Find out how you can save money on pet insurance by doing things like researching the best offers, getting your pet vaccinated, having them microchipped, and purchasing several pet policies.
Why should I compare different policies for my pet?
A visit to the veterinarian is not inexpensive, but the cost of insuring your cat or dog can also be rather high.
It is possible that switching pet insurance providers would not save you money, in contrast to switching auto or homeowner’s insurance. This is due to the fact that your pet will be older and maybe less healthy in comparison to when you purchased your prior policy.
In this article, we will explain how to examine different pet insurance policies in order to locate the one that best suits your animal companion at a cost that is within your financial means. We also provide in-depth evaluations of various pet insurance companies as well as comparisons of the best and worst policies available.
How to shop around for the best deal on pet insurance using online comparison websites
You can better comprehend the costs connected with the various types of insurance policies by using a price comparison website.
Check to see that the policy specifics correspond to what you are anticipating and that the insurer has gotten the correct information about you and your pet in order to provide an accurate estimate after you have reached the website of the insurance provider.
What information do I need to provide to get an estimate for pet insurance?
You are going to need these facts in order to get an estimate for insurance on your pet:
The age of your pet in human years
The breed of it and its size.
The condition of its health right now and its whole medical history
Its previous patterns of behaviour
If you bought it rather than having it adopted, the whole amount that you spent on it.
Finding a reduced premium for your pet insurance could be as simple as doing some research on the specific requirements of your breed of animal. It costs more to insure certain kinds of dogs since they are more likely to sustain certain injuries.
For instance, Labrador retrievers can be predisposed to issues with their cruciate ligaments, while dachshunds can be predisposed to issues with their backs. Treatment for either of these conditions can cost several thousand pounds.
It is appropriate to consider a lesser degree of cover for cats because, on average, they are in better health than their canine counterparts; nonetheless, cats can still be predisposed to developing chronic diseases such as hyperthyroidism later in life.
Talking to your veterinarian about common diseases or inherited disorders is another option to consider. They should be able to provide you with an estimate of the cost of the insurance policy you ought to acquire for your pet.
Check out the pet insurance companies that aren’t featured on comparison websites.
It is in your best interest to request price estimates from insurers who do not appear on some or all comparing websites. To read our reviews, click on the following links:
We recommend Direct Line Petplan.
Make use of cashback sites in order to obtain even more affordable pet insurance.
Cashback websites are yet another type of comparison website that are available. When you make a purchase of any kind, including insurance, after clicking via one of these websites, such as Quidco or TopCashback, you are eligible to receive a cash reward. The name of these websites gives away what the reward is: cash.
It is in your best interest to look into these while you are shopping around for discounts; however, even with cashback, they may not necessarily provide you with the best deals overall value.
If you can find the same coverage elsewhere for £700, then purchasing an insurance policy for £1,000 with a rebate of £200 is not even close to being a good deal.
What kind of insurance do I require for my pet?
There are primarily three forms of insurance for your pet:
There is a sort of pet insurance known as lifetime cover that is the most common and all-encompassing. This policy will pay for treatment indefinitely over the course of your pet’s lifespan, subject to annual limits.
Pet insurance with a non-lifetime coverage option is less comprehensive, has some restrictions, and may limit the number of claims you may make for each ailment or over a certain period of time, even if you renew your policy.
Accident-only pet insurance is the most affordable sort of insurance; however, it does not cover illnesses and only pays out a predetermined amount of money to cover the cost of treating accidents.
More information regarding the distinctions between policies can be found in our guide titled “Pet Insurance Explained.”
How much protection do I require?
The Association of British Insurers estimates that the average amount paid out for a pet insurance claim in the year 2020 was £817.
Taking into account the fact that it is not unusual for an individual to be required to file many claims, the following is a rough starting point for what we would recommend to you:
Insurance that provides benefits in the event of both injuries and illnesses
Avoid purchasing insurance policies from which your annual payout potential is less than £2,000 by doing so.
Keep in mind that these are the bare minimum suggestions, and that any additional treatment expenses that go above the level of coverage you select will come out of your own money. For more information on why the breed of your pet could effect prices, continue reading below.
