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Pet Insurance

Is Pet Insurance Worth it Or Is it More Expensive than What You Get Back?

According to research, the average bill for pet insurance is around £28 per month for dogs or £13 per month for cats. But what do you actually get for your money and ultimately, is it worth it? Should you insure your pet, or should you risk it and simply pay for treatments in the event of an accident or emergency? At Quote Supermarket we firmly believe that each beloved pet needs insurance, just in case the unthinkable does happen. Having the safety net in place which we can provide will ease stress during those difficult times.

Do You Want Cover or Not?

The main role of this type of insurance is to cover the fees for the vet, which you need to pay if an injury or illness takes place. However, many insurance companies add other benefits as well, such as advertising if your pet is lost, kennel costs if you have to be hospitalized or even a return of the purchase price in case of the pet’s death.

We know that some 50% of all cats and dogs in the United Kingdom are not insured. What is more difficult to explain is why this is the case. People suggest that perhaps insurance is too expensive, or that when policies cost more than the cost of looking after the animal there is little point paying a monthly fee.

The Types of Policies

There are four types of policies available to people who do want to insure their pets:

  • 1. Lifetime cover, which covers all vet fees (up to a stated price level) and leaves this cover in place for the duration of the policy, regardless of how often you actually claim. This is the most expensive type of cover, but it is very beneficial if your pet were to develop a long term illness. This type of cover is generally recommended for those who have pedigree animals who are known to develop certain lifelong conditions.
  • 2. Maximum benefit cover, where you have a certain level of cover for specific conditions. Once you reach that limit, the condition becomes known as “pre-existing”, which means you cannot claim for it in future.
  • 3. Time limited cover, which covers you for periods of 12 months. This is quite a limited policy and if your animal develops a condition during that period of time, you will struggle to find new cover for the next year that also pays for that condition.
  • 4. Accident only cover, which covers vet fees that are incurred as a result of an accident (such as being hit by a car).

What Influences Policy Prices?

The coverage offered by the four options above will have a natural effect on the monthly instalments or annual fees. However, there are other factors which influence pet insurance prices. This can include where you live, as certain areas have more expensive veterinary practices or are known to be high risk areas for pet theft; the age of the pet, as older animals are more likely to have health issues and therefore claims on the insurance; the excess on the policy, with higher excesses meaning lower monthly payments; or the breed and pedigree of the animal, with some lines known to develop lifelong issues.

No matter whether you have a dog or cat or any other pet, call Quote Supermarket today to discuss your options – or use our simple online system to get a quote straight away.

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