Pet Insurance - help in difficult times.

October 10, 2008
Thumbnail image for Cat_and_fish.jpgWe are all aware of the financial squeeze currently gripping the country. The future is less clear than ever.  More and more we find clients are cancelling their pet insurance or moving to cheaper policies which have problems in the fine print.
 
It's better to have some cover than no cover however as costs of running a veterinary surgery increase so do the costs of treating your pet.

You can´t stop your bundle of mischief getting into scrapes. Independent research shows that in the last two years, over 1 in 2 pet owners had to make an unexpected trip to the vet (source: Mintel, December 2007). This is where pet insurance can prove helpful, as this type of cover allows you to enjoy the peace of mind that you will be able to get treatment for your pet should the need arise, and you won't have to worry about having potentially thousands of pounds stashed away in an account to pay for it.
With most pet insurance policies you will only have to pay the excess in the event that your pet requires treatment, and this is usually something along the lines of £60 or £95.
 
Apart from wanting to make your pet well again, there´s a whole list of ways your cat, dog or rabbit could cost you money. You may want to offer a reward if you lose your pet, pay boarding kennel fees if you are hospitalised and what if your dog causes damage to someone else´s property?

How to choose you pet insurance policy:

It is important that you check the small print of any pet insurance policy carefully to see what is and what isn't covered.
 
The cost of pet insurance will depend on a range of factors, and this includes the type of pet that you have, the age of your pet, your pet's medical history, etc. You may find that if you are insuring more than one pet you can get a discount.
However, whilst you do need to consider the cost of the policy you must also make sure that the policy provides the most benefits in terms of price - so, don't save a couple of pounds a month and go for the cheapest policy if it offers far fewer benefits.
  •  Does the policy offer lifetime cover or time-limited cover? Covered for Life policies provide a broad range of cover and are designed for pet owners concerned about their pet developing a long-term, chronic or recurring illness. These include arthritis or eczema and would need treating by a vet over a long period of time, often for life. As long as the Covered for Life policy is renewed each year without a break, the insurance company will continue to provide cover for any illnesses right into the pet´s old age.
  • What is the maximum value of veterinary fees covered per annum? l  When will cover begin once I have taken out my policy?
  • Does my vet accept direct claims from my insurance company? (we don't work directly with most insurance companies because they do not process claims quickly enough for us)
  • Does my vet charge for completing my insurance claim forms?   
Did you know that almost 45% of pet owners make a claim on their insurance policy every year? In fact, you are more likely to need to make a claim on a pet insurance policy than on either your home or motor insurance.

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