To help you decide if pet insurance is right for you, we've compiled a short guide that explains what it is, how it works and how you could save money but still find the right cover.
What is pet insurance?
Pet insurance helps to cover the cost of veterinary treatment in the event of an insured pet falling ill or being injured in an accident. Some pet insurance policies will also pay out if a pet dies, is lost or stolen or causes injury to a third party or damages a third party's property. Far from being limited to cats and dogs only, many pet insurance companies will cover smaller pets too, such as rabbits - and even exotic pets, such as chinchillas and parrots.
Why do I need it?
Pets are a big part of our lives, so when they fall ill or are injured providing the best health care for them is important. With the advances in veterinary medicine, treatments are now available that were once reserved for humans, making once fatal conditions in animals now treatable. Veterinary practices also have access to much more sophisticated equipment than they did in the past, making it possible to detect and diagnose problems that would once have gone untreated. Inevitably, these types of treatments and diagnostics come at a price, leaving some pet owners faced with a difficult choice. For this reason, many opt to take out pet insurance as not only does it provide valuable peace of mind against spiralling vets fees, but it also allows them to fully explore all available treatment options.
Pet insurance policies in more detail
Some pet insurance companies will allow you to choose from a range of excess amounts when you take out the policy – the higher you set the excess, the cheaper your premiums are likely to be. However, remember to always set the excess at an amount you can comfortably afford should you need to make a claim.
What about pre-existing conditions?
A pre-existing medical condition is one for which a pet actually received care, treatment or veterinary advice before the cover came into effect. Most pet insurance companies will be willing to insure the pet, but will exclude the pre-existing condition from the cover.
Is pet insurance available for older pets?
Pet insurance companies typically treat dogs and cats aged eight and over as 'older pets'. Whilst cover is available for older pets, premiums are usually higher than for younger animals as they are considered to be at a greater risk of illness, particularly long term illnesses that are associated with age. Some pet insurance companies are still able to offer competitive premiums by increasing the policy excess or requiring that an additional contribution is made towards any claims. Where this is the case, it is usually a fixed percentage of the amount of the claim.
If you are looking to insure an older pet, the level of cover is important. Therefore always shop around and compare policies by features as well as price.
When comparing policies always compare on policy features as well as price, that way you can be sure you are getting the right cover for your needs. Spending a little more, rather than simply choosing the cheapest policy, may offer better value for money – but remember to check the excess on any policy you’re interested in before you buy. If you don't, you may have a nasty shock when you come to make a claim
What is pet insurance?Pet insurance helps to cover the cost of veterinary treatment in the event of an insured pet falling ill or being injured in an accident. Some pet insurance policies will also pay out if a pet dies, is lost or stolen or causes injury to a third party or damages a third party's property. Far from being limited to cats and dogs only, many pet insurance companies will cover smaller pets too, such as rabbits - and even exotic pets, such as chinchillas and parrots.
Why do I need it?
Pets are a big part of our lives, so when they fall ill or are injured providing the best health care for them is important. With the advances in veterinary medicine, treatments are now available that were once reserved for humans, making once fatal conditions in animals now treatable. Veterinary practices also have access to much more sophisticated equipment than they did in the past, making it possible to detect and diagnose problems that would once have gone untreated. Inevitably, these types of treatments and diagnostics come at a price, leaving some pet owners faced with a difficult choice. For this reason, many opt to take out pet insurance as not only does it provide valuable peace of mind against spiralling vets fees, but it also allows them to fully explore all available treatment options.
Pet insurance policies in more detail
Some pet insurance companies will allow you to choose from a range of excess amounts when you take out the policy – the higher you set the excess, the cheaper your premiums are likely to be. However, remember to always set the excess at an amount you can comfortably afford should you need to make a claim.
What about pre-existing conditions?
A pre-existing medical condition is one for which a pet actually received care, treatment or veterinary advice before the cover came into effect. Most pet insurance companies will be willing to insure the pet, but will exclude the pre-existing condition from the cover.
Is pet insurance available for older pets?
Pet insurance companies typically treat dogs and cats aged eight and over as 'older pets'. Whilst cover is available for older pets, premiums are usually higher than for younger animals as they are considered to be at a greater risk of illness, particularly long term illnesses that are associated with age. Some pet insurance companies are still able to offer competitive premiums by increasing the policy excess or requiring that an additional contribution is made towards any claims. Where this is the case, it is usually a fixed percentage of the amount of the claim.
If you are looking to insure an older pet, the level of cover is important. Therefore always shop around and compare policies by features as well as price.
When comparing policies always compare on policy features as well as price, that way you can be sure you are getting the right cover for your needs. Spending a little more, rather than simply choosing the cheapest policy, may offer better value for money – but remember to check the excess on any policy you’re interested in before you buy. If you don't, you may have a nasty shock when you come to make a claim
