Britain is a nation of animal lovers and our pets are often like members of our family. This is why pet insurance is essential – if your pet were to get sick, veterinary treatment could be very expensive. Pet insurance can protect you from having to make a difficult decision about whether or not you can afford to care for your ill or injured animal.
Pet insurance can vary enormously in price and the level of cover provided, so it’s a good idea to compare pet insurance.
Use this simple guide help you compare pet insurance and find a policy that’s right for you and your pet.
What does pet insurance cover?
Pet insurance is available for lots of different animals – from dogs, cats and horses to rabbits, parrots and snakes. The level of cover and the cost differs between policies, so when you compare pet insurance, think about what kind of cover you and your pet will need. Here are some of the different features available, to help you decide what you need from your pet insurance:
- Help towards the cost of veterinary treatment if your pet is ill or hurt in an accident
- Compensation if your pet dies, or is lost or stolen
- Help with cost of finding your pet if it is lost or stolen
- Third party cover ( if your pet hurts someone or damages someone’s property.
- Travel/holiday cover
- Kennel/cattery/boarding fees
- Dental cover
What are the main kinds of pet insurance?
When you compare pet insurance, there are three main kinds to choose between:
- Annual pet insurance – annual pet insurance is usually the cheapest option. However, bear in mind that when the policy ends if your pet is in the middle of treatment you will no longer be covered. If your pet is being treated for a long-term illness, it can be tough (and expensive) to find pet insurance for them.
- Lifetime pet insurance – with lifetime pet insurance, you still have to renew your policy each year and the premium can increase, but it does mean that your pet will be covered for long-term conditions. This kind of cover is more expensive, but provides real peace of mind.
- Limited pet insurance – limited pet insurance will cover your pet up to a set amount for a condition. This kind of cover is not suitable if you want to cover your pet for a long-term illness.
What do I need to remember when I compare pet insurance?
- Mention existing conditions. It will make your premium more expensive, but it’s essential that you disclose all details about your pet’s medical history, as the provider won’t pay out if your pet has a pre-existing illness they didn’t know about.
- Think long-term. If you opt for annual or limited pet insurance, and your pet develops a long-term condition the provider may not reinsure you. If you opt for a lifetime policy, make sure it’s the right one as you’ll have little choice but to stick with it if your pet does get a long-term illness.
- Check pay out limits & time limits. Some pet insurance policies have a limit on the amount they will pay out each year or a time limit on how long they will pay out for one condition.
- Do you have to pay an excess or a percentage? With most policies you’ll have to pay an excess, e.g. the first £50 of every claim, but some also specify that you have to pay for a percentage of the treatment your pet needs. The higher the excess of percentage, the cheaper the policy.
- Are hereditary conditions covered? Some policies don’t cover hereditary conditions, which can be a concern with some pedigree breeds, which are more likely to have inherited illnesses.