American pet owners have taken notice of the rising cost of veterinary care, over two million pets are now covered under a pet insurance policy at a collective cost of $595 million.
The pet insurance industry is relatively new, however, since 2009 it has grown annually by 13.2% with a huge increase in active policies.
North American Pet Health Insurance Association has recently outlined there are 179 million pets in North America which create an estimated $58.5 billion in annual spending. Vet care costs owners $15.25 billion per year and is the largest expenditure in the category.
Therefore, right now more than ever people want to get the best pet insurance deals available for their pets. PetAssure are one example providing a discount for a wide range of pet medical treatments for a premium of less than $10 per pet per month. You can read review here.
Like human insurance pet insurance works in the same way – by insuring your cat, dog, and any other animal friends, you can cover a large portion of their medical expenses saving you thousands of dollars.
Pet Insurance plans include illness, injury, and wellness coverage all can be mixed and matched, while comprehensive coverage will ensure your companion is always protected should the worst happen.
Here are 5 tips to protect your pet and get the cheapest pet insurance:
Never assume the cheapest pet insurance isn’t enough:
As outlined pet insurance policies offer varying levels of cover, all at different prices. The most expensive policy may not necessarily provide the best level of protection for your pet – leaving you paying for more cover than you really need.
It is always worthwhile looking at the specific needs of your pet, your budget and then choose the cover that matches.
Pay a Higher Excess:
Paying a higher excess could mean that you pay a lower pet insurance premium. However, it is worthwhile being realistic when deciding on the excess amount and make sure you can comfortably afford to pay it, specifically if you must claim on your policy.
Watch out in having to pay a percentage-based excess as well as the usual one-off payment – this can make things very expensive if you’re claiming for lengthy and costly treatments.
Keep your Pet Healthy and Insure from a Young Age:
By taking care of your pet’s health from the day they arrive, you can save yourself a small fortune in vet’s bills. It is also worthwhile insuring your pet from the youngest age possible as some companies have an age limit. and older pets tend to have higher premiums.
In keeping your pet healthy it reduces the chances of your pet needing treatment from your local vet, meaning you pay a lower cost of pet insurance.
Consider spaying or neutering your pet:
If your pet is neutered or spayed this can potentially mean you pay lower costs for your pet insurance. This reduces the chances of your pet developing various conditions, while they are also less likely to stray.
Compare Pet Insurance Quotes:
An effective way to get cheap pet insurance is to compare quotes from a wide range of insurance providers.
What you’ll pay as a premium will differ hugely, depending on variables including your pet’s age and pedigree, once you’ve decided which cover is best for your pet, you are ready to compare the market.