Pet Insurance Explained
Owning a pet can be an expensive business. Quite apart from the day-to-day costs of feeding and keeping your pet in good condition, there are many unplanned costs such as vets' fees which you might find it difficult to cover. Because of this, it's a good idea to take out a pet insurance policy which will protect both you and your pet - but only around one in 10 pet owners actually have a policy.
If you've decided that insurance would be a good idea, then it makes sense to find out a little bit more about the subject before deciding which insurer to hand your premiums over to, and this article explains some of the common features of pet insurance policies.
Costs
Most pet insurance policies you'll find advertised on the web will be for cats or dogs only, and prices start at around £5 a month for a cat and a little higher for a dog, often around £7. There are plenty of other animals that people keep as pets though, and most pet insurers will be able to offer you a specialist policy to suit your own situation, but be prepared to pay a little more than the prices advertised for dogs and cats.
Vet bills
This is the most common reason for taking out a policy, as if your pet suffers and accident or serious ill health then the costs can mount up dramatically. A major operation could cost up to £5,000 in vets fees, and insurance will make sure your pet gets the treatment they need. There are a few things to look out for when seeing which vets bills your policy will cover:
-- Routine treatments and existing conditions
Most policies won't cover routine treatment of your pet such as vaccinations, worming, and flea control, nor is it likely to cover a pre-existing conidition or illness that your pet has. You must also tell your insurer about any existing conditions, or your policy might be invalid and not pay out when you make a claim.
-- Long term illnesses
For some diseases or conditions that last more than a year, such as arthritis or anything else that will require long term treatment with drugs, your policy will probably only cover treatment until it's time to renew your insurance or 12 months have passed. After that, you'll either have to cover those costs yourself or your policy might end altogether.
-- Maximum claim amount
Most policies will have a maximum claim amount - but check exactly what this means. Some policies limit the amount you can claim in any one year, while others will set a limit for how much you can claim for each illness or accident your pet has. Obviously, a policy with no claim limits would be best, but this will cost you a lot more.
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