Pet Insurance
By David Gabbitas
Britain is a nation of animal lovers. Half of UK households own a pet and in 2005 half of these made an unexpected visit to the Vet (source: Mintel). Even minor conditions can cost several hundred pounds, whilst long term illnesses are likely to incur thousands of pounds in vets bills. With vets fees rising between 11 and 15%25 in recent years, it's clear that animal health is an expensive business. Use TheRateTart to compare pet insurance discounts and policies to find the ideal insurance cover for your feather, furred or scaled friend.
There are a number of factors which determine the price you pay for pet insurance;
Average vets fees vary by region in the UK. Consequently your address will have an impact on the premium you pay. As with most things London and the South East are the most expensive.
Very old and very young animals are more vulnerable to illness or injury. Most pet insurance will not cover animals under 8 weeks old, whilst many (but not all) impose an upper age limit, varying by species.
Bigger animals carry bigger costs for pet insurance. Horses cost more than dogs, which cost more than cats, which cost more than rabbits and guinea pigs. The exception to this is exotic pets such as snakes or spiders. Most mainstream pet insurance policies will not cover these. However there are a number of specialist providers who provide insurance for exotic pets.
Good breeding doesn't always bring advantages. In general pedigree breeds are more susceptible to illness and more expensive to treat. Expect this to be reflected in the insurance premium.
Limited Term policies have been a significant factor in driving down the cost of pet insurance. These commit to pay vets bills for a set period of time after injury or the onset of illness. Some policies also have an upper limit on the amount that can be paid out. These policies are ideal for covering the cost of treating a short term problem. But if your pet requires long term treatment then a Lifetime policy is more suitable. These are more expensive, but guarantee to pay costs for as long treatment is needed.
Obviously there is no way to tell for certain what conditions your pet is going to develop. However some species and breeds are more susceptible to long term illness than others. Compare the different pet insurance policies on offer, then invest in a little research with your vet to get a basis for making an informed assessment of the risks.
You also need to consider what type of animal you are looking to cover. For example, dog insurance is offered by almost all major providers. But if you are looking for exotic pet insurance the number of options is more limited.
The following costs are covered by the majority of pet insurance policies;
* Veterinary fees
* Death benefit
* Theft/straying
* Cost of advertising a lost pet and reward for return
* Holiday cancellation
* Emergency kennel costs
* Third party liability (if your pet injures another person)
* Accidental damage to property
In addition, some policies also cover
* Alternative or holistic therapies (e.g. acupuncture or aromatherapy)
* Travel allowance for transport to vet
* Pet psychologists / owner counselling
Pet insurance policies generally do not cover;
* Costs of treating pre-existing conditions
* Vaccinations
* Spaying / castration
* Flea control
Always compare pet insurance Terms and Conditions carefully so that you understand exactly what is included in your policy.
TheRateTart.com provides comparison tables containing the best offers on the market. We provide a host of information to enable you to compare home insurance discounts from the leading UK insurers, plus a number of niche providers. In addition you can read our detailed pet insurance guide to learn how to reduce your pet insurance quote.
Last but not least, to ensure you don't get caught out at renewal time, remember to use the free reminder service at TheRateTart.com. You can set up an email alert to remind you shortly before the renewal date so that you have time to compare pet insurance quotes and get another great deal.
David is well known author who writes on online trading, insurance, broadband and much more. Theratetart is providing comparision service at one center. For more information visit Theratetart.com.