Best Buy pet insurance policies
The policies that have been designated as Best Buys provide outstanding levels of coverage, as determined by our team of specialists.
We examined over 150 different insurance policies for cats and dogs, looking at their minimum payouts and determining whether or not they cover dental care in the event of illness or injury.
The insurer that is providing the insurance cannot have a complaints record with the Financial Ombudsman Service that is worse than the industry average or have gotten low ratings for its service from its customers, especially for the way it handles claims.
Best Buy status can only be awarded to policies that provide lifetime protection.
Should you get insurance for your pet?
Your dog or cat’s breed will determine your chances of winning. A poll of members of Which? who held pet insurance in 2021 found that just 16 percent of those who carried pet insurance for 10 years or more or more years had never made a claim on their policy. This was the finding of the survey.
There are other options available to you if you are unsure about the benefits of purchasing pet insurance.
You have the option of self-insuring by setting aside a predetermined sum of money to cover any prospective medical expenses. The advantage of adopting this strategy is that it allows you to keep your emergency fund open for use in other situations, while also allowing it to accrue interest (though inflation may sap its value over the years).
Because the day-to-day running expenses of a business can easily run into the hundreds of pounds, it is in everyone’s best interest to start putting money away as soon as possible.
There are a number of charitable organisations that provide free veterinary care for pets; however, eligibility requirements for getting assistance typically include having a low income, being retired, or receiving certain types of governmental benefits.
Cheap pet insurance if you’ve got many pets
If you have more than one pet, it is in your best interest to look into whether or not you may get a discount if you insure them all with the same insurance company.
There are a number of companies that provide insurance for pets that will give you a discount, sometimes as high as 10 percent; thus, check into a multi-pet coverage to determine whether or not you can reduce your expenses even more.
Insurance for exotic pets that is rather inexpensive
Even though cats and dogs are the most common pets, many people who adore animals also keep snakes, spiders, and lizards as companions.
It’s possible that typical pet insurance policies won’t provide sufficient coverage for more unusual pets and animals with dramatically different requirements, such horses, birds, and rabbits.
Talk to people who specialise in pet insurance to obtain the coverage you require, and if you’re still having trouble, use the find a broker service provided by the British Insurance Broker’s Association for more assistance.
There are now more methods to save money on your pet insurance.
Given the significant expense of pet insurance, even minor adjustments can result in significant savings:
1. If your pet is in good health, you should purchase insurance for them.
Although it might not make sense at first glance, it is in your best interest to purchase pet insurance when your animals are in good health. This is due to the fact that pre-existing conditions are typically excluded from brand-new insurance coverage for pets.
If you obtain pet insurance before your animal companion develops a disease, you increase the likelihood that your pet will be covered for a wider range of conditions.
2. Pay annually, if you can afford it
Although it may appear to be more convenient, making payments on a monthly basis is, in reality, the same thing as taking out a loan with a high interest rate, which can drastically increase your expenses.
If you pay for the membership on an annual basis, you can be eligible for a considerable discount. Spreading out your payments could be made easier with the help of an interest-free purchasing credit card.
3. Ensure that you are up to date on all of your immunizations.
You can truly help yourself save money on pet insurance by ensuring that your pet stays in the best possible health. This can be accomplished by ensuring that your pet has all of the necessary vaccinations and injections on a consistent basis, including booster shots.
This might make all the difference because if your pet gets sick and you have to file a claim, the cost for your pet insurance could skyrocket in the years to come.
4. Make sure your pet has a microchip implanted.
Since April 6th, 2016, having your dog microchipped is a legal necessity in all 50 states.
It was announced in December 2021 that cat owners will be forced to have their cats implanted with microchips by the time they reach the age of 20. Cat owners who choose not to comply will be subject to a fine of £500.
Be careful to ask about this when you are comparing prices for cat insurance because some companies will give you a discount if your cat has a microchip.
5. Bargaining over the extension
Be prepared to file a complaint with your pet insurer if you believe that they have increased your premiums without a valid reason or if they are stating that your pet has conditions that it does not have. It may be helpful in this situation to consult the veterinarian who treats your pet.