Who Offers the Best Pet Insurance?

What is pet insurance?

Simply put, pet insurance is a policy you can buy to help minimise medical expenses for your pets if they become ill or injured, by covering some if not all of the costs of veterinary treatments or operations.

Pet insurance explained

Many pet owners consider their beloved cat or dog as one of the family. Unfortunately, when a pet falls ill the vet’s fees can quickly mount up. Pet insurance is there to help you pay for the veterinary costs should your cat, dog or other domestic pet becomes sick or is injured.

In addition, if you choose you can expand the cover to include a range of other perils, such as public liability (if your dog attacks and injures another animal and/or person or it damages someone else’s property), the cost of keeping your cat or dog in a cattery or kennels if you fall ill and must go into hospital or temporary care and even the replacement value if your animal is stolen or lost.

Why is pet insurance important?

Ultimately, pet insurance is important as it helps you to look after your pet, and in some cases, could be the difference between getting them treated or having to be put down.

When looking for the best pet insurance for you, consider the one that caters best to the needs of your pet, including coverage for any underlying conditions they may have, even if this means paying more compared to other policies.

What kind of pet can I insure?

Most people tend to buy pet insurance for their cat or dog; however, it’s perfectly possible to insure a range of domestic animals, such as hamsters, rabbits, guinea pigs or anything else you may find in a pet shop. This also includes certain types of birds, like budgies or parrots.

Pets which you keep for the purposes of racing them, such as greyhounds (unless they are retired) or pigeons, may cost more to insure (or may be declined entirely) due to the higher likelihood of them being injured or lost.

Of course, pet insurance is available for the not-so-common pets too, so if you have an exotic animal, such as snakes, lizards, spiders – even tropical fish – you can still find there’s a policy out there for you.

Horses and ponies aren’t covered under domestic pet insurance but can still be insured by an equine insurance provider.

Do you legally need pet insurance in the UK?

No, you’re not legally required to have pet insurance in the UK, but as mentioned, it can be a cost effective way to take care of your pet should they need an otherwise costly medical treatment.

It’s also worth considering that pet insurance with public liability cover can help manage the costs of any damage your pet may have caused, as well as legal representation expenses if necessary.

How much does pet insurance cost?

The cost of your pet insurance can vary tremendously depending on what type of animal you are insuring, their age and what is covered under the policy. Insurance which has higher limits, more comprehensive cover and greater benefits will cost more than those offering basic cover for a limited number of risks.

The cost of pet insurance however is small compared to the £100s and even £1,000s you could have to pay in vet’s bills if your furry friend gets seriously ill or injured.

What does pet insurance cover?

Veterinary bills and medical treatments

At the most basic level you can buy pet insurance policies which work perfectly to cover you against unexpected vet’s bills for illness or injury.

These include the cost of drugs, any surgeries required and even physiotherapy to help your pet recover. Some policies will also cover the cost of non-standard treatments, such as acupuncture, homeopathy and behavioural therapy.

However, it’s important to note that some things – such as the cost of regular check-ups, vaccinations, booster shots, anti-flea treatments and grooming – will not be covered. For more information see the section on What is excluded from pet insurance? below.

Pet value on loss or death

Pet insurance also often covers the value of your treasured pet, should they die due to illness, accident, be lost or even stolen. While the average cat or kitten might be bought for less than £50 – often they are free to a good home – pure-bred pedigree cats can have a value measured in the hundreds and even thousands of pounds, as can many dogs.

Exotic pets by their very nature tend to be rarer and cost far more than ordinary domestic pets. While no sum could truly make up for the loss of your furry friend at least this will compensate you for your basic financial loss.

In cases where a pet goes missing some insurance policies will cover you up to a set limit to advertise for your lost pet and even offer a modest reward for finding the animal and returning it to you or for information that leads to a conviction if the pet was stolen.

Public liability

As mentioned previously pet insurance can also include an element of public liability cover should your animal injure someone or do damage to their property (including another pet or livestock). This cover is normally reserved for dogs, but it can also be extended to venomous exotic pets too.

Boarding costs

Many pet insurance policies may also cover the cost of boarding your cat or dog at a cattery or kennels, should you have to go into hospital or into temporary care. Often these boarding charges are only claimable for periods over four days, if the costs exceed a certain limit – such as £500 – and have an upper limit to all payments – say, up to £2,000 for any single occasion.

Overseas costs

Some policies will cover your pet for all or some of the above events while you are abroad (see section below Do pets need insurance to travel abroad?). This is great if you have a second home overseas which your pet might travel to with you.

What is excluded from pet insurance?

There are some things which you cannot insure against or claim for with pet insurance. What you are insured for will differ depending on your policy and provider. This is one of those occasions where you really should read the small print!

• Dental care (check carefully!). Some policies will cover this at an additional expense or even as part of their standard cover. However, some will not cover dental treatments for your pet at all or may have a limit on cost of treatments. Check your policy carefully and make sure this is in place if necessary. In all cases cosmetic dental work will not be covered.

• Pre-existing health conditions (see section below How does pet insurance work for long-term conditions?)

