Pet insurance like most insurance is not compulsory, but is again something a lot of people can’t afford to not have. Many people don’t take pet insurance because it’s another cost on top of vaccinations, food and other expenses associated with owning a pet.
They see it as a waste of money because most of the time pets are healthy, but this can be a mistake. Should your pet fall ill, or need surgery due to an accident, pet insurance will often pay for itself many times over. The average cost of a cat’s dental surgery is over £230, and the average cost of an operation on a cat which has been hit by a car is nearly £550.
Many cat policies start from as low as £50 a year, and the same applies to insurance plans for dogs and other animals.
As with all insurance, if nothing ever happens you don’t get any of the money back, but it comes down to affordability. Most people can afford to pay £4 a month in case their pet gets injured or ill, but can they afford to pay out over £500 the one month something does go wrong?
As with all policies, the price of the insurance is affected by the type of animal you own, the excess you are willing to pay, and the age of the animal, especially as older cats and dogs are more likely to get ill.
Many people opt for pet insurance as they feel their pet is like part of the family. They know humans have the NHS should anything happen to them, but animals aren’t as fortunate. By insuring your pet, you know you’ll be able to afford to look after it should anything go wrong.
Good Housekeeping worked out that the average dog costs £30,000 to keep over a lifetime, including all food, veterinarian costs and insurance. If you bought a £30,000 car or painting you would most likely want it insured, so why should a pet be any different?