Pet insurance – to insure or not to insure?

By April 9, 2018 Uncategorized No Comments

We are a nation of pet lovers; as the saying goes ‘a dog is a man’s best friend’.
Your pet is a huge part of your life, part of the family and you will do anything to ensure their good health. This often includes taking out pet insurance, but is it really worthwhile? Will it cover you when needed or will it end up being an expensive waste of time?

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What is pet insurance?
Now ask yourself, if your pet was to fall ill or have an accident would you have the cash to be able to pay for their treatment?
For a lot of people the answer to this would be no; you don’t want to stop them receiving treatment but you may need to make the horrible decision to put your pet to sleep if you can’t afford the fees. There is no such thing as the NHS for pets, so therefore no option for free health care.
Pet insurance helps you cover the cost of veterinary treatment if your pet falls ill or gets injured. Some pet insurance providers also pay out if your pet dies, is lost or stolen or causes damage to a third party’s property.
People tend to insure cats or dogs and are less likely to insure a rabbit or hamster due to their short life span.

Is there another option?
Instead of an insurance policy you could put money into a savings account in case of vet fees. That way you can make interest on the investment, and if you don’t need the money during the lifetime of your pet, it’s yours to keep. Ask your vet about the cost of different treatments to work out how much you need to save.

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Affordable cover
Pet insurance can vary in price and you need to choose the right one for you, your pet’s needs and your bank balance. Cheaper policies may not provide as much cover but you have to make sure you can afford the monthly payments.
The easiest way to find the most affordable insurance is to compare insurance providers but this can often be tedious and time consuming. An easier way is to use a price comparison tool.
Ultimately, whether or not to get your pet insured is a personal choice.

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