Choosing any type of insurance can be tough, as you have to compare every minute detail and comb through every policy quote you receive. Pet insurance is no different. In fact, of all the insurance types, pet insurance possibly has the most confusion surrounding it, with different insurance companies having vastly different products to offer potential customers.
There are essentially three different areas to look at when choosing the right pet policy for you though, and these are detailed below…
Level of Cover
This is, by far and away, the most important thing to consider. Some policies offer cover for just the year of the contract, while others offer lifetime cover. The former is generally to be avoided, as it won’t have you covered if your pet contracts an illness or problem that will affect them for the rest of their life – leading to massive premiums when you try to find a new policy in a year’s time. A lifetime policy will, as the name suggests, cover a pet for its entire life though.
You should also check the amount that a policy will pay out. Some pay on a 'per condition' basis, while others set a total maximum, therefore bundling all conditions together. It’s generally accepted by pet owners that the per condition option is better, as there’s no need to worry about how many conditions your pet might contract or suffer from throughout their life.
Cost
This is a pretty obvious one, but unbelievably many people don’t look too hard when comparing the costs of pet insurance. When you consider that incredibly similar policies can sometimes differ by up to £20 per month in price, not comparing is surely a big mistake. Don’t forget to factor in the cost of the excess into your sums as well, as this can vary from £50 all the way up to hundreds and hundreds of pounds.
Advertising and Rewards
It’s a sad fact of life, but your pet could go missing. Your cat might decide that someone else is offering a more comfortable lap for them, or your dog might one day decide to chase that rabbit a little too far, and not be able to find its way back. The best insurance policies can help when this happens though, as they offer a budget with which you can advertise your lost pet, and also offer a juicy reward to anyone who brings it back.
Many insurance policies will also provide you with financial recompense should your pet never return. This can vary wildly between the different policies, from a couple of hundred pounds into the thousands. The level you choose really depends on how much you paid for your pet, and how much you think it’ll cost to replace. Payouts can also be received should an animal die due to accident or illness, however this only generally applies to pets that have not yet reached old age.
Of course, everyone is different though, and everyone will have their own specific requirements for pet insurance. So, perhaps the most important thing to say is this: regardless of your requirements, make sure you compare all policies carefully, and never simply plump for the first one you see. You can do this by using the pet insurance comparison tool right here at PayingTooMuch.com, which will provide quotes from all of the big names in the pet insurance industry.
