|
by: Michael Challiner
A survey published by Mintel recently revealed that 1 in
3 pets need an unplanned visit to the vet every year. So the
odds that you'll be making a claim on your pet insurance are
higher than the chances of you claiming on your home &
contents policy or your motor insurance.
The word “unplanned” is key here. We don't mean
routine treatments such as vaccinations or worming, you won't
find a pet insurance policy that covers preventative treatments.
Nor you will you able to get cover for ‘elective treatments',
like neutering for example. Basically, the common reasons
for visiting the vet cannot be insured against.
As I'm sure you're aware, it's the unplanned visits that are
the expensive ones! Animal care has progressed a lot in recent
years, and all kinds of maladies can be treated, at a horrendous
cost. Emergency care is always expensive, and if your cat
gets run over, you could be looking at a bill of £700
or more. A series of X-rays could cost £400, and you
don't want to know how much a MRI scan could set you back
– oh go on then - £1,000! If Dickens the Daschund
breaks a leg then it can be treated – but how much will
it cost? It could be close to £1,500 - that's a lot
of money!
Now we've established that most reasons for a visit to the
vet cannot be covered by insurance, so what is included?
Well, pet insurance plans come in 3 main guises:
The value of the claim for each condition or event is capped;
The total annual payout cannot exceed a set amount;
The payout per condition is limited and ceases to cover your
pet after twelve months of treatment. This is the cheapest
option.
Virtually all pet insurance policies will pay out if your
pet dies. As with other types of insurance, you will have
to pay an excess if you make a claim, usually £50 -£100.
The cost of the policy depends on which type of policy you
want, how much excess you are prepared to pay, the kind of
pet you have, its breed (rare breeds are more expensive),
its age and even your post-code can make a difference to the
premium (vets cost more in Chelsea). It's difficult to estimate
because of all the variables, but an industry estimate suggests
premiums from £30 - £200 per year for a cat and
£50 - £500 for a dog.
The cheapest insurance is directed at young pets, and seeing
as most pets can be insured from 8 weeks old and you can then
continue insurance for its lifespan, that's the best way to
go. If your pet is already 8 or 9 years old when you decide
to get it insured, it may be difficult to get worthwhile cover.
This is mainly because the exclusions will list existing health
conditions, and at that age, it is likely that your pet will
have some known conditions. In any case, at that age a new
policy will be more costly.
There are a few ways to lower the premiums - some insurers
will discount insurance if your pet has an identity chip,
and if you are insuring more than one pet, you will be able
to get a quantity discount. These are widely available for
your second and subsequent insured pets.
To get the cheapest premiums, browse the Internet for deals.
The Internet is a great place for cheap insurance of all kinds
- your home, your car or pet, your holiday – all just
a click away.
About The Author
Michael Challiner works as the editor of Brokers Online (
http://www.life-assurance-bureau.co.uk
) who offer critical illness insurance (http://www.life-assurance-bureau.co.uk/critical-illness-cover/
) and pet insurance ( http://www.life-assurance-bureau.co.uk/pet-insurance/
)
|
