Brignall Archer

The UK is renowned for being a nation of pet lovers.  In 2009, it had the second highest statistic for pet insurance across the globe.  The first pet insurance policy sold in the country was in 1945.

With more sophisticated, advanced, and therefore expensive medical care available for animals, the cost of veterinary care has increased substantially in recent years.  Added to the fact that today’s Western societies expect people to take good care of their pets, pet owners are spending more than ever on veterinary treatment.  Consequently, a growing number of pet owners are taking out pet insurance to guard against such costs.

Most pet insurance policies cover only cats and dogs, but an increasing number are covering smaller domestic pets such as rabbits, hamsters and guinea pigs, plus exotic pets, like lizards and snakes. Some of those pets might need very specialised and therefore much more pricey care.  Horses can also be insured as pets, but other large animals, such as cows and sheep, tend to be insured under a livestock or agricultural insurance policy.

Although the main reason that pet insurance is taken out is to cover any costs related to a pet’s health, pet insurance does not work like human health insurance – in fact, it is more comparable to property insurance.

The age, weight and general health of an animal is taken into consideration when a premium is calculated.  The premium is also affected by the excess payable and by whatever else is covered by the policy, from third party liability to a lump sum payment on the death, loss or theft of the animal.

Airline companies have made room for those who wish to travel with their pets. With the correct paperwork and container, there is no reason for the family pet to stay behind. For those who travel with their pets, looking into pet travel insurance can be a worthwhile investment.

Travelling with a pet does come with some risks. There is always the potential for them to become ill, get lost or stolen, or injure themselves and suddenly require emergency veterinary treatment. It is also possible for pets to cause accidents, which could make you liable.

For these reasons, it is good practice to check out the various types of pet insurance. While most pet insurance policies cover the same elements, different companies do offer different levels of cover. You can generally expect to be covered for things such as quarantine fees, emergency medical costs, third-party liability, recovery costs and repatriation. Most insurance companies will also provide cancellation protection.

When travelling, it is important that your pet is properly vaccinated and undergoes a complete health check. They should be adequately treated for all ticks and parasites, micro-chipped in case they become lost or stolen, and have their blood tested.

Even if your travel is within the UK, having pet insurance is still a good idea. Additional certification and paperwork will help you to meet the government requirements. Pets can easily become lost in unfamiliar territory. It is important to make sure you and your pets are covered by insurance and a PETS certificate.

One of the questions that pet insurance companies are often asked is about policies for exotic pets. There are a number of companies that deal with these policies, and for the owner of an exotic pet it is very wise to explore the options for insurance.

One of the problems for owners of exotic pets is that they are more likely to suffer health issues than, for example, cats and dogs. To reduce the costs of veterinary bills, which can prove to be extremely expensive, pet insurance should be a major consideration. It may prove to be more expensive than insurance for more usual domestic animals, but it will bring peace of mind knowing that the pet will be well cared for if necessary.

It is important when exploring this issue to find out what creatures pet insurers consider to be exotic pets. Usually these are animals that are not native to the UK and may include turtles, geckos, snakes, tortoises, chameleons, lizards and amphibians, such as salamanders and various types of tropical frogs.

Checking the type of cover and how many claims can be made is particularly important when researching and deciding on insurance for exotic pets. Another aspect of insurance to be considered is theft. Some exotic pets are very valuable and cost significant amounts of money to purchase, so the option to add theft onto a policy for exotic pets can help to mitigate the financial cost to the owner in the unfortunate event that a pet should be stolen.

Regardless of how much you pay for your pet insurance, there are some standard features to look for:

•    Help with vet’s bills including emergency treatment.
•    The cost of any medical tests and X-rays.
•    The cost of advertising if your pet goes missing.  You may be able to claim compensation if a rare or pedigree animal is lost or stolen.
•    Cattery or kennel fees if you are hospitalised and cannot care for your pet.
•    Third party liability – this covers you in the case someone else making a claim against you for damage your pet has caused.  It is usually offered only for dogs, but some policies do include other animals.

There is often an excess to pay – an amount that you agree to contribute towards any claim that you make.  By agreeing to pay a higher excess you can reduce your monthly premium, but always read the small print to ensure that you know what is covered.

What isn’t covered

You cannot claim on the following:

•    Routine check-ups, vaccinations, flea treatments or teeth cleaning for your pet.
•    Bills of a total under the excess amount.  If your total claim is worth less than the excess you agreed to pay, then you will not be entitled to a payout.
•    Existing health conditions that you already knew your pet had when you took out the policy.

Unless you have a lifelong policy you may not be covered for the cost of long-term treatments.  For example if your pet has diabetes or arthritis, an annual policy will only cover costs for the first 12 months after the condition is diagnosed.

If you are thinking about getting pet insurance for the first time the following tips may prove useful.

It will be in your best interest to insure your pet when it is young.  Most policies offer cover for your pet’s entire life, so it makes sense to insure your pet early.  Be aware that some policies have a maximum age restriction

Keep your pet’s vaccinations up to date.  Although insurers consider vaccinations as optional and therefore don’t cover the cost, you may find your insurance policy will not cover treatment for an illness that could have been prevented by vaccination.

If you have more than one pet, look into multiple pet insurance cover.  Joint cover could save you money.  Some companies offer discounts for additional pets.

Read the policy details carefully and make sure you understand them.  Pet insurance policies have caps on the extent of cover, and may limit how many claims you can make each year.  When researching options check that the cover offered will meet your pet’s needs.  Look at the policy excess requirement as these vary greatly.  In general if the premium is low, the excess is likely to be high.  Weigh up these costs and choose a policy that is cost effective and covers your needs.

