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Pet Insurance

Pets are loved members of our families, so it's only natural that we want to make sure they're well looked after should the worst happen. Veterinary bills have the habit of hitting us hard in the wallet when we least suspect it. Therefore, to avoid paying through the nose for the vet, it makes sense to take out pet insurance.

Pet insurance doesn't just cover your pet if they fall ill are injured. It can also pay out if your pet is lost or stolen, or if it injures a third party: particularly useful if you leave your pet with a walker or pet sitter. This doesn't apply to cats however: they're deemed 'free spirits', so owners aren't responsible for their actions!

If you're leaving your pet in a kennel, cattery or similar when on holiday, pet insurance can help cover the cost of you cutting your break short in the event of a pet falling ill or being seriously injured while you're away.

There are typically three different sorts of insurance options available for pet owners. These are:

A set period policy
The cheapest option, these usually last about 12 months. It's important to remember that if a pet is midway through a program of treatment when the policy ends, it will no longer cover the treatment.

A limited cover per condition policy
This covers conditions up to a certain sum. Anything more will be liable to the owner. It may not provide complete protection should an ongoing illness occur.

A full lifetime policy
This sort of policy will cover a pet through its entire lifetime, provided it isn't cancelled, with a cover limit per condition every year. It's the most pricey option, but will also deliver far more peace of mind.

Other implications
For more senior pets (insurers usually deem cats and dogs who are eight years old or over as 'older' animals) insurers tend to charge higher premiums. Likewise, pedigree animals or rare breeds attract higher premiums due to several reasons, including their value to thieves and the higher incidence of illness and medical conditions: particularly in the case of some breeds of pedigree dog.

Also, most policies put an annual limit on the amount you can claim, and there may be further restrictions on the amount you can claim for each condition. Watch out for other possible exclusions - many policies do not cover spaying/neutering, annual vaccinations or pre-existing illnesses.

How to save on your pet insurance
When it comes to saving money on your pet insurance, it pays to shop around for the best deals. It's a great time to do it if your pet isn't presently undergoing treatment and your insurance is up for renewal: you might be able to find a cheaper policy elsewhere. Using a comparison website is a really easy way to do this. They allow you to browse quotes from many insurers with just a few simple clicks.

When comparing, make sure you take the features of the policy as well as the price into account. After all, it should provide the right cover that you need. And remember to check the excess should you need to call on your insurance. You may be in for an unwelcome shock in the unfortunate event of having to make a claim!

Choosing to pay a higher excess (the mandatory amount you have to pay towards any claim) will also keep the cost of your insurance down. But it should never be set at a level that you're unable to afford, so take care.