• Regular health check-ups, vaccinations and immunisations (including booster shots)

• Grooming costs – Including claw-clipping, de-matting and cosmetic procedures

• Routine and preventative treatment – This includes flea, tick and worm treatments, spaying and castration costs

• Pregnancy – Some policies may exclude claims related to pregnancy or your pet giving birth - Be sure to check

• Euthanasia and cremation costs- Some policies do not cover the cost of having your pet put to sleep and/or the costs of cremation. In addition, if these are covered then there may be policy limits which restrict how much they will pay in these circumstances. Again, check your policy carefully.

Always make sure you know what is covered by your pet insurance policy and what isn’t – Don’t find yourself in the unenviable position of having paid a premium only to find out later that you aren’t covered when the worst happens.

What types of pet insurance are there?

Pet insurance falls into four types: Lifetime, maximum benefit, time-limited and accident only.

Lifetime

This is the most comprehensive cover level and so is usually also the most expensive. However, it does provide the widest level of cover for your pet. Lifetime insurance means that you will be able to claim up to a set amount (detailed in your policy) every year that your pet is covered – for example, cover may stipulate a maximum total of £10,000 per year.

These limits ‘reset’ every year so in the example above you’d be able to claim up to £10,000 of treatment every year. Any costs over and above this will not be covered – For example, if the total value of your pet’s treatment comes to £13,000 in a single year you can claim up to £10,000 of this but you would have to pay the remaining £3,000 yourself. Lifetime pet insurance policies tend to set limit either by condition per year or lifetime annual cover (which works like a total overall limit per year).

• Per condition per year limit. This is where there is a limit to how much you can claim for per condition each year. For example, the limit could be £2,000 per year for your cat’s liver disease and £1,000 for skin conditions per year so these would be the maximum amounts you could claim annually. Again, these limits reset at renewal every year.

• Lifetime annual cover. This cover provides an overall limit to how much you can claim over the period of one year. For example, cover may limit the total amount for all claims to £5,000 per year.

Both types of lifetime cover will reset on an annual basis (so long as you renew your policy with that provider and don’t go elsewhere) so your pet can have ongoing treatment for the remainder of its life.

Maximum benefit

These may also be called per condition policies or money limited policies.

This type of policy often has limits which will not reset even when you renew so your pet will only be covered up to the policy limit for this condition for their lifetime, regardless of whether you renew with that insurer after a year. Once you have claimed for treatment up to this limit you will have received the ‘maximum benefit’ available under that policy. You will be responsible for the remainder and any further costs for this condition, even if you renew the policy with the same insurer.

As ever, check the small print carefully for details of the limits your policy will impose in any treatment before you buy to ensure you are getting the cover you want for your pet.

Time limited

This type of policy normally covers a pet for both injuries and any illnesses. However, these are limited to fixed limits in both how long you can claim for, as well as how much the insurers will pay for treatment. Normally claims are limited to around 12 months from when your pet falls ill or suffers an accidental injury.

When the time or monetary limit has been reached you will no longer be able to claim for your pet’s treatment. This applies even if you renew the policy.

Accident only

This is the lowest level possible to obtain for your pet and is the cheapest to obtain. It’s likely that the cover levels will be lower than lifetime or annual policies and feature larger excesses.

Accident cover does not insure against illness at all but only treatment if your pet suffers an accident (such as being hit by a car).

Is pet insurance worth it? Or should I put money aside?

Whether pet insurance is worth it or not ultimately comes down to individual preference. There’s always the risk that opting for a cheaper policy, or no cover at all, could lead to you losing out later down the line, so having your pet insured can give you peace of mind.

This being said, putting the money you would have spent on insurance into a high-paying savings account could generate worthwhile returns, if given enough time to grow. This pot could then theoretically be used to cover your pet’s medical bills if required, though you’d have to weigh up the un-subsidised price of any treatments against the cost of the insurance policy to ensure you don’t end up worse off.

What factors might increase the cost of pet insurance premiums in the UK?

Keep in mind, there are a couple of factors that can influence the price of your pet’s policy, including:

• Age – Older pets will cost more to insure and may not get cover at all
Medical history – You will have to declare any medical problems which your pet has already suffered. These can increase the premium or the risk may be excluded completely from cover (Never be tempted to lie or simply not disclose this kind of information – this is illegal and can result in both prosecution and your policy being cancelled)

• Type and breed of pet – Dogs tend to attract a higher premium than cats. Exotic pets and pedigree breeds will also tend to increase the premium you can expect to pay. However, on the plus side, some insurers offer multibuy discounts if you are insuring more than one animal.

The best pet insurance for you will likely be a policy which gives a level of cover you are happy with at a price you can comfortably afford. Of course, you can always choose to pay monthly to spread the cost of most pet insurance premiums but remember that you’ll probably be charged interest for doing so.

Why has my pet insurance increased so much?

Again, your pet’s age is usually one of the main contributing factors, however, there are a few other reasons why your insurance policy could increase over time.

