We all want the best for our pets and with so much hardship around it is not surprising that many people are tempted by pet insurance adverts which promise peace of mind for just a few pounds a month. But just what does the cheapest pet insurance for dogs and cats on the market actually buy you?
Vet Fees Covered
The cheapest pet insurance policies are usually accident only policies. This means they will only pay vet fees which are necessary to treat your pet after they have had an accident.
The cover limit for these policies may be as little as just £500 per accident in which case you had better hope that your pet only has a minor accident!
You will also find that most of these policies will only pay for treatment for up to 12 months after the accident.
So keep your fingers crossed that your pet does not require any ongoing medication.
Vet Fees NOT Covered
You will of course have to pay a monthly or annual pet insurance premium.
But in addition be aware that you will have to pay any vets fees for the treatment of any illnesses your pet has, from minor infections to cancer and other serious diseases.
You will also have to pay vet fees for the treatment of accidents once you have used up your cover limit. For example treatment of road traffic accident injuries can cost several thousand pounds.
Added to this you will pay for any treatment required after the 12-month time limit is up.
Third Party Liability Pet Insurance
You are legally responsible for any accidents caused by your dogs (although not your cats as the law deems cats to be “free spirits”).
This means that if your dog causes a road traffic accident or injures someone (however accidentally) then you could be facing a bill of tens of thousands of pounds.. if not more!
It is therefore very important to ensure that you have third party liability cover in place for your dog.
Although most pet insurance policies include this as standard, some of the cheapest policies don’t which means that you will need to make alternative arrangements.
Find out more about third party liability cover options.
Will the Pet Insurance Provider pay out?
Pet insurance policies have many exclusions, some many more than others. And some pet insurance companies have a much better reputation for paying out than others!
So it important to do a bit of research to find out exactly what is covered and what is not. This site – Pet Insurance Surveys UK – has been specifically designed to help you check out policies.
Peace of Mind?
The cheapest pet insurance policies around only cost a few pounds a month but as their coverage is so limited you are still potentially left facing high vet bills in addition to your monthly pet insurance premium.
Once you are aware of this it is difficult to see how the cheapest pet insurance can give you peace of mind!
Of course if you hadn’t read this article, and have little knowledge of pet insurance you might have been… in blissful ignorance of how limited your pet insurance actually was!