Pet Insurance: Pet Insurance Cover for Your Dog, Cat And Rabbit
Like millions of people around the UK I have invested my time, love and money into buying a man's best friend. My dog is a Staffordshire bull terrier and although he has a silly face, I love him to pieces. If you are anything like me, your finances get you by month to month, but in the event of a unexpected large expenditure, like vet treatments for a sick dog, it can really be a strain on finances. Pet Insurance allows people like you and I to look after our beloved pets without worrying about paying for any accidents or infections your pets might pick up over the years.
Pet Insurance is like any other insurance on the market whereby you pay a monthly premium which covers certain expenses your pet might incur whilst you are paying that premium. Just like car insurance, different plans cover different treatments so not all pet insurance plans are born equal in that respect. It is important to understand exactly what you are covered for and what you are not which can be quite difficult if you have never bought pet insurance before.
The pet insurance policy for my dog Pacey is about to run out in about ten days' time so I think it's time to revisit the pet insurance world to see if I can find a more comprehensive cover for Pacey now that he is old enough to get himself into some serious situations. The aim of this article is to pass on the information I have gathered while researching into pet insurance plans, what they cover what I personally needed for my 4 year old Staffordshire bull terrier.
This for me is the most important part of any pet insurance plan as it is the pot of money that pays for most of the fees you will incur as a pet owner. You can be covered for millions everywhere else but if you don't have at least £3,000 worth of veterinary fees per year, the policy isn't even worth considering. The amount of veterinary fees your policy covers per year depends on how much you are willing to pay per month. A cheap policy will hopefully cover you for £3,000 worth of fees while a more expensive policy will cover you up to £12,000. If your pet tends to get into trouble or its breed has a history of illness, I would find a policy that covers you for at least £5,000 per year.
Complementary Treatment basically covers your pet for any aftercare required after your pet's accident or illness. What is aftercare you say, well it covers things like acupuncture, herbal medicine and any treatments involving chiropractors, hydrotherapy and osteopathy. Depending on your pets injury, this cover could prove to be very important as although it doesn't save your pets life, it will certainly improve its life in the event it needs these veterinary services. In terms of cover you should be looking at between £1-2k per year.
Third Party Liability
Third Party Liability is an insurance term used to describe a policy that covers medical expenses of other people harmed by your actions. With regard to third party liability within pet insurance, it covers any medical expenses caused by your pet to other pets and humans a like. This type of cover is particularly important for owners of more dangerous animals as they are more likely to cause harm than say a budgie. You should be looking for at least £1million cover for a cheap policy and more towards 4 million for a more expensive one.
Death from Illness/Injury
Death from Illness or Injury cover is the same as life insurance for people. In the event that your pet dies due to illness or injury you get paid a lump sum. Personally no amount of money could compensate for the loss of a pet but I guess it could help some people, especially if they are looking to replace the pet right away. This is often an optional extra to most policies but you can effectively buy life insurance for your pet to the sum of £1,000 for cheaper policies and £5,000 for more expensive ones.
Loss or Theft cover
In the same sense as the above, if you lose your pet or it was stolen, you are covered much in the same way as life insurance. This cover pays out much the same as death by injury/illness cover at between £1-5k depending on the policy.
These are the main aspects to any good pet insurance policy and should be the same whether you are buying one for your dog, or your budgie. You will find while researching pet insurance yourself, that there are a lot of smaller benefits such as money for advertising for a lost pet or holiday cancelation compensation, but at the end of the day the points mentioned above are the most important and most be given proper consideration when choosing the insurance for your pet. The cheapest insurance is not always the best when it really counts and when it comes to important things like your pets, surely they deserve the best chance of a long and happy life.
How to keep your pet insurance premium low?
The shortest way is to keep your pet healthy. To keep this follow the tips below:
- Feed your pet a nutritional diet - make sure it gets plenty of vitamins needed for healthy grow and well-being.
- Keep up to date with all vaccinations - this will reduce the premium as your pet will not be as likely to get some deadly diseases.
For a lower premium you may also try these tips:
- Higher excess - the higher the excess, the lower the premium. Excess is the amount you are willing to pay in case of a claim so make sure that the amount is affordable for your budget.
- Multi-pet cover - if you have more than 1 pet to insure, you may benefit from 5-10% discount if you insure them all in one policy.
- Opt for annual payments - it is usually cheaper to pay annualy than in monthly installments.