Pet Insurance

Pet Insurance necessary?

Always think about how much your pets will cost you, the likely impact of vets' fees and how you'd react if they got ill (let's be clinical, this means will you pay medical fees or have them put down?) Vets' fees are rising, so be aware of the real potential costs. Fixing a cat's broken leg, for example, can cost £825. Surgery for a dog that has eaten something dangerous can cost £1,500.

Always tell the truth!

When applying for a policy be sure to disclose all your pet's medical history. This might push up premiums in the short term, but will save money in the long term, as providers won't pay up if they suspect that the problem already existed. Most providers exclude pre-existing conditions, so if your pet develops a condition, you're stuck with that policy, as other plans won't cover it – not without a huge rise in cost anyway.

Check pay-out limits

Some insurers limit the amount they pay out each year. Others have a limit for each condition. Policies with a yearly limit are a safer bet; they will pay out for the lifetime of furry friend's condition, provided it does not exceed the limit each year. With per-condition limits, if your pet develops an ongoing illness, such as diabetes, they could quickly stop paying for treatment. Also check whether there is a time limit on how long you can claim for one treatment (some policies only pay out for the first year of illness).

Excesses

If you are willing to fork out, changing the excess level (the amount you pay of any claim) cuts the cost. Though beware of policies where you must pay a share of any claim, usually about 10%, rather than a fixed limit e.g. £200. If your pet gets seriously ill this can be very costly.

To decide on your excess consider ‘how much would it cost before I claimed?' Getting a £50 excess if you wouldn't bother claiming for less than £200 is pointless.

Other considerations

You know your situation better than the insurer, so think about which of the following you are likely to claim on: cost of advertising and reward if your pet is lost or stolen; third party injury; cost of a holiday if you have to cancel to care for your pet; kennelling costs if you are hospitalised.