There’s no NHS for pets, yet according to one estimate, a staggering two-thirds of owners do not have insurance cover for their animals. And over a quarter (29%) put off taking their pet to the vet because they are worried about the expense. That’s perhaps understandable when you consider that these fees can be expensive and are increasing, according to some reports, by up to 15% annually.
This makes the cost of animal ownership potentially significant. For example, fixing bones, treating arthritis or operating on cataracts can cost thousands. Or your moggy could need £2,000 worth of veterinary care after a road accident.
Of course, you could self-insure your pet by putting some money aside yourself each month, but, if problems crop up before you’ve saved enough to cover vets’ fees, in the worst case scenario you could face a grim choice between finding the money some other way or having to end the life of a much-loved family pet.
And even if you have the funds available, in many cases if you do need to claim, pet insurance often still works out as the cheapest option.
Equally, policies for our furry, feathered and scaly friends aren’t just about covering vets’ bills. Some or all of the following may also be included:
* A reward to be put up if your pet goes missing
* Property damage
* Cattery or kennel fees if there’s an emergency or you are hospitalised or even dog walking fees if you can’t do this yourself
* Cover for your animal to travel overseas with you
* The cost of putting your pet down
* Bereavement counselling following the loss of your pet
With literally hundreds of policies around, prices vary considerably. Finding the right one for your animal, budget and situation depends on a number of factors, including where you live, as well as the gender, age and breed of the animal.
Bear in mind that in most cases pre-existing medical conditions like diabetes and arthritis are excluded, unless you’re happy paying a steep increase in premium.
Most insurers also either cap the amount of time or money you can claim for a single condition, at least for each period of insurance, so that is another thing to keep an eye out for.
Once the limit has been reached, you will need to find the cash yourself.
Just over a third of cat and dog owners, Britain’s most commonly owned domestic animals at seven million each, go for this most basic kind of cover. But you may be happier paying a slightly higher premium for greater peace of mind, especially if your pet already has a serious condition like cancer.
Finally, it’s worth taking your pet to see the vet before you insure the animal, since they can help advise on the sort of cover to choose.
Once you know what insurance product is best suited to your needs, it’s time to go to a good comparison website like comparethemarket.com which will zip your details to a variety of insurers’ sites and report back on the cheapest deals within minutes.
Then you and your pets can get on with enjoying life, safe in the knowledge that adequate medical care will be available if and when it is needed.
