Budget Direct pet insurance | Compare the Market (2024)

FAQs

Which level of pet insurance is the best? ›

Lifetime policies

These policies cover your pet for their entire life, taking care of expenses for both illnesses and injuries. Although they are the most expensive option, they offer the highest level of protection, with coverage limits that reset annually upon policy renewal.

Pet insurance can be relatively expensive, so it's worth shopping around for the best deal. Comparison websites are a good place to start. But they don't all cover the whole market. So use a few different sites to make sure you don't miss any good deals.

Most pet insurance carriers account for factors such as your pet's breed, health, and especially their age when calculating a price. As those risk factors increase, you can expect your premiums to increase too.

That's why dog liability insurance is a must for any responsible pet owner. If you are held financially responsible for someone else's injuries or property damage caused by your pet, then liability coverage can help pay for the cost — which could quickly add up to tens of thousands of dollars.

We recommend an annual limit of $10,000 for most pets, offering enough coverage for a sudden emergency or illness. For reference, a single trip to an emergency care clinic can cost upwards of $375 to $965 for cats and $534 to $1,285 for dogs.

How Much Does Pet Insurance Cost on Average? According to our research, pet insurance costs $720 a year for dogs and $384 for cats, with an overall average monthly cost of around $46 per month.

Cons Explained

Many plans require you to pay upfront and then get reimbursed: Typically, you must pay your vet for services rendered. Then, you can submit the claim to your pet insurance for reimbursem*nt. This can take time. Premiums increase over time: The older your pet gets, the more likely they are to get sick.

A: Typically, pet insurance premiums are not deductible. However, if your pet is a certified service animal, the insurance costs directly related to their health care may qualify.

While some pet insurance companies may occasionally claim to not increase with a pet's age, you'll still find that those premiums increase over time. These policies may attribute these increases to other factors like rising veterinary costs or inflation, but they'll still go up over time.

What is the average excess on pet insurance? ›

This is not included as standard with every policy but is very common with insurance for older pets. It is a contribution you will pay towards vet bills and is typically 10-20% depending on your policy.

"For owners, it's the reassurance that their pet can access the veterinary care they may need for problems connected with old age, and for the pet, getting this care can mean a much happier and more comfortable retirement. A lifetime policy is best, as this will provide cover towards vets' bills year after year.

"Insurance helps cover the unanticipated costs of pet ownership and can be a huge relief for owners as they typically cover 80-90% of the costs, depending on the plan," says Dr.

As a general rule, cover less than £5000 is likely to leave you with problems if your dog gets in a serious accident, and £7000 is the minimum most vets would consider to be fairly comprehensive.

Pet insurers generally don't cover pre-existing conditions. They also may require waiting periods before your pet is eligible for different types of coverages. It's best to get pet insurance early in your pet's life to help ensure any conditions they develop later in life will be covered.

Three main types of pet insurance are accident-only, accident and illness, and wellness plans. Each of the plans offers different coverage levels to meet the needs of pet owners, whether that be emergency care or routine care coverage.

A more affordable monthly premium requires a higher deductible, and a lower deductible will require a higher monthly premium. A young and healthy pet is less likely to be diagnosed with a chronic condition, making a higher deductible and lower monthly premium a good choice.

The cost of pet insurance varies based on your pet's location, breed, age, and the amount of coverage you want.