Best insurance for your pets!
Pet Insurance is as necessary as insurance for yourself, your child, home and cars or be prepared for huge bills from your vet for your pet’s treatment. If you think, you do not require insurance for your pet, then think again. How will you feel when your pet falls ill in the middle of the night and you have to rush to the vet? Your vet might save your pet with timely intervention but what about the vet fees that you have to pay? With charges of almost everything increasing, vet fees are increasing too. A surgery for a dog that has accidentally eaten something can be somewhere around £1,500 while having a broken leg of your cat fixed can have you poorer by £825. Pet insurance also covers weird requirements like putting up advertisements for your stolen dog, or charges of your holiday if you are unable to make it because of your pet’s illness.
Though one rarely makes claims on such eventualities, yet expensive policies are sold on such accounts.
Another useful tip of cutting cost for pet insurance is considering self insurance. Every month you can put a certain amount aside for your four-legged animal which can be safely used in times of emergency. Instead of purchasing an actual policy, all you need to do is safe deposit your amount for future use. However, the risks involved include running into an emergency before you have piled up enough cash and protecting against public liability. So consider these points before you make the decision to go without an expensive insurance cover. However, we are mostly talking about regular cats and dogs which can be maintained even without going in for insurance cover. But exotic pets like koi carp or a tarantula, are difficult to maintain without insurance. You can consider third party insurance for such cases.
Now, if you have decided you need a policy and that is the best and the wisest thing to do, then decide the kind of policy that best suits your pet. Premiums depend upon the breed, age, pedigree and location. Vet charges are more in the South East and London. The best way for buying a policy is reading the fine print which most people miss out on. Be honest with your insurance company and reveal your pet’s medical history which might prove expensive in the short term but in the long term you would not face any problem while making claims. Ensure that your provider covers pre-existing medical conditions so that you do not have to pay huge vet bills for pre-existing illness. Various policies have yearly limits while some have limits set for specific condition. It is better to opt for yearly limits provided the limit does not increase each year. Some providers want to sell lifetime cover but don’t opt for such policies as the premium will bound to increase once your pet gets older. Changing the excess level helps you reduce costs.
Some pedigree breeds develop hereditary conditions and there are policies which do not include treatment for such conditions. So check with your provider if your insurer provides for such options. Some policies even cover the cost of cremation and also dental treatment. Now you can visit comparison websites and shop for the best suitable policy for your pets.
By Nancy Dodds of Financemate.co.uk
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