Choosing Pet Insurance

Choosing Pet Insurance

Many pet owners dont consider the cost of vet treatment until they are handed a bill usually when they take their puppy in for its initial vaccinations. During this first visit, practice staff may try and actively promote a particular pet insurance policy, or give out leaflets from a range of providers. But as these policies give cover for unexpected, not routine or preventative treatments, why bother? How likely is the unexpected?

Pretty likely as it happens. Each year, one in three insured dogs will require treatment that results in a claim. This is against a background of rising bills, as the range of treatments and diagnostic services on offer is improving all the time. Vet bills of 200 are common and if the condition affects the patient over a lifetime, the cost can run into thousands of pounds.

Choosing the right policy

Having decided that the concept is a good one, how does the owner choose a pet insurance policy thats right for them. Prudent owners shop around, theres plenty of choice, with lots of different products on offer. Most insurance companies are happy to provide a quote over the phone, or via their web site.

The vast majority of pet insurance policies fall into one of two types. Generally the cheapest are annual policies where the obligation to pay out on claims runs out at the end of 12 months. This is fine, but the treatment for certain conditions can run for longer, even the lifetime of the pet. This is where policies that provide on-going cover win out. As long as the customer continues to pay the premium, the policy remains in force.

The cost of the policy is determined by a number of factors. The most obvious is the amount of cover on offer. Quite naturally a pet insurance policy that offers cover of 5,000 is going to be more expensive than one that provides 1,000 cover. The age of the pet is also a key factor, the older the animal the more expensive the policy. This is simply because like humans, older pets are more prone to illness than younger ones. Some insurance companies will not even provide insurance for pets over 8 years old, because they are considered an unacceptable risk.

Not only vet bills

As well as protecting policy holders against vet bills, some pet insurance policies will provide extra benefits. These include third-party liability cover. As the UK population is becoming increasingly ready to sue for damages arising from the actions of others, this could come in handy.

Not all vets charge the same this is a private healthcare system, so individual practices are free to set their own prices. Therefore, most pet insurance companies will also adjust the premium based on the postcode of the customer. Not surprisingly London comes out as the most expensive.

The breed of pet is another consideration. Pedigree dogs will cost more to insure than a cross-breed, because they are more prone to genetically determined conditions. Some breeds are renowned for being sickly, so as well as checking with a reputable breeder before buying, its also worth getting an insurance quote.

Responsible pet ownership requires an owner to have a thorough understanding of the costs involved. With vet bills taking a bigger slice of the budget it makes sense to plan ahead and be protected.