WHY DO YOU NEED
PET INSURANCE?

Owning a cat or dog can be costly, especially if they get ill or injured. Around one in three pet insurance customers need to make a claim on their policy each year for unexpected vets’ bills. This means that you’re more likely to make a claim on pet insurance than you are to make a claim on your house or car insurance.

Having pet insurance makes sure that, if anything happens, you could get help with the vet’s bill. It also covers things like lost pet advertising, cattery and kennel bills if you need to go into hospital, theft or straying, holiday cancellation and pet travel abroad.

MOST COMMON CLAIMS

HOW MUCH COULD A VISIT TO THE VETS COST?

We like to think our cats and dogs will only need treatment if they’re in an accident, but the most common vet visits are actually due to illness. Here’s a list of some typical pet insurance claims and how much treatment could cost you.

Dog

Dogs

1.

A rupture of the cruciate ligament in the leg £2,370

2.

Accidentally swallowing an object £1,097

3.

Skin disease or irritation £619

4.

Back or spinal condition £1,050

5.

Diarrhoea claim £346

Cat

Cats

1.

Broken bones £1,507

2.

Lymphoma £1,826

3.

Vomiting £443

4.

Difficulty breathing £635

5.

Sudden weight loss £462

An expert opinion

As a vet, if a client asks me about the importance of appropriately insuring their beloved pet, I ask myself if I would risk not insuring my own animals. I once made the decision to not insure one of my pets and learned the hard way what it means to not have the safety net of insurance. Even being a vet, I was not able to provide the best tailored care for my own pet and since then I have all my pets insured.

Professor Holger Volk, Clinical Director of the Queen
Mother Hospital for Animals at the
Royal Veterinary College

rvc

The Royal Veterinary College in no way endorses Argos Pet Insurance or any of its products.
The RVC is ranked 3rd in the world as an institution for academic veterinary studies.
For more information on the RVC, please click here.

SELF-INSURANCE

HOW DOES SAVING UP COMPARE TO PET INSURANCE?

Many pet owners wonder if it would be better to build up a piggy bank fund to pay for
vet treatment rather than paying pet insurance premiums year after year. The answer
really does depend on your pet and your dedication to saving, so we’ve summarised
the pros and cons for you.

Self-Insurance

Vs

Pet Insurance

Self-Insurance

If your pet doesn’t get ill, it doesn’t cost you anything

You can pay for any treatment you want, not just what the insurer approves

Your pet doesn’t miss out on treatment for pre-existing conditions

You don’t have to spend time searching for the right policy for your pet

Pet Insurance

Treatment may cost more than you’ve saved, especially if you’ve only just started self-insuring. See the most common claims above

Vet bills are on the rise and your savings may not grow at the same rate, which may mean you’re not able to cover the costs of treatment in the future

Road accidents and lengthy stays at the vets can soon rocket to thousands of pounds

If you’re not good at saving regularly, you could only build a small fund

If your pet injures someone or damages someone’s property, you will not be covered

DIFFERENT POLICY TYPES

WHICH PET INSURANCE IS BEST FOR YOUR PET?

There are four types of policy on the market. Once you’ve chosen one, make sure you compare pet insurance policies properly before buying. Take the time to double check the terms, read the small print and make sure all your pet’s needs are covered.

Accident only

The clue is in the name – these policies only cover accidents, NOT illness. Some insurers will cover illnesses developed after an accident but it’s best checking before choosing. It’s worth noting that a recent Which? survey found 70% of claims were for illness, not accidents.

Before you choose an Accident only policy, first think how likely your pet is to get ill. How old are they? Is their breed prone to hereditary illnesses? Do they get lots of clean air and exercise?

Time limited/12 month

Time limited or 12 month policies give you a maximum amount to spend on vet fees for each condition. You’ll be covered for this specific condition for a set time – usually 12 months from the diagnosis date or first treatment.

But the catch is that when this ends, that condition will be classed as pre-existing and no longer covered. Most insurers won’t accept pre-existing conditions, so if you move your pet’s policy, you’d be left to pay the vet’s bill for that condition for the rest of their life.

timelimited

Maximum benefit

Maximum benefit policies give you a fixed amount of money to use to claim for individual conditions. Once the limit is reached, the condition will be treated as pre-existing and not covered anymore – just like time limited/12 month policies.

The difference is that there’s no time limit, so you have as long as it takes to reach your pay-out limit before claim payments stop. You will need to renew the policy each year to have access to the cover.

Again, it’s worth noting that most insurers won’t accept pre-existing conditions, so if you move your pet’s policy, you’d be left to pay the vet’s bill for that condition for the rest of their life.

maximumbenefit

Lifetime

Lifetime cover gives you a set amount of money to spend as long as you renew your policy and there is no break in cover, the vet fees limit is reinstated each year. So, if while insured your pet starts to develop an ongoing illness, like diabetes or arthritis, or a reoccurring illness like an ear infection, there isn’t a time limit on how long treatment can last. You can continue to claim each year.

Cats and dogs, like humans, are more prone to illness and ailments as they get older. Price are likely to increase at renewal, because of this likelihood and also when a claim has been paid. New developments in diagnosis and treatments have meant that vets can give them even better care, which is great news for your family pet, but means an increase in vet costs. If your pet has ongoing conditions such as diabetes, you may find it difficult to get that covered under a new policy as you will probably find that other providers won’t cover pre-existing illnesses and injuries (known as pre-existing conditions) and it can be harder to insure older dogs.