Pet Insurance - Do You Really Need It?
The vast majority of vets and animal welfare organisations, such as the RSPCA, believe that taking out pet insurance is part of being a responsible pet owner. Today, there are an ever-increasing number of insurance companies offering pet insurance and it is now possible to insure most pets from dogs to cats, rabbits to tortoises and birds to horses. However what exactly is covered by pet insurance and do you really need all those extras?
According to research, in the UK only 20% of dogs and just 12.5% of cats are insured. However, every year, nearly half of the dog and cat population in the UK will require veterinary treatment for an illness or accident. The majority of pet insurance claims are for vet fees.
There has been a tremendous growth in recent years in pet insurance and many companies have jumped on the bandwagon to provide cheap pet insurance. However, it is vital to do your research and read the small print as, very often, cheaper policies may stop paying out for a condition after a period of time, usually a year, and will not insure pets over a certain age.
In addition, there are many aspects to a policy that you may not necessarily need. Other policy features might be advertising and rewards for lost pets, theft, emergency boarding fees, vet helpline, pet travel insurance, legal costs and liability insurance, just in case your dog bites the postman! However, does your normal house insurance cover you for legal costs?
As a general rule, the more cover you buy, the more expensive the pet insurance premiums. However, there are so many different variants in policies that it can be difficult to compare them. Therefore, you really need to consider how much you can afford should you need to pay for the treatment yourself and whether you need all the features. There will usually be an excess to pay so try to keep this as low as possible.
Pet insurance premiums will increase with the age of your pet. Consequently, you need to make sure that the pet insurance provider you pick does not stop insuring them as they get older when, potentially, you are more likely to make a claim. That just does not seem fair!
There is also no cover available for routine vaccinations, worming and operations, such as spaying, (unless for medical reasons). Other things that might not be covered are complications from breeding and accidents when travelling to exhibit your pet at a show.
According to research, 97% of pet insurance policies in the UK are taken out for dogs or cats. The other 3% is represented by small animal, equine and exotic pet insurance. Whilst it may be relatively easy to find a pet insurer for your rabbit, it might be a little harder to find one for your bearded dragon! This is a specialised field but as exotic pets can be expensive to buy, then cover against theft and specialised veterinary treatment are well worth looking at. However, they probably won't cover your exotic pet if it escapes! Again, shop around for the best deal you can.
It is important to remember that your pet is part of your family. If it becomes ill, this alone can be distressing and, if you then need to find the money for vet bills on top, for peace of mind, pet insurance is well worth considering. However, remember to compare policy features, look at the small print and make sure you only buy what you think you may need.
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