Pet Insurance from Argos

February 18th, 2009

Should you insure your pets?

January 26th, 2009

                                                       A third of Pet owners without Insurance!

Statistics have shown that only a third of the UK’s dog and cat owners actually insure their pets yet research from one of the countries leading pet insurers, Petplan, has revealed that you are far more likely to make a claim on a pet insurance policy than you are on your car or home insurance. Add that to the fact that the average claim under a dog insurance policy is over £700 and over £500 on a cat policy and you quickly realise that pet insurance is no longer a luxury but more of a necessity.

How much will it cost?

As with all insurance, the premiums can vary significantly between insurers so it’s important to shop around and compare prices and cover. There are certain factors that will affect the premiums and not unlike personal health or life plans, age and prior medical history will have the biggest influence on what you pay. Other things to bear in mind when looking for cover are:

Policy Excess

There will almost certainly be a policy excess which is the amount that you will pay in the event of a claim. Typically £40 or £50 but check the small print as some insurers may increase the excess if the claim exceeds a certain figure.

Vets Fees

It’s important to really check this one out as unsurprisingly this is the most common area for claims. Check the overall policy limit but also the amount the insurer will pay for each claim. You may have a annual limit of £3000 but the maximum you can claim for any one condition maybe lower. There will be exclusions so check the small print.

Dental Cover

According to Sainsbury’s bank, treatment for dental and associated problems cost British pet owners over £28m a year, but many pet policies dont even provide dental cover. Of the ones that do, they quite often only cover accidents and not routine dental care. Ideally look for a policy that will provide both.

Lifetime cover

If your pet is diagnosed with a long term illness such as diabetes or asthma it may require ongoing treatment. Some insurers will only pay up to the end of your current policy at which point you would find it extremely difficult to arrange cover elsewhere as you would be required to disclose an existing medical condition. Other insurers, however will provide ‘lifetime cover’ but this option would obviously cost more in premiums.

Check the small print and remember the cheapest isn’t always the best.