the cover (i.e. advertising for lost or stolen pets, the cost of boarding kennel/cattery fees if you are hospitalised, help with legal costs if your dog causes an accident resulting in 3rd party damage or injury).
Dog insurance can cover you for ‘Third Party Liability’, for example if your dog runs out onto the road and causes a car accident, the accident may be deemed to be caused by your pet and you could be liable financially for the cost of repairs to both cars.
You could also consider self-insurance, instead of paying pet insurance premiums you could put money in a savings account, so that if your pet needs veterinary treatment you use this to pay for any potential pet emergency. If there are no problems, you keep the cash. However, there are obviously dangers to consider, as you’ll be stuck if an expensive problem arises before you’ve built much cash up, and your pet won’t be covered for ‘third party liability’.
Choosing a policy
As with all insurance, premiums vary significantly so you need to shop around. There are certain factors which affect the amount you pay, i.e. the species, whether your animal is pedigree, your pet's age and where you live.
It's important to look at more than just the price as the level of cover also varies from one insurance company to another, check the following:
Excess - the amount of any claim you have to pay, usually per condition.
Vet's fees - most policies have an annual cap on the amount they will pay out or the amount they pay per condition.
Exclusions - common exclusions are neutering fees, vaccinations, dental treatment and existing medical conditions.
Lifetime cover - this can be quite important if your pet develops a long-term condition, such as allergies or diabetes. Some insurance companies will only cover you for that policy year, rather than the life of your pet.
2 Comments
Check the fine print. I had a dog which was from a rehoming centre.It had skin problems when we got him which our vet managed to heal.About 1 year later our dog had another skin problem and although it was nothing to do with the original problem ,Petplan would not reimburse costs because my vet had used a term which simply meant "of the skin"and they deemed it to be something that he had before the policy started.My vet sent the company a letter explaining that this was not a pre-existing problem but they would still not pay out. So I cancelled the policy.
Please, everyone, insurance is essential. When I was out of work due to redundancy two years ago my cat had a back problem that meant he could no longer use his bladder or his tail and it was touch and go as to whether or not he would pull through. My partner is actually a veterinary surgeon but the extent of my cat's injury meant that he had to be referred to The Royal College in Potters Bar and their specialist team of neurologists. Whilst The Royal College is not for profit, the bill still came to £5,000 which I would have had no way to get hold of at that time, not even by bank loan, being unemployed. I will be eternally grateful to my wonderful insurance company, Direct Line and the Royal College, who have made it possible for him to be snuggled under my arm as I write this. Without a doubt, it is the insurance policy I most value, I am sure that I have had every penny I have ever spent in ten years for both of my cats back on this one injury (sorry Direct Line!) So please get a good policy (be sure to get details of the cover, for example some only cover a condition for a 12 month period) or put something away for this, the consequences of not doing so don't bear thinking about.