Pet insurance: Protecting your pet and avoiding unnecessary bills

As a nation, we’re obsessed with our pets. According to the latest research, about 57 percent of UK households house 38 million pets, including 12 million dogs, 12 million cats, 1 million rabbits and 600,000 hamsters.

Over lockdown, an astonishing 3.2 million households purchased or adopted a pet – and a huge and evolving industry has grown, from doggy daycare to specialist food providers.

The subsequent cost-of-living-crisis has made things hard: 3.7 million households admit to having relinquished a pet in 2022. Following the pandemic pet boom, 30% of younger pet owners say that the cost-of-living crisis has made them rethink pet ownership.

The demand for pet products and services has led to spiralling prices. Pet insurance and vet bills are the most important pet expenses you’ll encounter and though many more policies have come to market in recent years, lots of people are put off by high prices or confusing contracts.

Read on for a brief run-down on your options – and how to avoid huge vet bills later down the line.

Pet insurance choices

Like all insurance products, pet insurance varies considerably. While there are various things to look for in a pet insurance policy, it makes sense to buy the best one you can afford – which doesn’t always mean the most expensive:

The best policy you can buy is a ‘lifetime’ policy, which covers your pet for treatment for life, though only for a set amount each year. These are the priciest policies but make the most sense for pet lovers.
You can also buy ‘maximum benefit’ policies that will pay up to a set ‘cap’ for each illness.
Finally, there are ‘time limited’ policies which only cover your pet for a set period (your standard 12 month policy) and ‘accident only’ policies.

If you’re on a budget, an accident only policy is worth considering. As the name suggests, the policies will only cover you for genuine accidents, not illnesses. But if money is tight, they can really help out if your pet is injured.

Take time to read the policy to understand what is defined as an accident – and get the insurer to explain anything that isn’t clear. Pet theft cover is a new type of insurance and usually you have to purchase it separately.

Vets and vet bills

Those of us that are blessed with a pet don’t want to think about their pet getting ill, so leaving aside some basic injections and treatments, many people avoid speaking to a vet until something bad happens.

Our first top tip for avoiding expensive bills, is to get to know your vet. Not only is it vital to know where to go if you need emergency treatment is priceless – but by speaking to your vet before signing up, you can find out if their fees are likely to be covered by your insurance.

There’s quite a lot of variation with vet fees – and if yours is pricey, you should check with the insurer how much it would be willing to cover.

Second, should you ever need to make a claim, make sure that you speak to the insurer and tell them about the costs as soon as possible.

Some vets may recommend ‘experimental’ treatments that aren’t recognised and might not be covered. So make sure you look into what every treatment involves and how it helps the underlying medical condition.

Resolver can help you sort out complaints about pet insurance, vets and every pet service you can imagine

If you have any thoughts on this topic, or any other consumer issues you would like us to cover, feel free to get in touch with us at support@resolver.co.uk.