Is Pet Insurance Worth It?

Considering the numerous pet owners in the UK, how many have pet insurance to cover their canine or feline companion? Is the money worth having pet insurance if your pet is healthy? What exactly does pet insurance cover? How much are the premiums? These are some questions to ask yourself when thinking about pet insurance.

Pet insurance has become a popular topic as more people spend more money on their pets. Celebrities with toy dogs, and more companies producing and marketing pet products are leading to a new wave of pet consumerism. Designer clothing to organic foods are being sold for pets in local pet stores and now we’re seeing the new trend of pet boutiques. With all the focus on pets, what do plans for pet insurance cover?

With many plans, owners have a choice of the amount of coverage they want. Some plans cover vet visits, illness, death, boarding, rewards and advertising costs if your pet gets stolen or wanders away, any accidental damage the pet may cause, or cancelling a holiday trip because of your pet. Most plans do not cover spaying or neutering of an animal, or veterinary bills associated with pregnancy or breeding, but check with your provider to be sure.

The small print needs to be read before signing any policy. Many plans will not cover treatments for any pre-existing conditions; and all virtually all policies exclude annual vaccinations, but many require annual vaccinations as part of the policy terms and conditions. An issue for dog owners is that some dogs will not be covered or have higher excess payments due to their breed; any dog considered dangerous, may not be covered, and dogs such as border collies have certain illnesses which aren’t covered because the breed is considered prone to them.

The premiums for pet insurance averages toward the lower end. The best time to get a policy is when the pet is young and healthy, because then the premiums will be more likely to stay low while the pet grows older. Many companies will not offer a new insurance policy for a pet at all above the age of eight years old. Pet care costs are rising for veterinary treatments, and most vets recommend purchasing pet insurance from the beginning of any new pet ownership.

Shopping around for pet insurance is no exception to the general rule of price checking any insurance quote. Many companies cover different issues. All the small print needs to be read because each animal has their own terms and conditions and if something is not covered under the plan, the owner may not be aware of this until it is too late. Does the plan have an excess and is each claim paid for? What is the time limit to make a claim? Are there limits to the total amount of claim that can be made in one year or the number of individual claims? Does the plan include dental coverage?