When comparing pet insurance policy options, be careful to take into account additional benefits and available discounts on offer.  Just comparing premiums and excess amounts will not always give you a clear picture of the overall cost of the policy.

Many factors affect the cost of pet insurance.  These include the type of animal, the breed, age and your location.  Some breeds of animal are classed as being higher risk than others.  For example, pedigree animals are more likely to be stolen than a non-pedigree breed. 

Older pets are also more likely to be deemed as higher risk due to age-related veterinary expenses, and this will in turn make your pet insurance policy more expensive.  It is always worth checking whether your insurance premiums will increase with the age of your pet.  Some policies include lower age limits for certain breeds of pet and some have designated ages when the insurance excesses increase.

Other factors to consider when buying pet insurance are whether general veterinary procedures such as worming, neutering, dental treatment, pregnancy and behavioural issues are covered by the policy.  It is also important to decide whether you need travel insurance for your pet and whether the policy includes any third party cover for damage caused to property by your pet.  Some insurers offer this cover automatically for dog owners, whereas other providers view it as an optional extra.

There are ways to reduce the cost of pet insurance.  For example, if you live near a busy road or motorway, then ensuring your garden is as secure as possible will reduce the risk of accidents.  As with life insurance for people, keeping your pet in the best possible health will also guard against expensive cover. 

Every year, one out of three pets requires veterinary treatment.  Choosing the right pet insurance policy depends on your finances as well as your pet’s needs.  To be able to make this decision, you must be aware of the different types of policies available.

The Life Long Policy is expensive, but covers both long-term and short-term treatments.  It must be renewed annually, and any conditions that crop up since the policy was taken will be covered.  The premium depends on the age of the pet, not the amount claimed.  The policy excess increases as the pet ages.

The Individual Condition Policy, also renewed annually, is less expensive and covers short-term and medium-term illnesses.  However, this policy is not beneficial to those with pets that require expensive long-term treatments.  In this policy, a maximum amount is paid out per condition with no time limit for it to be claimed.  With this policy, the premium depends on the age of the pet, and the excess increases as the pet ages.

The Annual Cover Policy covers a condition from its onset for twelve months.   A condition claimed for in one year cannot be claimed again in the following 12 months.  The premium of this policy depends on the pet’s age, and the excess increases with age.  This policy must also be renewed annually.  The policy works out to be less expensive for cover against short-term illnesses and accidents.  However, the cover does not fall upon long-term treatments.

You can choose from the above three policies and make a decision based on affordability and your pet’s needs.

Pet insurance usually covers a wide range of options that vary due to the cost of surgery, routine checks and, at times, even dental care.  A good policy might even cover the cost of chemotherapy and transplants.  Hence, it is advised not to sign up with the first insurance company that you come across before reading the fine print.  Mentioned below are some important issues that you need to research prior to choosing an insurance policy.

•    First, search the internet to identify insurance providers that meet your requirements and list the most important features of each provider. 

•    Find out how long the provider has been in business.

•    Check whether there are firms that offer lower premiums and note the extent of their coverage.  Study exactly what is covered and what is not. 

•    Ensure that the insurance covers routine check-ups and does not have an age limitation.

•    Check whether the insurance has any restrictive terms, such as restrictions on pre-existing physical conditions.

•    Make sure you check for exclusions, such as routine check-ups that include dental care and worm tests. 

•    Find out if the insurance will cover CAT scans, reconstructive surgery and medication.  These can turn out to be quite expensive if they are not included. 

•    Find out whether the policy covers veterinary fees arising from pregnancy in a pet. 

•    Also ensure whether third party cover is automatically included.

Having the above comprehensive information is very useful because it enables you to obtain the best insurance possible for your pet.

If you have had pet insurance for several years and your pet is now older then it may be hard to keep the cost down.  Shopping around might find you a better price than the policy that you have at the moment.  If you are going to shop around then you need to keep in mind that some insurers will not consider animals over a certain age.  This age limit will vary depending upon the type of animal.

If your pet is still quite young then there are lots of additional ways that you can keep the cost of your pet insurance low.  One of these is to ensure that the animal is insured as young as possible.  Insurers that have had a pet on their system since they were very young may be more inclined to keep rates low, particularly if there have been very few claims.

Claims cannot be entirely avoided, but pets that are well looked after and stay healthy will attract good insurance rates.  Some insurers will only cover a condition on one occasion and recurring conditions will not be covered.  Ensure your pet has all the correct vaccinations at the right time to make sure that your pet has a good chance of maintaining good health. 

If you have more than one pet then you can get discounts for insuring them at the same time with the same insurer.  Some discounts will be per animal per year, whilst others may be applied to a joint policy.

It is a decision that many pet owners have to make; should they buy pet insurance?  Over the life of a pet the cost of insurance cover can be in the thousands, depending on how long your pet lives and what type of animal it is.  Cats and dogs can live for decades and just like their owners, they might require more care as they age.  However, pets frequently become part of the family and owners will do and pay anything to keep them in the best of health, just as you would for a child or other valued family member.  Veterinary science continues to improve; just as medical science does, which is great news for non-human members of the family.  However, it is becoming ever more expensive and taking out insurance cover might be better than having to bear the costs yourself, especially in this age of austerity.

Procedures and treatments, which were once strictly reserved for humans, like kidney transplants, radiotherapy, chemotherapy and advanced surgery, are now available for our pets.  They can prolong their lives and alleviate suffering, but can cost thousands.  It is not only the procedures that have become more advanced, more diagnostic tools, like MRI’s are at your vet’s disposal.  All this can add up to expensive bills and the trend does not show any sign of reversing.  It all boils down to how much you value your pet and insurance can often be a literal lifesaver, especially in the face of new and more expensive treatments.