Pet
insurance Issues in UK
- Soaring costs
of treatment
- The cost of veterinary practice has
almost doubled over the last 5 years to $19 billion in the USA. Similar
increases are reported in Canada and Europe.
- This reflects the increasingly sophisticated investigations
and treatments available. Your pet can now have expensive procedures
previously only available to human beings, for example a CT scan or
radiotherapy.
- Is insurance
for me?
- Research in USA has shown that 50% of pet
owners want
their pets treated, whatever the cost. The remaining 50% take a more
pragmatic approach, seeing their pet as expendable is treatment costs
become excessive. While pet insurance should be particularly attractive
to the former group, the latter group would presumably favour avoiding
the need to destroy their pet, if possible. Insurance would be an
obvious
solution to their dilemma.
- Conditions excluded
from insurance
- Some pre-existing conditions and some
hereditary
disorders associated with certain breeds (e.g. German Shepherd dog's
hip dysplasia) are excluded.
- Routine treatments e.g. vaccinations or
neutering unless on medical grounds
- Older animal
surcharge
- As insurance fees are based on risk, there is
a slightly increased premium for older animals.
- Generous Caps
- There is a limit or cap applied to the cost of
a single treatment and the maximum allowed per year. These are rarely
reached, even where expensive treatment is required.
- Policy Excess
- As with other types of insurance, there is a
policy excess which varies according to specific policies.
- Whats' covered
- Accident and illness
- Advertising and awards if pet goes missing
- Cattery or kennel fees if pet owner
hospitalised
- Third party cover, e.g. if a pet causes injury
or death to a third party
- Soem insure for treatment of behavioural
problems
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