Pet insurance guide

Pet insurance guide

Our pets can become our best friends if not a part of the family, yet leaving them uninsured could prove to be a costly mistake and a massive drain on the family's finances.

Finding a cheap pet insurance policy can be quite easy, however finding a policy that is right for you and your pet can be a little more difficult. Our pet insurance guide will not only give you hints and tips to find a cheaper policy, but also help you understand your policy and what it means for you and your pet.

What can be included on a pet insurance policy

Whether you own a dog, cat, horse or rabbit, there is a pet insurance policy for them all. In the eventuality that your pet was to become injured or contact a disease which forced them to need treatment then a comprehensive pet insurance policy will allow you to get your pet treated without a significant loss to yourself.

Some polices will even allow you to be compensated for having to cancel your holiday and will even pay towards advertising costs and a reward if your pet was to go missing.

It is important you read each policy carefully as the coverage offered can vary considerably. Here are a few categories that are covered by most.

• Vet Fees
• Death Benefit
• Holiday Cancellation
• Boarding Fees
• Theft/Straying
• Advertising/Reward
• Third Party Liability
• Accidental Damage

When conducting your own pet insurance comparison it is worth checking that each of these is included and any limits that may be associated with each category.

Pet insurance exclusions

Apart from everything that is included in a policy, it is also important to be aware of everything that is not included in a policy. When searching for pet insurance quotes keep in mind that there will be a number of factors that will not be included and will result in you having to fund these yourself. Common exclusions that are usually not included in a policy are:

• Flea control
• Vaccinations
• Spaying and castration
• Pre-existing illnesses or injuries

The age of your pet can also exclude you from purchasing a pet insurance policy. When it comes to puppy insurance and kitten insurance, some insurers will not insure a newborn until they are at least eight weeks old. Illnesses that occur as a result of pregnancy or giving birth will not be covered and nor will hereditary conditions.

Also it is worth checking if your pet is insured for travelling outside the UK as additional cover may have to be purchased. For dog owners, there are also some types of dogs that cannot be insured, for example most dog insurance companies will not insure guard dogs, racing dogs, working dogs or dogs that have been registered under the Dangerous Dogs Act.

Pet insurance explained

Your nearly ready to compare pet insurance polices. It can be quite confusing when trying to understand all the jargon that is sometimes used in the terms and conditions of a policy so here are some examples of terms that are regularly used and their meaning.

Lifetime Cover - Having lifetime cover on your pet insurance plan can increase its annual premium however the savings in the long run far outweigh the initial expense. If your pet was to contract a disease like asthma or diabetes which required ongoing treatment then with lifetime cover the insurer will continue to pay for the treatment for the lifetime of the pet. The only drawback to this is that you will need to stay with the same insurer.

Dental Cover - A broken tooth, root canal filling, gum disease, these are all conditions that your pet will need to have treated. Surprisingly dental cover is not included on most polices and will need to be added at an additional cost. Without dental cover any treatment costs would have to come out of your own pocket.

Excess Payment - As with a number of insurance products, there will be an excess payment to be made when making a claim. This payment is determined at the start of a pet insurance plan and is the payment you will make towards the cost of any treatment needed. Be careful to check the small print of any policy as some companies can double the excess payment depending on the size of the claim.

Payment Options - As explained below, to help find the cheapest pet insurance policy it always best to pay annually in one lump sum. If this is not an option then you can pay monthly although you will be subject to interest on top of the premium. When paying monthly it is important to understand whether your monthly payments will be 'calendar' or 'lunar' payments' Calendar payments require 12 equal monthly payments whilst lunar payments are to be paid every 28 days requiring 13 payments over the course of a year.

Additional Perks - Some specialist pet health insurance provider can offer additional services. For example a horse insurance company could offer insurance for your horse's equipment or trailer. Insurance also can be obtained for your pets housing, rabbit insurance will protect the hutch that it lives in from theft and damage. Check the terms and conditions of a policy before committing to buy to see if there are any additional perks included within the policy or if they will cost you more.

Tips for a cheaper pet insurance policy

With rising veterinary costs, making sure your pet gets the best care and attention can be very expensive but with a comprehensive pet insurance policy at your side this financial burden can be taken care of.

The price of a policy is based on a number of factors such as your pet's age, sex, breed and medical history. An older pet is likely to cost more than a younger pet the same as a pedigree will cost more than a cross breed. The amount of money you paid for your pet may also come into the equation.

Keeping your pet fit and healthy should be your number one priority. Regular exercise and the right food will keep your pet in great shape. This will help fight off any potential illnesses. You can also get your pet chipped. This requires a small microchip to be implanted underneath the skin which stores information about your pet and yourself. This can help the authorities contact you should your pet be found. Most dog and cat insurance polices will ask if you have had your pet chipped.

Taking every step to ensure that you do not have to make a claim on a policy will help keep your premiums down. The more claims you make the more expensive the price of next year's pet insurance quote is likely to be.