Owning a Pet in the United Kingdom Vs. The Costs of Pet Insurance

In Education

A report published by Statista Research Department in 2018 revealed that 45% of households in the United Kingdom owned some kind of pet. The same year, the estimation of the total population was around 51 million, the most popular being a dog, and the least popular being mice.

The high numbers of ownership clearly illustrate that there is a big market for pet essentials such as food and accessories. This includes veterinary and insurance services. While we all love to have pets, it can be upsetting if they are injured or becomes ill unexpectedly. Additionally, finding the best care for them can be a daunting task because vet bills sometimes tend to be very high.

However, the good news is that pet insurance can help in reducing the costs of taking care of your pets. It is the surest, which guarantees that you are not spending hundreds of pounds on your pets.

What Does Pet Insurance in the United Kingdom Entail?

No matter how much you take care of your pets, there will always be an unlucky chance that would get them sick, for example, when they eat something bad. This is the reason why the UK is such a strong advocate for pet insurance.

Is pet insurance costly? This depends on the various policies available, usually defined by the type of cover you choose. There policies for medical treatment and vet fees, third party liability, cosmetic treatments, reimbursement if the pet dies, and dental treatment as a result of injuries and routine checkups, among others.

The costs would also vary depending on the type of pet. For a cat, you would have to part with £82 per year while that of the dog begins from £171 per year. However, multi-pet insurance from some insurance providers allows you to insure more pets within one policy, and in return, you get a discount.

But What Is The Best Pet Insurance?

This will vary because of various factors. One of the most important considerations is the age of the pet, its vulnerability to illness, and the amount you are willing to pay. Nonetheless, read below some of the primary insurance covers and what they cover: –

Life Pet Insurance – It is commonly referred to as a complete type of insurance. This is because it is an all-rounded policy covering pet’s accidents, illnesses, and or injuries.

Time-limited pet insurance – It indicates that it is for a limited time. And although it covers accidents and illnesses, the cover could run just for 12months or 2years.

Accident only insurance – This purely covers accidents, and the insurance provider would not take liability for illnesses or sickness on the pet.

Maximum benefit pet insurance – The existence of the cover is guided by a maximum amount against particular conditions. This implies that once the maximum amount is used, the insurances ceases to cover that condition.

Pet insurance may offer peace of mind but carry out market comparisons

Insuring your pet does not imply just getting a provider and signing some paperwork. No. It is necessary to first get facts right, dos and dont’s as well as terms and conditions. For example, you need to know: –

  • Your pet cover has a waiting period of 14 days after the policy start date
  • Older pets are considered more of risk; hence their premiums are higher
  • A majority of insurance policies do not cover pre-existing medical conditions. However, it is possible to get a cover, which covers historical conditions.
  • As it is now and before 31 December 2020, when the Brexit transition period ends, you are allowed to travel with your pet

The overall recommendation is since some pet breeds are prone to hereditary conditions to ensure you choose a healthy pet right from the beginning to reduce the costs of maintaining them.

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