Pet Insurance Is It A Waste Of Money

Pet Insurance Is It A Waste Of Money



Pet Insurance is​ it​ a​ waste of​ money?
According to​ a​ report published by research group Mintel,​ one in​ three pets needs an​ unforeseen visit to​ the​ vet each year .​

This implies youre more likely to​ make a​ claim on​ your pet insurance than on​ your car insurance or​ even your home & contents policy .​


The word unforeseen is​ key here .​

if ​ youre looking for pet insurance to​ provide cover for routine treatments such as​ teeth cleaning,​ vaccinations or​ nail trimming,​ forget it​ policies which provide that are as​ rare as​ hens teeth! Neither will you​ find cover for elective treatments,​ such as​ neutering and​ identity chipping .​

This means that the​ most common grounds for visit the​ vet are uninsurable .​


But its those unexpected visits that tend to​ be the​ highpriced ones! Developments in​ vet nary care mean that new and​ more complex conditions can be effectively treated .​

But the​ cost of​ emergency care can be horrendous .​

a​ cat that failed to​ cross the​ road could easily cost £700,​ even more,​ to​ treat .​

After all,​ a​ series of​ Xrays could cost £400 complete with anaesthetic,​ and​ youll have no change from £1,​000 for a​ MRI scan .​

if ​ Lassie the​ Labrador tore a​ ligament that can now be treated but the​ cost? Wait for it​ around £1,​500! This is​ serious money!
Having appreciated that most reasons for an​ appointment at​ ​ the​ vet are uninsurable,​ what do we get for our premiums?
Pet insurance policies basically fall into three categories .​

The first limits the​ value of​ the​ claim for each condition or​ event; the​ second places a​ maximum value on​ the​ total annual payout and​ the​ third and​ cheapest option,​ limits the​ payout per condition and​ ends cover after 12 months of​ treatment .​

And with all policies you​ will have to​ pay an​ excess on​ any claim,​ usually between £50 and​ £100 .​

The majority of​ these plans payout a​ fixed sum if​ ​ you​ pet dies .​


And the​ cost? Well,​ that depends on​ which type of​ policy you​ select,​ the​ excess you​ want to​ pay,​ the​ kind of​ pet you​ have,​ its breed,​ its age and​ even your postcode apparently vets are more expensive in​ Kensington! .​

But as​ a​ guide,​ an​ industry expert estimates costs between £50 to​ £500 for Lassie and​ £30 and​ £200 per year for puss .​


The best advice is​ take out a​ policy when your pet is​ young .​

Most pets can be insured after theyre 8 weeks old and​ then you​ keep the​ insurance in​ place for the​ rest of​ its life .​

if ​ youre looking for a​ policy for a​ pet thats in​ its middle age,​ say eight or​ nine for a​ dog,​ then it​ may be difficult to​ get worthwhile cover .​

Thats because starting a​ new policy in​ your pets middle age will be expensive and​ in​ any case youll be unable to​ claim for treatments for any existing health conditions .​


So how can you​ reduce the​ premiums? Sometime you​ can get a​ discount if​ ​ you​ pet has been identity chipped and​ quantity discounts are usually available for second and​ subsequent pets .​

Beyond that you​ simply have to​ shop around .​

Thank goodness for the​ Internet!
The Internet is​ taking an​ increasing share of​ the​ insurance market and​ no wonder it​ makes shopping simple,​ quick and​ easy .​

Whats more its probably the​ cheapest starting place for all your insurance whether it​ be for your car,​ home,​ or​ pet .​

Let your keyboard take the​ strain.




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