Are you taking care of your pet? You may be showering your beloved furry friend(s) with all the love in the world but if disaster strikes and your dog or cat suddenly needs expensive medical treatment, will you be able to afford it? It’s time to consider pet insurance!

Looking after our best friends:

With around 15 million domestic dogs and cats in the UK there is no doubt that we are an animal-loving nation but whether or not we are being responsible pet owners is a different story. However, only around 4 million of these pets, less than one in three, are insured. With the credit crunch now in full swing an alarming number of cats and dogs are going without necessary veterinary treatments because their owners cannot afford it anymore. Whilst people's incomes and expenditure capacities are being cut drastically, vet fees are on the rise. Soaring insurance premiums along with the tight squeeze on our spending is leaving even more pets without cover and as a result people are faced with having to put their pets down as they do not have the means to pay for vital operations and ongoing medical treatments. The latest research has suggested that 1.6 million Britons have made the decision to put down at least one cat or dog in the last five years because they were unable to pay vet fees and follow-up medical care expenses. Further research has shown that half of the UK's vets have had to put a cat or a dog to sleep in the past five years for the same reasons. To make matters worse, pet bills have shown to have doubled over the past 5 years, which in turn has increased pet insurance premiums. However, if you want to make sure you will be able to look after your pet if disaster strikes, invest in a good pet insurance solution using the help of online insurance comparison companies to help you find competitive quotes.

The cost of owning a pet:

Around half of the UK's pets need veterinary care at some point during their lifetime. The cost of maintaining a pet varies depending on factors including breed, age, the location of where the pet lives and whether or not the pet owner has pet insurance. Treatments can range from skin treatments such as eczema to hip replacements and bone restructuring, all of which vary considerably in price. According to a representative of the pet insurance industry, an average pet insurance claim is now over £700 and it is a statistical fact that there are more pet insurance claims than motor and home ones. Although pet insurance premiums may appear high, they will seem modest when disaster strikes and you have to spend a fortune on their treatment after being in a car accident or eating poison.

Here are some figures on pet costs:

• The owner of an uninsured dog with a life-span of 12 years will incur expenses at an estimated £14,750 over the dog’s lifetime.
• The owner of a cat (average life span is 16 years) will have to fork out around £14,230 in expenses.
• Both these average totals include food, vaccinations, medical costs and other incidental expenses without pet insurance cover.
• Hip Dysplasia can cost more than £4,700 in treatment.
• A road accident or the long-term treatment for Diabetes can cost you more than £2000 in expenses.
• Special treatment such as X-Rays and medicine for Arthritis can also cost thousands of pounds.
• General veterinary care adds up to a minimum average of £150 for dogs and £120 for cats annually- and that’s without anything going wrong!
• The cost of things like food, bedding/ toys and parasite control adds up to around £830 for dogs and £450 for cats per annum. Without insurance you could find yourself footing a bill double the size of these figures if your pet suddenly needs special treatment.

Pets and insurance:

Deciding what type of insurance you need for your pet(s) varies depending on what type of cover you think will be necessary. The more extensive your pet insurance policy is, the better you'll sleep at night knowing your treasured animal is protected. There are three main types of pet insurance available:

• Time limited policies are the least comprehensive types of pet insurance available. Although this is the cheapest policy obtainable, it will limit you to a claim period of 12 months for any one condition. This type of insurance isn't suitable for breeds or pets predisposed to long-term chronic health problems.
• Maximum benefit cover will allow pet owners to claim at any time but it will also apply a maximum for the amount covered. Often these maximum limits are applied separately so that if you reach your maximum with one condition you will still be eligible to claim for other conditions.
• Lifetime cover is the most comprehensive type of pet insurance available but it is also the most expensive. With this type of insurance your pet will be covered for life for any illness or condition although some policies may impose an annual claim maximum.

If you're looking to purchase pet insurance, by using insurance comparison sites you can look into additional benefits such as Optional Extras and see what deals and benefits are available online. Items such as veterinary fees, kennel or cattery fees, rewards for finding stolen pets and expenses for cancelling a holiday when your pet becomes ill are all categorised in Optional extras. All policies usually cover policyholders for personal liability relating to their pets.

Pet insurers generally all limit their cover to 12 months but there are companies that have limit-free policies. Although this may be insignificant if your cat gets a cold it can prove vital to your Insurance needs if your pet suddenly develops a long-term illness.

Finding the right pet insurance policy:

• In order to find the right type of pet insurance it is essential that you shop around for a policy.
• By using online insurance comparison companies you can avoid being left facing a shortfall and ensure the policy you chose provides cover for all your pet's Insurance needs.
• It is generally recommended that you do not purchase a policy which offers less than £3000 worth of cover in vet fees.
• By comparing all the different types of policies online you can quickly see what type of insurance your Pet needs and where to go to get the best price.
• Policy details such as renewal cover, claim Limits, cover period Limits and special treatment inclusions can all be reviewed on the policy summaries once the customer has been quoted.
• The long and daunting process of finding pet insurance can be quick and painless when you use insurance comparison sites to ensure you are getting extensive cover for the best price you can find.