Pet Insurance - Is it a Waste of Money

According to a report published by research group Mintels, one in three pets needs an unexpected visit to the vet every year. This means you are more likely to claim on your pet insurance than on your car insurance or even your home and contents policy.

The word "unforeseen" is key here. If you are looking for PET insurance to provide coverage for routine treatments such as teeth cleaning, vaccinations or nail trimming, forget it - policies that ensure that is as rare as hens' teeth! Neither will you find cover for elective treatments, such as neutering and identity chipping. This means that the most common reasons to visit the veterinarian is insurable.

But it is the unexpected visits that tend to be expensive on them! Developments in vet nary care means that new and more complex issues can be effectively treated. But the cost of emergency care can be horrendous. A cat which failed to cross the road could easily cost £ 700, even more, to treat. After all, a series of X-rays could cost £ 400 complete with stunning, and you have no change from £ 1,000 for an MRI. If Lassie the Labrador tore a ligament, which can now be treated - although it cost? Wait for it - around £ 1500! It is big money!

Appreciated that most reasons for an appointment with the veterinarian is insured, do what we have on our premiums?

Pet insurance policies basically fall into three categories. The first limits the value of the claim for each condition or event, the second provides a maximum value for the total annual payout rate and the third and cheapest option, limits payout per condition and ends cover after 12 months of treatment. And with all policies, you will have to pay an excess on any claim, usually between £ 50 and £ 100 Most of these plans payout a lump sum if you pet dies.

And the price? Yes, it depends on what type of policy you choose the excess you would pay the kind of pet you have, its breed, age and even your postal code (apparently vets are more expensive in Kensington!). But as a guide, an industry expert estimates cost between £ 50 to £ 500 for Lassie and £ 30 and £ 200 per year for the Babe.

The best advice is to take out a policy when your pet is young. Most pets can be insured when they are 8 weeks old, and then you keep the insurance in place for the rest of his life. If you're looking for a policy for a pet that is in the middle, say eight or nine for a dog, so it may be difficult to get worthwhile cover. This is due to start a new policy for your pet's middle age will be expensive and in all cases, you will be able to claim for treatment of an existing health conditions.

So how you can reduce premiums? Once you can get a discount if you pet has been identity chipped and quantity discounts are usually available for second and subsequent pets. Beyond that you simply have to look around. Thank goodness for the internet!

The Internet is for an increasing share of the insurance market and no wonder - it makes shopping simple, fast and easy. What's more, it is probably the cheapest place to begin for all your insurance whether it's for your car, home or pets. Let your keyboard to take the strain.