Advances in diagnostic and surgical procedures, as well as rising staff salaries often drive up overall veterinary running costs, which, without subsidy, can see bills skyrocket over relatively short periods.

There’s also the effect of general inflation to consider, though you may find your insurance premiums rise at a faster rate than your income, which could further stretch your finances.

If you find your pet insurance is becoming too expensive, it may be time to consider reviewing your cover. Our chart above can help you compare the latest policies to find the right one for your situation.

How does pet insurance work for long-term conditions?

As your pet ages, they may start to develop long-term conditions, especially if they’re a pedigree breed that may be prone to certain issues. For a condition to be classed as pre-existing in the eyes of an insurer, any symptoms must have been present before any cover was taken out. For example, if it is known that your dog has liver problems before you take out the policy you will probably not be able to claim for treatments or death specific to this cause. If, however, your pet’s condition is diagnosed after 14 days from the start of the policy this will likely be covered (subject to your policy’s cover, terms and exclusions).

What’s more, if your pet has a family history or a tendency in the breed to develop certain health problems, you must declare this when taking out the policy. Most insurers will accept the risk if your pet is not showing any signs of this condition when the policy is taken out (although you may be charged a higher premium). If your pet subsequently develops this condition 14 days or more after the policy starts and you have ‘unrestricted’ cover then you will be covered (subject to your normal policy conditions, limits and exclusions).

If a standard insurer won’t cover your pet’s condition, you can still find the coverage you need with a specialist policy. While more expensive, these policies offer reassurance that you can claim for you pet’s condition when needed and may work out to be more cost effective should they need regular treatment.

Can I switch my pet insurance provider?

Yes, in most cases it is possible to switch pet insurance providers, even if you’re midway through your current policy.

Actively comparing other policies can be a good way to minimise the costs of pet insurance, particularly if you’ve recently been hit with a significant price hike. From there, consider whether switching to another policy (which could include paying any cancellation fees) is worth it, especially, as there could be a brief period during the switch when you have no cover.

Keep in mind, switching providers becomes a little more complicated when dealing with any underlying conditions with your pet, as your new insurer will have to decide whether to provide cover, even if your current provider already does. Because of this, it’s important to read the fine print of any new policy to ensure your pet is covered for what they need. Read our guide if you want to find out more about switching pet insurance providers.

What do vets do if you can’t afford treatment?

If you’re thinking about getting a pet, or are a seasoned pet-owner, you may be wondering what happens if you cannot afford treatment. This problem could arise of you don’t have pet insurance or your pet develops a condition not covered by your policy, resulting in having to pay the full unsubsidised cost of a medical procedure or medication.

If this happens, depending on the clinic, they may refuse treatment (or recommend euthanasia) if a payment cannot be made, though a vet should not unreasonably withhold first-aid or pain relief in emergency situations. Because of this it’s crucial to speak to your vet to see what options are available.

In certain circumstances, your vet may be able to offer a payment plan to help you cover the cost of the treatment or recommend cheaper alternatives as a compromise (though this may mean further treatments are required later down the line). In the case of the former, make sure to consider if these payment plans charge interest as this could mean paying more than the original cost of the treatment over time.

You could also consider seeking out other clinics that may have more reasonable pricing or turning to charities that may be able to help cover or subsidise costs if you meet certain criteria. The People’s Dispensary for Sick Animals, or PDSA, for example, is a charity that can offer low-cost or even free care for eligible pet owners, so make sure to research each option carefully before making a decision.

Do pets need insurance to travel abroad?

While not a legal requirement, having cover for your pets while abroad can help protect you against any unexpected costs while away. You’ll find that some pet insurance policies may include travel cover as standard, while others include it as an optional add-on for an additional cost. Most of these policies will cover travel for your pet up to around 90 days, but this can vary between providers, as can the number of trips you can take in a certain period.

Be aware that since Brexit, rules on taking your pet into the European Union (EU) have changed. For instance, unless issued in the EU or Northern Ireland, you can no longer use a Pet Passport to travel to an EU country with your pet, including assistance animals. As part of these new rules, known as the Pet Travel Scheme, you’ll now need to make sure your pet is microchipped, has been vaccinated for rabies, and has an Animal Health Certificate (AHC).

What does pet travel insurance cover?

Pet travel insurance can cover a range of scenarios, including but not limited to:

• Emergency vet fees while abroad
• Costs to house your pet should they be quarantined upon arrival in your destination.
• Cancellation of your trip as a result of your pet dying or in need of emergency care.
• Repatriation costs, to help get your pet back home if they become ill or injured while abroad.

Note, as with regular pet insurance, things like you pet’s age or any pre-existing conditions may affect your coverage so make sure you’re aware of what you can claim for before travelling.

Does pet insurance cover a pet’s emotional support needs?

Not as such, but there are some insurance providers that will cover a certain array of behavioural issues in pets, usually when diagnosed by a vet or animal behaviouralist.

Some of the most common problems that may be covered can include anxiety, aggression or destructive behaviour, with the policy paying out for training or medication. However, note that pre-existing problems may not be covered.