How To Protect Yourself Against Rising Vet Fees

How To Protect Yourself Against Rising Vet Fees

What would you do if a loved pet became ill and the treatment were more than you could afford?

At least one national survey of pet owners asked that question, and the answers say a lot. Only 22% would have their pet put down if they could not afford treatment, the survey showed. The rest would be willing to risk their credit, borrow money and even forego planned holidays in order to ensure that their furry (or feathered) family member got the veterinary treatment needed.

The issue of veterinary costs has become a hot topic over the past couple of years as vet bills have increased substantially. Proper medical care for pets does not come cheaply. British dog owners alone spend over 800 million per year on care for their pets. The average cost of treatment is about 154, but vet fees can run far far higher than that. If your dog has a run-in with car and breaks a hip, for instance, the vet's fees can easily top 1,500. That's only part of the cost, though. Your expenses could be higher if your pet requires emergency treatment. In addition, while your employer might pay you for staying out with a sick family member, pet illnesses and accidents don't receive the same consideration. If you take the day off work to take your cat to the vet, you'll most likely lose a day's pay, and if you schedule an appointment on a weekend, you could pay as much as five times the standard vet's fees.

The answer to dealing with unexpected illness or accidents to your pets is the same as it is for any other family member. Good pet insurance can help ensure that you'll be able to afford the medical treatment your pet needs to get well and to stay well. Despite the rising vet bills, though, 85% of British pet owners do not carry insurance for their pets. If you're one of the 85%, take a look at the benefits you could have if you invest just a few pounds a month into insurance to cover your pet's health needs.

What Pet Insurance Covers

There's more to pet insurance than just cover for your vet's fees. Most pet insurance will also help out with other fees arising from your pet and his or her behavior. That might include repairs for damage caused by your dog or cat to others' property, legal and medical fees resulting from a dog bite and help with the expenses of searching for a lost pet. Some pet insurance cover may pay kennel fees if you are hospitalised overnight too, or reimburse you for a canceled holiday if you return home or stay home because of a pet's illness. It's important to read all the fine print in your insurance policy to know exactly what is covered by your pet insurance policy.

How Pet Insurance Works

In most cases, your pet insurance policy will pay for medical expenses on a "per incident" basis, after you meet a stated voluntary excess and up to a stated amount annually. If, for example, your pet requires treatment after swallowing a foreign object and your policy pays up to 4,000 per incident after a 50 voluntary excess, you'll only be required to pay out 50. Your insurance company will then pay the vet fees up to 4,000 for that incident. Later in the year, your pet slashes a paw pad open on a bit of broken glass, and the vet fees total 150. You'll pay out 50, and your pet insurance will pay out the remainder, even if it has already paid out the full 4,000 on the previous incident, because this is a new incident.

Do read the particulars of your pet insurance policy carefully for excluded conditions and illnesses. Because many breeds bear hereditary weaknesses, there may be exclusions for specific conditions to specific to your pet breed.