Pet Insurance -10 key questions
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Veterinary science has developed quickly over the last ten years and as pets get older they are increasingly likely to suffer illnesses that can be costly and lengthy to treat. For example, take diabetes. This is relatively common in dogs and whilst it can be successfully treated, the treatment will be ongoing and expensive - { motor insurance quote } one vet estimated that treatment cost around £2,500 per year. Eczema is yet another of many other conditions that require extended treatment.
But as with us, your pet could require emergency treatment at any time. According to Mintel, one in three pets make an unplanned visit to the vet every year. There are always scrapes that our pets get into. Your cat may have nine lives but they may well land you with nine vets' bills! Then there are hereditary health problems. { cheap life insurance } Labradors and Golden Retrievers are prone to progressive retinal atrophy, Boxers and Spaniels are susceptible to dodgy hearts, Alsations can get hip dysplasia and Setters, canine leucocyte adhesion deficiency. With an MRI scan putting you back £1,500 and a series of x-rays costing £400, the case for insurance cover becomes compelling.
In this setting, pet insurance has become the fastest growing form of insurance in the UK. E&L, Animal Friends, PDSA, Petwise, Petplan, Pet Protect, and Marks and Spencer are all names in the market. Indeed, competition for your business is intense with over 220 different policies offered by over 60 different insurers. With so much selection, the task of selecting a pet plan becomes complicated.
So keep things simple. Pet insurance falls into three basic categories. The first and usually the cheapest form, limits the claim per condition to 12 months - suitable for one-off emergencies but no good for diabetes! The second limits the total annual payout whilst the third limits the amount paid per condition.
Faced with this level of choice what features should you look for? Here are the 10 key questions to ask:
• What is the excess you have to, pay per claim? Sometimes it will be a fixed sum, sometimes a percentage of the treatment cost but more often, a combination of both.
• Are claims subject to a maximum annual cost or are they on a "per condition" basis?
• If the insurance is limited "per condition", there will inevitably be a time limit. What is it?
• Is there a limit on vets' fees? Yes? What is it?