Pet Insurance Articles |
The cost of veterinary care is spiraling as new treatments and drugs become available. If you want to ensure your pet gets the best up to date care and you want to shield yourself from the cost, you undoubtedly need pet insurance. This article fills in the background. Protect Yourself Against High Vets Bills.
It is a fact that almost half the UK's pets need veterinary care each year with vets fees growing largely because of advances in vet treatment. Pet insurance is primarily designed to cover the cost of veterinary fees for the treatment of illness and injury and, due to high claim levels and high treatment cost, it is far from cheap. But hundreds of thousands of pet owners believe the cost is worth the peace of mind it brings. But, whilst you may be convinced that pet insurance is worth buying, you may not be prepared for the complexities of comparing policies. Be warned: pet insurance policies vary hugely in the type of cover they provide and price. And to add to the complexities many providers offer three or four different levels of cover. That makes it a confusing market, not least because insurers often use similar words to describe very different types of cover – for example, beware of the commonly used phrase "lifetime cover". Different insurers use it to describe different things so read the small print very carefully! Our research results We know that our research was neither scientific nor exhaustive as it did not include all the policies on the market. And, of course, it only gave a results for one moggy kitten in one postcode – our apologies to dog owners - but time prevented us from doubling up and getting quotes for a puppy as well. Anyway our results should hopefully provide pointers to all pet owners.. At the premium end of the market is the fully comprehensive, cover-for-life policy. These policies are costly but you pay for what you get. However, if you are on a tight budget, you'll probably opt for a c12 month policy on the basis that, if you can't afford a comprehensive policy, it's better to have something rather than nothing at all. Vet fees The premium and - but not always - the priciest policies are "covered for life" policies. These insure you for vet fees up to a certain amount per year and, provided you renew your policy, reinstate the same amount of fee cover each year irrespective of the number of claims you make. The essential point to appreciate is that these policies will pay the costs of treating ongoing and recurring problems such as diabetes, arthritis and eczema. The premiums is reset annually and will rise as the pet gets older. The next level down in terms of cover for vet fees and cost are "financially capped" also known as "maximum benefits" policies. With these there is a maximum amount of vet fees cover for each condition. The third level is the most restrictive and therefore the cheapest. These are the "12 month" policies. Again, there is maximum amount per condition but also adds a limit of 12 months during which vet fees will be covered for each condition. After that 12 month period that condition is not insured. Routine treatments? The Cost Animals living in the London area cost more to insure than those living in other UK cities, suburbs or the countryside. Premiums also increase the older the pet becomes, as the risk of illness rises. Some insurance companies will only offer cover for dogs and cats under eight or nine years old. But if your pet is already insured when they reach the upper age limit, the insurer usually agrees to continue cover though premiums are likely to increase sharply. Most policies carry an excess or pre-payment of the first 10 to 15 per cent of the total claim or for a course of treatment for each illness or condition. As a general rule, the cheapest pet insurance cover starts at around 5 pounds a month for a non-pedigree cat or 7 pounds a month for a non-pedigree dog. Other insured benefits
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