Is Pet Insurance a waste of money?
According to a market study issued by Mintel, one in three domestic pets
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The word "unexpected" is the important aspect here. If you're looking { life assurance } for pet insurance to provide cover for scheduled treatments such as nail trimming, vaccinations or teeth cleaning, forget it - policies that provide cover for health maintenance treatments are as rare as hens' teeth! Neither will you find cover for elective treatment, such as spaying or castration. This means that the most common reasons for visiting the vet are not insurableable.
But it's those unexpected appointments that are liable to be the high-priced ones! Technical progress in animal care mean that more difficult conditions can be { life insurance } successfully treated. But the cost of emergency care can be horrific. A dog that tears a ligament that can now be treated - but the cost? Wait for it - around £1,500! After all, a series of X-rays could cost £400 complete with the anaesthetic. And a cat that gets knocked over could easily cost £700, even more, to treat. The costs can be serious!
So if most reasons for a vet appointment are uninsurable, what do we get for our insurance premiums?
Pet insurance plans { motor insurance quote } fall into three categories. The first and cheapest option limits the payout per condition and ends cover after 12 months of treatment. { mortgages } The second places a maximum value on the total annual payout and the third limits the value of the claim for each condition or event. And with all these plans you'll be required to pay an excess on any claim. The excess is usually between £100 and £50. Incidentally, most of these plans pay out a predetermined sum if you pet were to die.