Don’t buy a pet without insurance

Anyone tempted to buy a pet or who received one for Christmas should not forget that a key part of having a cat or dog is making sure it can be properly looked after when it is ill, says Defaqto in its most recent report, Pet Insurance in the UK 2007.

New owners need to look beyond the immediate pleasure of having a pet to what can happen to it over its life. Not only are the costs of treating pets rising, but just as with humans, new treatments are being introduced all the time to improve a pet’s quality of life when it is unwell.

Although there are over 120 policies examined in the report, they fall into two main types: those paying claims only for the first twelve months of an illness only and those that will pay for the whole time the pet needs treatment for that condition, but with a limit on the expenditure each year.

Brian Brown, Head of Insight at Defaqto and author of the report, said, “Pet insurance should be a priority for pet owners but it is vital to shop around and check that you know which policy type you are buying before committing to a purchase. As many conditions can run for longer than twelve months the policies paying out for twelve months only are aimed at customers who only want cover for emergency treatments, while those paying ‘per year’ are aimed at those who want full treatment for their pets. Naturally customers should expect twelve month policies to be cheaper than the ‘per year’ type policies.”

There are other limits which customers should look out for too, says Defaqto. Things to watch out for include:

Limits on the maximum amount for any one condition
Limits on the total amount claimed in any one year
Not providing cover for loss of pets by theft or straying
Not providing cover for dental problems
Dog insurance policies that don’t cover personal liability (in case your dog attacks someone)

Purchasers should also look at the amount of excess they have to pay, and particularly watch out for policies which have “co-excesses” where you pay a percentage of any claim.

“Some pet insurance treatments can cost thousands of pounds says Brown, If you agreed to pay 10% of any claim as an excess you might find yourself paying hundreds of pounds towards your pet’s treatment.”