Budget Direct pet insurance | Compare the Market (2024)

FAQs

What is the best level of pet insurance? ›

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.

You can generally expect your pet's insurance coverage cost to increase each year, along with their age.

On average, pet insurance costs $60 per month for dogs and $32 for cats, based on quotes gathered by the MarketWatch Guides team. The cost to cover your pet may vary, but this type of insurance can offer financial protection against high-cost and emergency vet visits.

Simply put: The best age to get pet insurance for dogs is when they're young (puppies are best). As they age their health will inevitably decline, and they'll be inherently riskier to insure. That risk will be passed on to you, the owner, in the form of higher monthly and annual insurance premiums.

A pet insurance deductible is the amount you pay for veterinary expenses before your pet insurance starts paying for covered care. The lower your deductible, the less you'll have to pay out of pocket per claim, but you'll also pay a higher insurance premium.

First and foremost, there is typically a cost difference between what insurance will cost for a cat versus a dog. Cats typically see the veterinarian less than dogs and are also less likely to incur an injury. There are also fewer genetic issues that impact cat premiums.

When Is Pet Insurance Worth It? Pet insurance can be a good way to help offset a major unexpected vet bill, like cancer treatment or a broken bone, which can cost thousands of dollars. Without pet insurance, you would have to pay out of pocket for vet expenses.

Pet owners can enroll in accident-only, accident-and-illness, and wellness plans to help cover hefty veterinary bills throughout their pet's life. It covers diagnostics, surgery, hospitalization, and prescription medicine if your pet becomes ill or injured. Coverage can vary across providers.

How much should I cover my dog for? ›

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.

Age: As your pet gets older, they're more likely to have an expensive-to-cover illness or age-related injury. As a result, insurance premiums may increase.

A lifetime policy is best, as this will provide cover towards vets' bills year after year. This can be a great help - especially in cases where a chronic condition develops - which is unfortunately common in senior pets." Robin Hargreaves, Agria's Senior Veterinary Advisor.

Trupanion's pricing is likely higher than average because all plans include unlimited coverage and a 90% reimbursem*nt rate. Your plan cost will vary depending on where you live and your pet's breed, age and species. Premiums may also increase incrementally each year as your pet ages.

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.

Ultimately, pet insurance can be helpful for many situations, especially if you want to reduce the stress and difficult decisions that can stem from unexpected vet bills. In general, you want to shop for pet insurance sooner than later so that it's more cost-effective, but even older pets can be insured.

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.

What does 'premium' mean on pet insurance? Your premium is a fixed amount you (the policyholder) pay each month to maintain your pet's insurance cover. This payment covers the risks associated with your insured pet and your liabilities under your policy.