posted by admin on May 5
Not as many people as I thought have any idea that you can insure your pet dog, cat or rabbit - as well as almost anything else we have as pets, including horses, lizards, parrots and gerbils!
I recently overheard a conversation where a girl relayed that after her dog got run over outside her house, the vet asked her if she had insurance and she had all but laughed in their face - it was only when the bills started coming in (totalling more than $700 and still rising) that she stopped laughing.
Is it Worth It?
Many others who have heard of it think it is a gimmick or a waste of money - ‘why pay someone else a set amount every month when I can just put some aside myself?’ Well, in the UK if your dog causes a road traffic accident, the owner is liable for up to $2m for each human injured as a result, not including costs for the damaged car or cars involved. Think you have enough savings for that???
All insurance policies create the same reaction - ‘do I really need it?’ - ‘nothing went wrong with our last pet/holiday/car…’. Can you afford that risk? Policies for cats and dogs range from around $9 up to $60 depending on a whole range of factors - but beware - they don’t all cover the same things!
Search For the Best Deal for You.
So because all policies are different, don’t just grab the first one you see, or the cheapest for that matter - read up on the following details and see which areas are worth more to you, then focus on the best policy for your pets AND your pocket. What factors are relevant to you?
Existing Illness or Injury - If you pet has an existing injury or known illness that has recieved or is currently receiving treatment for, this may not be covered on all new policies.
New illness or injury - Check if the policy premiums go up after each new claim.
New Policy Time Window - Find out if your pet is covered immediately for cover, or if it has to wait for a period of time before cover begins (to make sure you don’t take out the policy when your pet is already ill).
Multiple Pets - Do you need to insure more than 1 pet in your household, as some policies will offer a decent % saving.
Excess Amount - Check that the amount of each claim you have to pay is not too high, otherwise you will never owe your vet enough money to bother making a claim - check your vets costs for the common illness and treatments, like loose stools - cut to the foot - ear infection, and compare the excess amount.
Payment Type - Some policies will pay everything through your vet with you just paying the excess amount to begin. Other policies make you pay for all of the treatment first - then send you a check after.
Other Benefits - Many policies will offer discounts for pets that are micro-chipped or spayed/neutered - also with indoor cats and other restricted animals. However, some policies will charge more for certain breeds of dog, for example, where those breeds are susceptible to hereditary conditions - so if your pet is (for example a bulldog is prone to skin complaints, a German shepherd to digestive upsets, a Labrador to elbow dysplasia, etc) check policies out for this specific detail. Some companies also offer discounts for people who work in certain professions which is worth looking in to.
Third Party - if your dog is likely to come into contact with people, vehicles or other animals, it may be worth getting (or at least investigating) third party cover incase of an incident. Sometimes this is included on you household policy so make sure you don’t pay twice.
Other things to look out for in a policy include the following:
- Alternative Medicines and Holistic Treatments Cover
- Accidental Death of Your Pet (specifically for pure-breed dogs and cats)
- Advertising and Rewards for Lost Pets
- Cattery or Kennel Fees (if you are hospitalised)
- Special Diets (in the case of long term medical conditions; diabetes, kidney failure, etc)
- Pet Holiday Protection (at home and abroad)
It really is worth having with vet bills on the increase. Even if you only make one or two claims ever - it would still have been worth it. Imagine you were that girl at the start who had to make a choice to treat her dog for as long as it took as whatever the cost, or to have her pet euthanized or a leg amputated to save money.
Is that decision really worth the price of a meal out?
