Pet Insurance: Know What Different Policies Mean and Read Tips on How to Choose a Cheap Policy

Every time the pet owners have the same question: Do I really need to buy insurance for my pet. Consider this: Vet's fees in the recent times have risen so much; you may as well pay your mortgage. Fixing a cat's broken leg, for example, can cost £825. Surgery for a dog that has eaten something dangerous can cost £1, 500.
Let's not forget the impact all this will have on you and your family.(Kid's especially are attached to the pet and can't bear to see their dog limping!)

Its not just the injuries which are covered by pet insurance but nowadays all sorts of weird and wonderful eventualities are taken care by pet insurance. For e.g. if your cat is stolen, some providers will pay out the cost of advertising and a reward, or even cover the cost of your holiday if you can't go because your pet's ill. It is up to you to choose which type of covers suit your circumstances and then buy.

You may try this reasoning that there is no need to buy pet insurance and it's better to put some money aside for any kind of potential pet emergency However, there are two main dangers to consider here: first, you'll be stuck if an expensive problem arises before you've built much cash up, and second, your pet won't be covered for public liability, so if it runs into the road and causes an accident, and the drivers sue, you'll be liable for the cost .

While the focus of this article is cats and dogs, we also have riders who may be interested in buying insurance for their horses. Horse insurance policies are different than cats and dogs so check before buying. Being the owner of a horse you should be aware that in the sad case of a death of your horse, its disposal can be expensive. Also having a cover which pays towards the cost of repair or replacement of lost or damaged saddlery and tack can be a good thing. You may compare various horse insurances at website mentioned below.

In all cases make sure you check the excess to be paid by the policyholder (you).
Now let's talk about tips on how to choose pet insurance
It can be a daunting task to choose the right insurance policy given the number of companies out there, but if you do it in a step wise manner it should be a breeze.
1.Start by comparing the price.
2.Consider the policy excess
3.Are you getting lifelong cover?
4.Think about other benefits
5.Read the small print

COMPARE THE PRICE
Obviously, the cost of pet insurance is an important consideration. But different insurers have different ways of setting the price, so always get a quote for your specific circumstances to compare between insurers.

CONSIDER THE EXCESS
There are a number of ways some providers save themselves money when it comes to paying out claims. One of these is by including a high excess on their policies.

The excess is the amount that you have to pay each time you have to claim for a certain condition, so choosing a cheaper product with a higher excess could actually end up costing you money.

ARE YOU GETTING LIFELONG COVER
You should check carefully what you are being offered by pet insurers and understand clearly what they mean by "lifelong cover". Understanding lifelong cover can be complicated, but here are a few simple guidelines on the types of cover generally available...

Time capped cover
Some plans (often at the cheaper end of the spectrum) will only cover a condition for the first year you claim.
E.g :If your pet developed arthritis, you might be able to claim up to £2500 for the first year's treatment, but no more. You would then have to cover the cost of treatment every year yourself, for the rest of your pet's life.

Financially capped cover
Some insurers call their financially capped cover 'lifelong cover'. In this case, an insurer will pay out each year, but only up to a fixed total amount for each condition. After that, they will stop paying.
E.g :If your pet developed diabetes and you had a policy that was financially capped at £3, 000, you may need to claim £2, 000 in the first year. By year two, the amount you can claim for treatment of the diabetes is now just £1, 000. After this, you would have to pay for the treatment for the rest of your pet's life.

Lifelong cover
The best pet insurance is cover that pays for treatment up to a certain amount, every year, for as long as your pet needs treatment.
E.g :If your pet were to develop epilepsy and your policy covers up to £3, 000 every year, you could claim for treatment up to this limit each year for the rest of your pet's life.

Remember to compare these policies with your personal needs and circumstances.

ADDITIONAL COVER TYPES
Although veterinary fee cover is the key element of pet insurance, most insurers offer a range of additional benefits. These can include cover for:
" The cost of advertising and reward to recover your pet should it go missing;
" The cost of looking after your pet if you have to stay in hospital;
" The purchase price of your pet if it is lost or passes away;
" The cost of your pet causing damage for which you are legally liable.
" There are many more benefits available aside from these, so read through the full list of benefits to make sure the cover you have is right for you.
Have a go through these covers and think which is applicable to your circumstance or future.If are not the travelling types and have no intention of travelling outside the country with your pet there is hardly any point buying a pet travel cover , is it?

READ THE SMALL PRINT
It's annoying having to read the tiny details about a policy. But all insurance plans have terms and conditions to make clear what is covered and what is not.
Once you've decided which cover suits you, price comparison site petsinsurancecompare has a pet insurance comparison service detailing different cover levels for cats , dogs and horses. Unfortunately this only covers a limited number of providers but it's still a good start as it produces a cheap benchmark price.