The Cost of Pet Insurance
For people who have pets and love their pets, one of the first things that they consider is getting an insurance policy for their pets. Having a pet dog or cat or any kind of pet for that matter comes with responsibilities.
You have to take care of it, feed it, and to a certain extent, get a policy for your dog or cat so that you can actually afford expensive vet bills should the worst happen. The financial liabilities that come with having a pet can be quite large.
So what is the cost of pet insurance?
Today, owning a dog can cost you around £16,900 for the whole lifetime of the dog. If you own a cat, your average expenses will be around £17,200 for its lifetime. Now imagine if you have a dog and a cat or if you have more than one dog and one cat. We are talking about big money!
Then the commodities for the pets are rising and if you want your pet to have the best of everything, you might actually go broke. If you get older, medical costs for your pet is another budget consideration.
Pet insurance policies vary from one pet to another. There are some things that affect the cost of insurance such as the type of pet, the age and the breed. The price of premiums will also depend on the type of company that you are going to choose.
What else will affect the my pet insurance costs?
The age of your pet will dictate the price of premium. The older your pet is, the higher the premium that you are going to pay for. So when you are planning to have a pet insurance policy, it is best to do it when your pet is still young, and try to secure a price for as long as possible.
Sometimes the price for the premium will also depend on the location where you live. If you live in a neighbourhood that is a high-risk area, then you might pay a higher premium.
The coverage and deductibles will also dictate the total cost of your premium. Some types are pet insurance that covers a lifetime, liability insurance, discounted pet health care, and accident pet insurance.
For a deductible insurance, you may be charged around £35. Premiums for dogs are around £15 and premiums for a cat are around £13.
Having a pet insurance policy can actually save you a lot of money in times of emergency. You do not have to dip into your savings to have your pet treated. When you pick the insurance company for your pet, do not avail of the first one that comes along your way.
Do some shopping first and choose the best insurance that can offer you the best, cheapest, and most beneficial pet insurance policy. Also consider the reputation of the insurance company.